CarGurus (CARG) Boosted to “C-” at TheStreet

CarGurus (CARG) Boosted  to “C-” at TheStreet

CARG has been the subject of a number of other research reports. Oppenheimer assumed coverage on shares of CarGurus in a research note on Tuesday, January 8th. They issued a buy rating and a $42.00 price objective for the company. SunTrust Banks assumed coverage on shares of CarGurus in a research note on Monday, November 19th. They issued a buy rating and a $49.00 price objective for the company. Zacks Investment Research upgraded shares of CarGurus from a hold rating to a buy rating and set a $48.00 price objective for the company in a research note on Friday, March 1st. Benchmark restated a buy rating and issued a $50.00 price objective on shares of CarGurus in a research note on Friday, March 1st. Finally, CIBC assumed coverage on shares of CarGurus in a research note on Wednesday, January 9th. They issued an outperform rating and a $42.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $49.40.

TheStreet upgraded shares of CarGurus (NASDAQ:CARG) from a d+ rating to a c- rating in a research note published on Tuesday morning.

Shares of CARG stock opened at $39.62 on Tuesday. CarGurus has a 52-week low of $29.18 and a 52-week high of $57.25. The firm has a market capitalization of $4.38 billion, a PE ratio of 69.51, a price-to-earnings-growth ratio of 37.65 and a beta of 1.97.

In related news, insider Oliver Ian Chrzan sold 20,000 shares of the stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $33.68, for a total transaction of $673,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas Michael Caputo sold 6,595 shares of the stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $39.97, for a total transaction of $263,602.15. The disclosure for this sale can be found here. Insiders have sold a total of 1,923,626 shares of company stock valued at $74,631,038 in the last quarter. 51.03% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in CARG. Bank of New York Mellon Corp increased its position in shares of CarGurus by 1,442.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 140,265 shares of the company’s stock worth $4,872,000 after purchasing an additional 131,170 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of CarGurus during the 3rd quarter worth about $956,000. Victory Capital Management Inc. acquired a new stake in shares of CarGurus during the 3rd quarter worth about $2,002,000. Comerica Bank acquired a new stake in shares of CarGurus during the 3rd quarter worth about $722,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of CarGurus during the 3rd quarter worth about $1,251,000. Institutional investors and hedge funds own 72.07% of the company’s stock.

About CarGurus

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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