Brokerages expect that CarGurus Inc (NASDAQ:CARG) will report $154.60 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for CarGurus’ earnings, with the highest sales estimate coming in at $155.80 million and the lowest estimate coming in at $153.69 million. CarGurus reported sales of $126.09 million in the same quarter last year, which indicates a positive year-over-year growth rate of 22.6%. The business is scheduled to announce its next earnings results after the market closes on Thursday, February 13th.
According to Zacks, analysts expect that CarGurus will report full year sales of $585.33 million for the current fiscal year, with estimates ranging from $584.45 million to $586.40 million. For the next financial year, analysts expect that the firm will report sales of $710.88 million, with estimates ranging from $700.40 million to $727.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for CarGurus.
CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.14 earnings per share 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 18.30%. The business had revenue of $150.50 million for the quarter, compared to the consensus estimate of $147.99 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The company’s revenue for the quarter was up 26.4% on a year-over-year basis.
Several equities analysts have recently commented on CARG shares. Royal Bank of Canada lowered their target price on shares of CarGurus to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. BidaskClub raised shares of CarGurus from a “sell” rating to a “hold” rating in a report on Thursday. TheStreet raised shares of CarGurus from a “d+” rating to a “c-” rating in a report on Thursday, November 7th. Finally, Zacks Investment Research downgraded shares of CarGurus from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $48.70.
Shares of CARG stock traded down $1.04 during mid-day trading on Tuesday, hitting $36.04. The company had a trading volume of 621,698 shares, compared to its average volume of 894,181. CarGurus has a 52-week low of $28.65 and a 52-week high of $45.25. The stock’s 50 day moving average price is $36.66 and its 200-day moving average price is $34.93. 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 company has a market capitalization of $4.15 billion, a P/E ratio of 100.11, a P/E/G ratio of 2.12 and a beta of 1.88.
In related news, CEO Langley Steinert sold 36,010 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $36.14, for a total transaction of $1,301,401.40. Following the sale, the chief executive officer now owns 1,984,109 shares of the company’s stock, valued at $71,705,699.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Thomas Michael Caputo sold 5,301 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $38.00, for a total transaction of $201,438.00. Following the sale, the insider now directly owns 92,758 shares in the company, valued at approximately $3,524,804. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,097,903 shares of company stock worth $41,442,300. 34.51% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in CarGurus by 10.1% during the second quarter. Vanguard Group Inc. now owns 5,585,376 shares of the company’s stock valued at $201,687,000 after purchasing an additional 512,647 shares in the last quarter. Millennium Management LLC purchased a new stake in CarGurus during the third quarter valued at $998,000. Tower Research Capital LLC TRC raised its stake in CarGurus by 208.6% during the third quarter. Tower Research Capital LLC TRC now owns 1,114 shares of the company’s stock valued at $34,000 after purchasing an additional 753 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in CarGurus during the third quarter valued at $296,000. Finally, Comerica Bank raised its stake in CarGurus by 4.3% during the third quarter. Comerica Bank now owns 19,448 shares of the company’s stock valued at $628,000 after purchasing an additional 807 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors.
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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