CarGurus (CARG) Downgraded by BidaskClub to Hold

CarGurus (NASDAQ:CARG) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, BidAskClub reports.

CARG has been the topic of a number of other reports. DA Davidson set a $54.00 price target on CarGurus and gave the stock a “buy” rating in a research note on Tuesday, March 26th. Zacks Investment Research raised CarGurus from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Wednesday, March 13th. Goldman Sachs Group raised CarGurus from a “neutral” rating to a “buy” rating and upped their price target for the stock from $43.00 to $48.00 in a research note on Monday, March 18th. TheStreet raised CarGurus from a “d+” rating to a “c-” rating in a research note on Tuesday, March 12th. Finally, SunTrust Banks reissued a “buy” rating and set a $52.00 price objective on shares of CarGurus in a report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $49.73.

CARG stock opened at $36.77 on Friday. CarGurus has a fifty-two week low of $30.29 and a fifty-two week high of $57.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.74 and a current ratio of 2.74. The company has a market cap of $4.05 billion, a P/E ratio of 64.51, a PEG ratio of 7.16 and a beta of 1.86.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. CarGurus had a return on equity of 18.43% and a net margin of 13.94%. The business had revenue of $135.30 million for the quarter, compared to the consensus estimate of $129.54 million. During the same period in the prior year, the business earned $0.06 EPS. The firm’s revenue for the quarter was up 37.2% on a year-over-year basis. On average, equities research analysts forecast that CarGurus will post 0.23 earnings per share for the current year.

In other CarGurus news, insider Sarah Amory Welch sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $39.99, for a total transaction of $99,975.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anastasios Parafestas sold 140,848 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $42.29, for a total value of $5,956,461.92. The disclosure for this sale can be found here. Insiders have sold a total of 3,355,011 shares of company stock valued at $133,100,720 over the last three months. Corporate insiders own 34.51% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. grew its holdings in shares of CarGurus by 281.2% in the first quarter. Advisor Group Inc. now owns 770 shares of the company’s stock valued at $31,000 after acquiring an additional 568 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of CarGurus in the fourth quarter valued at approximately $30,000. Quantamental Technologies LLC bought a new position in shares of CarGurus in the fourth quarter valued at approximately $78,000. DekaBank Deutsche Girozentrale bought a new position in shares of CarGurus in the first quarter valued at approximately $136,000. Finally, LPL Financial LLC bought a new position in shares of CarGurus in the third quarter valued at approximately $234,000. 72.34% of the stock is owned by hedge funds and other institutional investors.

CarGurus Company Profile

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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