TheStreet Downgrades CarGurus (CARG) to D+

TheStreet cut shares of CarGurus (NASDAQ:CARG) from a c- rating to a d+ rating in a report issued on Tuesday morning, TheStreetRatingsTable reports.

A number of other research firms have also recently commented on CARG. Zacks Investment Research cut CarGurus from a strong-buy rating to a hold rating in a research report on Wednesday. BidaskClub cut CarGurus from a hold rating to a sell rating in a research report on Tuesday, March 26th. Finally, BTIG Research reduced their price objective on CarGurus to $48.00 and set a buy rating for the company in a research report on Wednesday, April 17th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. CarGurus currently has an average rating of Buy and a consensus target price of $49.73.

Shares of NASDAQ:CARG opened at $36.77 on Tuesday. The firm has a market cap of $4.05 billion, a PE ratio of 64.51, a price-to-earnings-growth ratio of 7.16 and a beta of 1.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.74 and a current ratio of 2.74. CarGurus has a 1 year low of $30.29 and a 1 year high of $57.25.

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

In related news, insider Thomas Michael Caputo sold 5,353 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $41.33, for a total transaction of $221,239.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anastasios Parafestas sold 64,140 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $40.57, for a total value of $2,602,159.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,355,011 shares of company stock valued at $133,100,720. Company insiders own 34.51% of the company’s stock.

Several large investors have recently bought and sold shares of CARG. Bank of New York Mellon Corp lifted its stake in shares of CarGurus by 8.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 152,439 shares of the company’s stock valued at $8,489,000 after purchasing an additional 12,174 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of CarGurus by 209.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 247,319 shares of the company’s stock valued at $13,773,000 after purchasing an additional 167,404 shares during the last quarter. LPL Financial LLC bought a new stake in shares of CarGurus in the 3rd quarter valued at approximately $234,000. Vanguard Group Inc. lifted its stake in shares of CarGurus by 20.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,512,695 shares of the company’s stock valued at $251,312,000 after purchasing an additional 759,094 shares during the last quarter. Finally, Federated Investors Inc. PA bought a new stake in shares of CarGurus in the 3rd quarter valued at approximately $11,516,000. 72.34% of the stock is owned by institutional investors and hedge funds.

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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