Cars.com (NYSE:CARS) Rating Increased to Hold at Zacks Investment Research

Cars.com (NYSE:CARS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, Zacks.com reports.

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 analysts have also issued reports on CARS. The Goldman Sachs Group raised their price target on Cars.com from $9.50 to $12.50 and gave the stock a “neutral” rating in a research report on Monday, January 25th. Barrington Research restated a “buy” rating and issued a $16.00 price target on shares of Cars.com in a research report on Monday, February 22nd. Finally, Benchmark upgraded Cars.com from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Monday, March 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $11.80.

Shares of CARS opened at $12.87 on Monday. The firm has a market capitalization of $867.63 million, a price-to-earnings ratio of -1.04 and a beta of 2.41. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.36 and a current ratio of 1.36. The business’s fifty day moving average price is $13.58 and its two-hundred day moving average price is $12.08. Cars.com has a 52 week low of $4.45 and a 52 week high of $15.71.

Cars.com (NYSE:CARS) last announced its quarterly earnings data on Wednesday, February 24th. The company reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.22). The firm had revenue of $153.01 million during the quarter, compared to the consensus estimate of $145.57 million. Cars.com had a negative net margin of 151.54% and a positive return on equity of 17.78%. As a group, research analysts forecast that Cars.com will post 1.18 EPS for the current year.

In other Cars.com news, insider James F. Rogers sold 11,042 shares of Cars.com stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $13.93, for a total value of $153,815.06. Company insiders own 0.47% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ninety One UK Ltd increased its position in shares of Cars.com by 3.8% in the fourth quarter. Ninety One UK Ltd now owns 5,163,456 shares of the company’s stock valued at $58,347,000 after acquiring an additional 187,341 shares during the last quarter. Boston Private Wealth LLC increased its position in shares of Cars.com by 4.6% in the fourth quarter. Boston Private Wealth LLC now owns 1,510,000 shares of the company’s stock valued at $19,075,000 after acquiring an additional 66,000 shares during the last quarter. FMR LLC increased its position in shares of Cars.com by 26.7% in the first quarter. FMR LLC now owns 1,052,622 shares of the company’s stock valued at $24,000,000 after acquiring an additional 222,027 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cars.com by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,044,502 shares of the company’s stock valued at $11,803,000 after acquiring an additional 53,337 shares during the last quarter. Finally, SummerHaven Investment Management LLC acquired a new stake in shares of Cars.com in the fourth quarter valued at about $831,000. 95.64% of the stock is currently owned by hedge funds and other institutional investors.

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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