CarGurus (NASDAQ:CARG) Now Covered by Analysts at Gordon Haskett

Gordon Haskett started coverage on shares of CarGurus (NASDAQ:CARG) in a report released on Monday, MarketBeat.com reports. The firm set a “hold” rating and a $35.00 price target on the stock. Gordon Haskett’s target price points to a potential upside of 4.17% from the stock’s current price.

Other research analysts have also issued reports about the stock. Citigroup decreased their price target on shares of CarGurus from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Thursday, July 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $42.00 target price on shares of CarGurus in a research note on Monday, May 12th. Citizens Jmp lowered shares of CarGurus from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. lowered shares of CarGurus from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, JMP Securities reissued a “market perform” rating and issued a $38.00 target price on shares of CarGurus in a research note on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, CarGurus currently has a consensus rating of “Hold” and a consensus price target of $37.63.

CarGurus Stock Performance

NASDAQ:CARG opened at $33.60 on Monday. CarGurus has a one year low of $21.65 and a one year high of $41.33. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 96.00, a PEG ratio of 1.68 and a beta of 1.44. The firm’s fifty day moving average is $32.36 and its two-hundred day moving average is $32.71.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $225.16 million for the quarter, compared to analyst estimates of $226.72 million. CarGurus had a net margin of 4.28% and a return on equity of 32.54%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 EPS. As a group, equities research analysts predict that CarGurus will post 1.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,369 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total transaction of $144,570.21. Following the transaction, the chief executive officer directly owned 121,584 shares in the company, valued at approximately $4,023,214.56. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Dafna Sarnoff sold 4,168 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total transaction of $137,919.12. Following the completion of the sale, the chief marketing officer owned 115,183 shares in the company, valued at $3,811,405.47. This represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,140 shares of company stock valued at $1,550,608. 17.20% of the stock is owned by insiders.

Hedge Funds Weigh In On CarGurus

A number of large investors have recently bought and sold shares of CARG. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of CarGurus in the 1st quarter worth about $46,000. Fifth Third Bancorp lifted its stake in CarGurus by 121.7% in the second quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock valued at $47,000 after acquiring an additional 779 shares during the last quarter. GeoWealth Management LLC acquired a new stake in shares of CarGurus in the fourth quarter worth $49,000. Signaturefd LLC increased its position in CarGurus by 83.9% during the first quarter. Signaturefd LLC now owns 1,751 shares of the company’s stock worth $51,000 after acquiring an additional 799 shares during the period. Finally, Blue Trust Inc. increased its position in CarGurus by 49.8% during the first quarter. Blue Trust Inc. now owns 2,494 shares of the company’s stock worth $73,000 after acquiring an additional 829 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.