CarGurus, Inc. (NASDAQ:CARG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of CarGurus, Inc. (NASDAQ:CARG) have been given an average rating of “Moderate Buy” by the eleven research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $36.95.

Several equities research analysts recently weighed in on CARG shares. JMP Securities cut their price objective on CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Needham & Company LLC cut their price objective on CarGurus from $45.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, May 9th. UBS Group raised their price objective on CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Royal Bank Of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of CarGurus in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. downgraded CarGurus from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $42.00 to $34.00 in a report on Thursday, March 27th.

Insider Activity at CarGurus

In other CarGurus news, insider Ismail Elshareef sold 5,246 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $31.37, for a total transaction of $164,567.02. Following the completion of the sale, the insider now directly owns 107,007 shares in the company, valued at approximately $3,356,809.59. This trade represents a 4.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Javier Esquivel Zamora sold 12,265 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $31.37, for a total value of $384,753.05. Following the sale, the general counsel now owns 102,723 shares of the company’s stock, valued at approximately $3,222,420.51. The trade was a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,335 shares of company stock worth $1,149,376 over the last three months. Company insiders own 16.99% of the company’s stock.

Institutional Trading of CarGurus

A number of large investors have recently bought and sold shares of CARG. Invesco Ltd. grew its holdings in CarGurus by 340.5% during the 1st quarter. Invesco Ltd. now owns 1,606,869 shares of the company’s stock worth $46,808,000 after acquiring an additional 1,242,076 shares during the period. American Century Companies Inc. grew its holdings in CarGurus by 547.9% during the 1st quarter. American Century Companies Inc. now owns 1,398,341 shares of the company’s stock worth $40,734,000 after acquiring an additional 1,182,499 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company’s stock worth $55,704,000 after acquiring an additional 957,035 shares during the period. Wellington Management Group LLP grew its holdings in CarGurus by 12.7% during the 1st quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company’s stock worth $234,560,000 after acquiring an additional 906,830 shares during the period. Finally, Boston Partners grew its holdings in CarGurus by 1,641.2% during the 1st quarter. Boston Partners now owns 878,556 shares of the company’s stock worth $25,363,000 after acquiring an additional 828,099 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Trading Up 1.4%

CARG stock opened at $33.26 on Friday. The stock has a market capitalization of $3.47 billion, a P/E ratio of 95.03, a price-to-earnings-growth ratio of 1.63 and a beta of 1.44. The firm has a 50-day moving average price of $30.91 and a 200-day moving average price of $32.96. CarGurus has a 12 month low of $21.65 and a 12 month high of $41.33.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The business had revenue of $225.16 million during the quarter, compared to the consensus estimate of $226.72 million. CarGurus had a net margin of 4.28% and a return on equity of 32.54%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. As a group, equities analysts predict that CarGurus will post 1.41 EPS for the current fiscal year.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.