Cars.com (NYSE:CARS) Upgraded at B.Riley Securit

B.Riley Securit upgraded shares of Cars.com (NYSE:CARS) from a neutral rating to a buy rating in a report published on Thursday morning, Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. BTIG Research restated a buy rating and issued a $10.00 target price on shares of Cars.com in a report on Thursday, July 9th. ValuEngine cut shares of Cars.com from a sell rating to a strong sell rating in a report on Friday, August 7th. Zacks Investment Research cut shares of Cars.com from a buy rating to a sell rating in a report on Wednesday, September 30th. B. Riley upgraded shares of Cars.com from a neutral rating to a buy rating and lifted their price target for the company from $9.00 to $11.00 in a report on Thursday. Finally, B. Riley Securities upgraded shares of Cars.com from a neutral rating to a buy rating and lifted their price target for the company from $9.00 to $11.00 in a report on Thursday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $11.72.

Shares of Cars.com stock opened at $9.21 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.49 and a current ratio of 1.49. Cars.com has a 52-week low of $3.25 and a 52-week high of $13.55. The stock has a market capitalization of $618.91 million, a price-to-earnings ratio of -0.50 and a beta of 2.13. The company’s 50 day moving average price is $8.50 and its 200-day moving average price is $6.76.

Cars.com (NYSE:CARS) last issued its earnings results on Thursday, July 30th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.78. Cars.com had a negative net margin of 224.10% and a positive return on equity of 11.67%. The firm had revenue of $102.01 million for the quarter, compared to analysts’ expectations of $94.32 million. As a group, equities research analysts forecast that Cars.com will post 1.07 earnings per share for the current fiscal year.

In other Cars.com news, CRO Douglas Neal Miller sold 3,371 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $8.62, for a total transaction of $29,058.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Alex Vetter acquired 12,000 shares of the stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of $8.50 per share, with a total value of $102,000.00. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CARS. Stone Ridge Asset Management LLC raised its position in shares of Cars.com by 55.4% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 21,600 shares of the company’s stock worth $124,000 after purchasing an additional 7,700 shares during the last quarter. Invesco Ltd. raised its position in shares of Cars.com by 11.7% in the 1st quarter. Invesco Ltd. now owns 318,853 shares of the company’s stock worth $1,371,000 after purchasing an additional 33,516 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cars.com by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 955,561 shares of the company’s stock worth $5,505,000 after purchasing an additional 37,129 shares during the last quarter. RBF Capital LLC raised its position in shares of Cars.com by 120.0% in the 1st quarter. RBF Capital LLC now owns 36,666 shares of the company’s stock worth $158,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Cars.com in the 1st quarter worth about $54,000. 96.76% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: Recession

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.