CarGurus (NASDAQ:CARG) Stock Rating Lowered by Citizens Jmp

CarGurus (NASDAQ:CARG - Get Free Report) was downgraded by equities research analysts at Citizens Jmp from an "outperform" rating to a "market perform" rating in a research note issued on Wednesday, Marketbeat.com reports.

Several other equities research analysts have also recently weighed in on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $42.00 price objective on shares of CarGurus in a research report on Monday, May 12th. Needham & Company LLC reduced their target price on CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, May 9th. JMP Securities dropped their price objective on CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. UBS Group raised their price objective on CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.86.

CarGurus Stock Up 0.1%

Shares of CarGurus stock traded up $0.03 on Wednesday, hitting $33.68. The stock had a trading volume of 410,699 shares, compared to its average volume of 868,761. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 96.22, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. CarGurus has a twelve month low of $21.65 and a twelve month high of $41.33. The business's 50 day moving average is $31.41 and its two-hundred day moving average is $32.87.

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

Insider Buying and Selling

In related news, General Counsel Javier Esquivel Zamora sold 12,265 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total value of $384,753.05. Following the transaction, the general counsel owned 102,723 shares in the company, valued at $3,222,420.51. The trade was a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ismail Elshareef sold 5,246 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $31.37, for a total value of $164,567.02. Following the sale, the insider owned 107,007 shares of the company's stock, valued at approximately $3,356,809.59. The trade was a 4.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,661 shares of company stock valued at $1,557,243. Corporate insiders own 16.99% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in CarGurus by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock worth $284,909,000 after purchasing an additional 93,722 shares during the period. Wellington Management Group LLP boosted its holdings in shares of CarGurus by 12.7% during the 1st quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company's stock worth $234,560,000 after buying an additional 906,830 shares in the last quarter. Invesco Ltd. grew 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 worth $46,808,000 after buying an additional 1,242,076 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock worth $55,704,000 after buying an additional 957,035 shares during the period. Finally, Prevatt Capital Ltd increased its stake in shares of CarGurus by 3.7% in the 1st quarter. Prevatt Capital Ltd now owns 1,400,000 shares of the company's stock valued at $40,782,000 after acquiring an additional 50,000 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

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.