CarGurus, Inc. (NASDAQ:CARG) Receives Average Rating of "Moderate Buy" from Analysts

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $38.41.

A number of equities research analysts have recently weighed in on CARG shares. Oppenheimer cut their price target on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday. JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $40.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. DA Davidson upped their price target on shares of CarGurus from $26.50 to $38.50 and gave the company a "neutral" rating in a report on Friday, November 8th. Royal Bank of Canada boosted their price objective on CarGurus from $30.00 to $42.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Finally, B. Riley boosted their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, November 11th.

Insider Buying and Selling at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $163,872.40. Following the transaction, the chief executive officer now owns 120,051 shares in the company, valued at $4,295,424.78. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Samuel Zales sold 7,500 shares of CarGurus stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $37.70, for a total value of $282,750.00. Following the sale, the chief operating officer now directly owns 434,821 shares in the company, valued at $16,392,751.70. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,388 shares of company stock worth $2,204,338 over the last three months. Company insiders own 17.20% of the company's stock.

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Institutional Trading of CarGurus

A number of institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its stake in shares of CarGurus by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company's stock worth $1,553,000 after acquiring an additional 300 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of CarGurus by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock worth $332,000 after purchasing an additional 423 shares during the period. Principal Securities Inc. increased its holdings in CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company's stock valued at $34,000 after purchasing an additional 424 shares during the last quarter. Signaturefd LLC boosted its holdings in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company's stock valued at $29,000 after acquiring an additional 430 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after acquiring an additional 456 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Stock Down 1.5 %

CarGurus stock traded down $0.46 during mid-day trading on Monday, reaching $30.75. 1,537,546 shares of the company's stock were exchanged, compared to its average volume of 943,020. The company has a fifty day moving average of $37.43 and a 200-day moving average of $33.90. The company has a market cap of $3.19 billion, a P/E ratio of 170.84, a P/E/G ratio of 1.72 and a beta of 1.59. CarGurus has a twelve month low of $21.18 and a twelve month high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). The company had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. Equities research analysts expect that CarGurus will post 1.41 earnings per share for the current fiscal year.

About CarGurus

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.