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

Shares of CarGurus, Inc. (NASDAQ:CARG) have received a consensus rating of “Hold” from the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $40.20.

CARG has been the topic of several recent research reports. Needham & Company LLC lifted their price objective on CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, August 8th. UBS Group lifted their price target on shares of CarGurus from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Zacks Research lowered shares of CarGurus from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Citigroup raised their price objective on shares of CarGurus from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Finally, BTIG Research reiterated a “buy” rating and set a $39.00 target price on shares of CarGurus in a research report on Friday, September 5th.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $34.98, for a total value of $349,800.00. Following the sale, the chief operating officer directly owned 410,259 shares in the company, valued at approximately $14,350,859.82. This represents a 2.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jennifer Ladd Hanson sold 9,998 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $36.88, for a total value of $368,726.24. Following the completion of the transaction, the insider directly owned 54,807 shares of the company’s stock, valued at approximately $2,021,282.16. The trade was a 15.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 41,226 shares of company stock valued at $1,471,482. 16.99% of the stock is currently owned by corporate insiders.

Institutional Trading of CarGurus

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Congress Asset Management Co. acquired a new position in CarGurus in the third quarter valued at approximately $70,856,000. Invesco Ltd. raised its position in shares of CarGurus by 340.5% during the 1st quarter. Invesco Ltd. now owns 1,606,869 shares of the company’s stock valued at $46,808,000 after acquiring an additional 1,242,076 shares during the last quarter. American Century Companies Inc. raised its position in shares of CarGurus by 547.9% during the 1st quarter. American Century Companies Inc. now owns 1,398,341 shares of the company’s stock valued at $40,734,000 after acquiring an additional 1,182,499 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of CarGurus by 12.7% in the 1st quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company’s stock valued at $234,560,000 after purchasing an additional 906,830 shares during the period. Finally, Boston Partners lifted its stake in shares of CarGurus by 1,641.2% in the 1st quarter. Boston Partners now owns 878,556 shares of the company’s stock valued at $25,363,000 after purchasing an additional 828,099 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Stock Performance

Shares of CARG opened at $33.34 on Friday. The company has a 50-day simple moving average of $35.80 and a 200-day simple moving average of $33.30. CarGurus has a 52 week low of $24.65 and a 52 week high of $41.33. The firm has a market capitalization of $3.31 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.58 and a beta of 1.50.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. CarGurus had a return on equity of 39.41% and a net margin of 16.41%.The business had revenue of $234.03 million for the quarter, compared to the consensus estimate of $232.29 million. During the same period last year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that CarGurus will post 1.41 earnings per share for the current 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.