Cars.com (CARS) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Cars.com (NYSE:CARS) from a sell rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Cars.com Inc. operates an online automotive platform. The Company offers new and used vehicle listings, expert and consumer reviews, research tools and other information. It also engaged in the sale of display advertising to national advertisers. Cars.com Inc. is based in Chicago, United States. “

Several other research firms have also recently commented on CARS. Barrington Research reaffirmed a buy rating on shares of Cars.com in a research note on Thursday, October 4th. ValuEngine raised shares of Cars.com from a sell rating to a hold rating in a research note on Tuesday, October 23rd. BTIG Research assumed coverage on shares of Cars.com in a research note on Tuesday, November 13th. They set a neutral rating for the company. Finally, Citigroup assumed coverage on shares of Cars.com in a research note on Friday, December 7th. They set a neutral rating and a $27.00 price objective for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $34.88.

CARS stock traded up $0.05 during midday trading on Tuesday, hitting $23.07. The stock had a trading volume of 651,285 shares, compared to its average volume of 533,025. The stock has a market capitalization of $1.59 billion, a P/E ratio of 10.12, a PEG ratio of 1.96 and a beta of 0.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.29 and a current ratio of 1.29. Cars.com has a 12-month low of $20.14 and a 12-month high of $32.94.

Cars.com (NYSE:CARS) last released its earnings results on Wednesday, November 7th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). The firm had revenue of $169.30 million during the quarter, compared to analysts’ expectations of $168.04 million. Cars.com had a return on equity of 7.77% and a net margin of 27.69%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. Research analysts forecast that Cars.com will post 1.85 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new stake in Cars.com during the 3rd quarter worth $400,000. Bank of New York Mellon Corp boosted its position in Cars.com by 9.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,001,230 shares of the company’s stock worth $28,426,000 after purchasing an additional 84,507 shares during the period. Starboard Value LP boosted its position in Cars.com by 10.1% during the 3rd quarter. Starboard Value LP now owns 6,292,000 shares of the company’s stock worth $173,722,000 after purchasing an additional 575,000 shares during the period. JPMorgan Chase & Co. boosted its position in Cars.com by 167.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 183,646 shares of the company’s stock worth $5,071,000 after purchasing an additional 114,894 shares during the period. Finally, William Blair Investment Management LLC boosted its position in Cars.com by 7.2% during the 3rd quarter. William Blair Investment Management LLC now owns 503,088 shares of the company’s stock worth $13,890,000 after purchasing an additional 34,005 shares during the period.

About Cars.com

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.

Recommended Story: SEC Filing

Get a free copy of the Zacks research report on Cars.com (CARS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Cars.com (NYSE:CARS)

Receive News & Ratings for Cars.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cars.com and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply