Cars.com (NYSE:CARS) Cut to “Market Perform” at Barrington Research

Barrington Research lowered shares of Cars.com (NYSE:CARS) from an outperform rating to a market perform rating in a report published on Tuesday, AnalystRatings.com reports. Barrington Research also issued estimates for Cars.com’s Q4 2019 earnings at $0.30 EPS.

“We acknowledge that the stock remains undervalued, yet we see no short-term catalyst to improve the underlying stock price unless potential suitors come back into the fold due to the stock price decline of over 30% yesterday. Company Description Cars.com, Inc. engages in the provision of automotive products and services through online automotive classifieds. It offers a digital automotive marketplace search engine, which connects buyers and sellers.”,” the firm’s analyst commented.

CARS has been the topic of a number of other reports. BTIG Research lowered shares of Cars.com from a buy rating to a neutral rating in a research note on Monday, August 5th. Citigroup restated a buy rating and issued a $19.00 price objective (down from $27.00) on shares of Cars.com in a research note on Tuesday. DA Davidson lowered shares of Cars.com from a buy rating to a neutral rating in a research note on Tuesday. ValuEngine lowered shares of Cars.com from a sell rating to a strong sell rating in a research note on Tuesday. Finally, Zacks Investment Research lowered shares of Cars.com from a buy rating to a hold rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Cars.com has an average rating of Hold and a consensus target price of $24.31.

Shares of NYSE:CARS opened at $9.03 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.00 and a quick ratio of 1.17. The firm has a market cap of $602.03 million, a price-to-earnings ratio of 4.96, a P/E/G ratio of 1.30 and a beta of 0.69. Cars.com has a 12 month low of $8.87 and a 12 month high of $28.50. The stock’s fifty day moving average is $19.34.

Cars.com (NYSE:CARS) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). The business had revenue of $148.20 million during the quarter, compared to analyst estimates of $160.18 million. Cars.com had a net margin of 1.59% and a return on equity of 6.51%. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Research analysts anticipate that Cars.com will post 1.52 EPS for the current fiscal year.

In other news, insider James F. Rogers purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $9.99 per share, for a total transaction of $99,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Alex Vetter purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $10.19 per share, for a total transaction of $203,800.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 37,500 shares of company stock worth $374,700. Company insiders own 0.04% of the company’s stock.

Several institutional investors have recently modified their holdings of CARS. Marshall Wace LLP acquired a new position in shares of Cars.com during the first quarter worth about $63,000. Edge Wealth Management LLC purchased a new stake in Cars.com during the first quarter worth about $69,000. Altshuler Shaham Ltd purchased a new stake in Cars.com during the second quarter worth about $105,000. Investors Research Corp purchased a new stake in Cars.com during the first quarter worth about $119,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Cars.com during the second quarter worth about $180,000.

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.

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Analyst Recommendations for Cars.com (NYSE:CARS)

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