Cars.com (NYSE:CARS) Trading Down 5.5% – Here’s Why

Cars.com Inc. (NYSE:CARS) shares were down 5.5% during mid-day trading on Tuesday . The company traded as low as $10.87 and last traded at $10.8160. Approximately 146,173 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 957,694 shares. The stock had previously closed at $11.45.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Zacks Research raised shares of Cars.com from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. BTIG Research reissued a “buy” rating and issued a $14.00 target price on shares of Cars.com in a research report on Thursday, August 6th. Weiss Ratings raised Cars.com from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, September 14th. Finally, UBS Group upped their price objective on Cars.com from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.83.

Cars.com Stock Performance

The company has a market cap of $579.62 million, a P/E ratio of 18.99 and a beta of 1.59. The stock has a fifty day moving average price of $11.87 and a two-hundred day moving average price of $10.50. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.00 and a quick ratio of 2.00.

Cars.com (NYSE:CARS) last announced its earnings results on Thursday, August 6th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Cars.com had a return on equity of 18.82% and a net margin of 4.73%.The firm had revenue of $179.93 million for the quarter, compared to the consensus estimate of $180.53 million. During the same quarter in the previous year, the business earned $0.41 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts forecast that Cars.com Inc. will post 1.61 earnings per share for the current fiscal year.

Insider Activity

In other Cars.com news, insider Angelique Marks sold 57,980 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $11.94, for a total transaction of $692,281.20. Following the sale, the insider directly owned 149,636 shares in the company, valued at approximately $1,786,653.84. The trade was a 27.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jr. Donald A. Mcgovern sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $12.25, for a total value of $98,000.00. Following the sale, the director directly owned 102,900 shares in the company, valued at approximately $1,260,525. The trade was a 7.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.36% of the company’s stock.

Institutional Trading of Cars.com

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Cars.com during the second quarter valued at $26,000. First Trust Advisors LP boosted its stake in shares of Cars.com by 15.0% during the 1st quarter. First Trust Advisors LP now owns 35,306 shares of the company’s stock worth $287,000 after purchasing an additional 4,592 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Cars.com during the second quarter worth about $144,000. Janney Montgomery Scott LLC raised its position in shares of Cars.com by 56.2% in the first quarter. Janney Montgomery Scott LLC now owns 38,437 shares of the company’s stock valued at $312,000 after buying an additional 13,831 shares during the last quarter. Finally, Inceptionr LLC lifted its stake in shares of Cars.com by 64.3% during the first quarter. Inceptionr LLC now owns 42,826 shares of the company’s stock valued at $348,000 after buying an additional 16,761 shares during the period. Institutional investors own 89.15% of the company’s stock.

Cars.com Company Profile

Cars.com Inc (NYSE:CARS) operates a digital automotive marketplace that connects consumers with automobile dealers and manufacturers. Its platform helps shoppers research vehicles, compare listings, read reviews, explore pricing and incentives, and connect with dealerships when they are ready to buy or sell a vehicle.

The company provides automotive retailers with digital marketing and technology solutions designed to help them attract and engage customers. Its offerings include vehicle listings, dealer websites, digital retailing tools, customer relationship and lead-management services, reputation management, and advertising solutions.