Weekly Analysts’ Ratings Updates for CarGurus (CARG)

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A number of firms have modified their ratings and price targets on shares of CarGurus (NASDAQ: CARG) recently:

  • 3/13/2019 – CarGurus was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $44.00 price target on the stock. According to Zacks, “CarGurus, Inc. is an online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics. It operates primarily in Canada, the United Kingdom and Germany. CarGurus, Inc.is based in CAMBRIDGE, United States. “
  • 3/12/2019 – CarGurus was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “CarGurus, Inc. is an online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics. It operates primarily in Canada, the United Kingdom and Germany. CarGurus, Inc.is based in CAMBRIDGE, United States. “
  • 3/12/2019 – CarGurus was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating.
  • 3/1/2019 – CarGurus was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $48.00 price target on the stock. According to Zacks, “CarGurus, Inc. is an online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics. It operates primarily in Canada, the United Kingdom and Germany. CarGurus, Inc.is based in CAMBRIDGE, United States. “
  • 3/1/2019 – CarGurus had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $50.00 price target on the stock. They wrote, “We still only see 3% US dealer growth in 2019 but now predict US AARSD will grow by 22% y/y, up 3% from our prior forecast.””
  • 3/1/2019 – CarGurus had its price target raised by analysts at Citigroup Inc from $45.00 to $52.00. They now have a “buy” rating on the stock.
  • 2/7/2019 – CarGurus was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 1/31/2019 – CarGurus was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 1/22/2019 – CarGurus was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

CARG stock traded down $0.57 during trading on Friday, reaching $38.52. 1,172,400 shares of the stock were exchanged, compared to its average volume of 685,982. CarGurus Inc has a 1 year low of $29.18 and a 1 year high of $57.25. The company has a market capitalization of $4.38 billion, a PE ratio of 67.58, a price-to-earnings-growth ratio of 37.65 and a beta of 1.97.

In other CarGurus news, insider Oliver Ian Chrzan sold 20,000 shares of CarGurus stock in a transaction dated Wednesday, December 26th. The shares were sold at an average price of $32.21, for a total transaction of $644,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Langley Steinert sold 117,406 shares of CarGurus stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $42.52, for a total transaction of $4,992,103.12. The disclosure for this sale can be found here. Insiders have sold 1,986,127 shares of company stock worth $77,116,078 over the last ninety days. 51.03% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of CarGurus by 8.7% during the third quarter. Bank of New York Mellon Corp now owns 152,439 shares of the company’s stock valued at $8,489,000 after acquiring an additional 12,174 shares during the last quarter. 361 Capital LLC acquired a new position in shares of CarGurus in the fourth quarter valued at approximately $2,336,000. United Services Automobile Association acquired a new position in shares of CarGurus in the third quarter valued at approximately $240,000. Strs Ohio grew its holdings in shares of CarGurus by 23.8% in the fourth quarter. Strs Ohio now owns 28,600 shares of the company’s stock valued at $964,000 after purchasing an additional 5,500 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of CarGurus by 19.6% in the third quarter. BlackRock Inc. now owns 3,138,323 shares of the company’s stock valued at $174,772,000 after purchasing an additional 513,304 shares in the last quarter. Institutional investors and hedge funds own 72.07% of the company’s stock.

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

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