CarGurus (NASDAQ:CARG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has a $38.00 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 0.53% from the stock’s previous close.

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. “

Other analysts have also issued reports about the stock. ValuEngine raised shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Royal Bank of Canada cut their target price on shares of CarGurus to $50.00 and set an “outperform” rating for the company in a research note on Wednesday. BidaskClub raised shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Saturday, October 26th. Consumer Edge initiated coverage on shares of CarGurus in a research note on Friday, August 2nd. They set an “overweight” rating for the company. Finally, JMP Securities cut their target price on shares of CarGurus to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $47.58.

CARG stock traded up $0.21 on Wednesday, hitting $37.80. 770,500 shares of the company’s stock traded hands, compared to its average volume of 879,401. CarGurus has a 1-year low of $28.65 and a 1-year high of $45.25. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 66.32, a P/E/G ratio of 3.32 and a beta of 1.88. The stock has a fifty day moving average of $31.94 and a 200-day moving average of $34.67. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23.

CarGurus (NASDAQ:CARG) last released its earnings results on Tuesday, November 5th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.04 by $0.10. CarGurus had a net margin of 7.44% and a return on equity of 18.91%. The business had revenue of $150.50 million during the quarter, compared to analyst estimates of $147.99 million. During the same period in the prior year, the business earned $0.08 earnings per share. The business’s quarterly revenue was up 26.4% on a year-over-year basis. On average, equities research analysts anticipate that CarGurus will post 0.28 earnings per share for the current fiscal year.

In other news, COO Samuel Zales sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.60, for a total transaction of $568,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sarah Amory Welch sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.61, for a total transaction of $79,025.00. The disclosure for this sale can be found here. Insiders have sold 1,294,107 shares of company stock worth $41,901,974 in the last 90 days. 34.51% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in CARG. First Trust Advisors LP raised its holdings in shares of CarGurus by 24.4% during the first quarter. First Trust Advisors LP now owns 92,854 shares of the company’s stock valued at $3,720,000 after acquiring an additional 18,225 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in CarGurus in the 1st quarter valued at approximately $296,000. Xact Kapitalforvaltning AB increased its stake in CarGurus by 77.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 9,400 shares of the company’s stock valued at $339,000 after buying an additional 4,100 shares during the period. Capital Impact Advisors LLC acquired a new position in CarGurus in the 2nd quarter valued at approximately $1,967,000. Finally, SG Americas Securities LLC increased its stake in CarGurus by 415.5% in the 2nd quarter. SG Americas Securities LLC now owns 46,509 shares of the company’s stock valued at $1,679,000 after buying an additional 37,487 shares during the period. Institutional investors and hedge funds own 66.10% of the company’s stock.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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