CarGurus (NASDAQ:CARG) Stock Rating Upgraded by BidaskClub

CarGurus (NASDAQ:CARG) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

Several other equities research analysts have also issued reports on the company. Consumer Edge initiated coverage on CarGurus in a research note on Friday, August 2nd. They set an “overweight” rating for the company. ValuEngine raised CarGurus from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Zacks Investment Research lowered CarGurus from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Needham & Company LLC initiated coverage on CarGurus in a research note on Thursday, September 12th. They set a “hold” rating for the company. Finally, TheStreet raised CarGurus from a “d+” rating to a “c-” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $47.58.

Shares of CARG traded up $1.28 on Wednesday, reaching $39.68. 1,400,800 shares of the company’s stock traded hands, compared to its average volume of 1,030,718. The stock has a market cap of $4.30 billion, a PE ratio of 69.61, a PEG ratio of 2.76 and a beta of 1.88. CarGurus has a 52-week low of $28.65 and a 52-week high of $45.25. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.24. The stock’s 50 day simple moving average is $32.70 and its two-hundred day simple moving average is $34.70.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.10. The company had revenue of $150.50 million during the quarter, compared to analyst estimates of $147.99 million. CarGurus had a return on equity of 18.30% and a net margin of 7.44%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. Analysts forecast that CarGurus will post 0.35 earnings per share for the current year.

In other CarGurus news, General Counsel Kathleen Bender Patton sold 3,898 shares of CarGurus stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $31.50, for a total transaction of $122,787.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anastasios Parafestas sold 35,000 shares of CarGurus stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.23, for a total value of $1,128,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,473,954 shares of company stock valued at $49,085,553. Corporate insiders own 34.51% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of CarGurus by 10.1% in the second quarter. Vanguard Group Inc. now owns 5,585,376 shares of the company’s stock worth $201,687,000 after buying an additional 512,647 shares during the period. Capital Impact Advisors LLC purchased a new position in shares of CarGurus in the second quarter worth about $1,967,000. Janus Henderson Group PLC purchased a new position in shares of CarGurus in the second quarter worth about $203,000. Partners Capital Investment Group LLP increased its holdings in shares of CarGurus by 11.1% in the second quarter. Partners Capital Investment Group LLP now owns 196,297 shares of the company’s stock worth $7,088,000 after buying an additional 19,658 shares during the period. Finally, Raymond James Trust N.A. purchased a new position in shares of CarGurus in the third quarter worth about $296,000. 66.14% of the stock is owned by hedge funds and other institutional investors.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Analyst Recommendations for CarGurus (NASDAQ:CARG)

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