CarGurus (NASDAQ:CARG) Releases Earnings Results, Beats Estimates By $0.03 EPS

CarGurus (NASDAQ:CARG) issued its earnings results on Thursday. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.03, Bloomberg Earnings reports. CarGurus had a net margin of 7.44% and a return on equity of 18.30%. The firm had revenue of $158.15 million during the quarter, compared to analyst estimates of $154.80 million.

Shares of CARG traded down $8.88 during midday trading on Friday, hitting $25.22. The stock had a trading volume of 14,886,632 shares, compared to its average volume of 915,512. CarGurus has a 1 year low of $28.65 and a 1 year high of $45.25. The firm has a market cap of $3.63 billion, a PE ratio of 70.06, a price-to-earnings-growth ratio of 1.85 and a beta of 1.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.85 and a quick ratio of 2.85. The stock’s 50 day moving average is $35.70 and its 200 day moving average is $34.76.

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of CarGurus to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Zacks Investment Research downgraded shares of CarGurus from a “hold” rating to a “sell” rating in a research note on Thursday. TheStreet raised shares of CarGurus from a “d+” rating to a “c-” rating in a research note on Thursday, November 7th. Benchmark decreased their price target on shares of CarGurus from $51.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $55.00 price target (up previously from $54.00) on shares of CarGurus in a research note on Monday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $47.90.

In other news, General Counsel Kathleen Bender Patton sold 2,008 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $37.49, for a total value of $75,279.92. Following the sale, the general counsel now owns 102,182 shares of the company’s stock, valued at $3,830,803.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ian G. Smith sold 117,732 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $39.75, for a total transaction of $4,679,847.00. Following the completion of the sale, the director now directly owns 283,725 shares in the company, valued at approximately $11,278,068.75. The disclosure for this sale can be found here. In the last three months, insiders sold 725,517 shares of company stock worth $27,319,028. Insiders own 34.51% 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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Earnings History for CarGurus (NASDAQ:CARG)

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