Cars.com (NYSE:CARS) Price Target Raised to $16.00

Cars.com (NYSE:CARS) had its target price raised by JPMorgan Chase & Co. from $15.00 to $16.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms also recently weighed in on CARS. B. Riley restated a “buy” rating and issued a $22.00 target price (up from $21.00) on shares of Cars.com in a research report on Friday, August 8th. Zacks Research lowered Cars.com from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Cars.com in a research report on Wednesday, October 8th. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Cars.com in a research report on Thursday, August 21st. Finally, Wall Street Zen upgraded shares of Cars.com from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.90.

Cars.com Stock Performance

Shares of CARS stock opened at $10.46 on Tuesday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.94. The business has a 50 day moving average of $12.54 and a two-hundred day moving average of $11.86. Cars.com has a 52 week low of $9.56 and a 52 week high of $20.47. The company has a market cap of $642.66 million, a P/E ratio of 16.87 and a beta of 1.76.

Cars.com (NYSE:CARS) last issued its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Cars.com had a net margin of 5.71% and a return on equity of 17.43%. The company had revenue of $178.74 million during the quarter, compared to analyst estimates of $179.43 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The business’s revenue was down .1% on a year-over-year basis. As a group, analysts anticipate that Cars.com will post 1.19 EPS for the current year.

Insider Activity

In related news, insider Matthew B. Crawford sold 15,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $11.77, for a total value of $176,550.00. Following the sale, the insider directly owned 98,461 shares of the company’s stock, valued at approximately $1,158,885.97. The trade was a 13.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cars.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC increased its stake in shares of Cars.com by 119.9% during the 2nd quarter. CWM LLC now owns 4,227 shares of the company’s stock worth $50,000 after purchasing an additional 2,305 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Cars.com by 624.9% during the 1st quarter. GAMMA Investing LLC now owns 4,690 shares of the company’s stock worth $53,000 after purchasing an additional 4,043 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Cars.com by 22.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company’s stock worth $61,000 after acquiring an additional 1,010 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Cars.com by 30.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,025 shares of the company’s stock worth $83,000 after acquiring an additional 1,623 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Cars.com by 436.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,960 shares of the company’s stock valued at $94,000 after purchasing an additional 6,475 shares during the last quarter. 89.15% of the stock is owned by institutional investors.

Cars.com Company Profile

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.