Cars.com (NYSE:CARS) Stock Rating Upgraded by Zacks Research

Cars.com (NYSE:CARS) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. B. Riley Financial downgraded Cars.com from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a report on Friday, May 8th. UBS Group boosted their target price on shares of Cars.com from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. DA Davidson reaffirmed a “buy” rating and set a $13.00 price target on shares of Cars.com in a research report on Monday, April 13th. BTIG Research reiterated a “buy” rating and issued a $14.00 price target on shares of Cars.com in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cars.com from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.83.

Cars.com Stock Performance

CARS opened at $12.01 on Tuesday. The business’s 50-day simple moving average is $11.05 and its 200 day simple moving average is $10.31. Cars.com has a 52-week low of $7.40 and a 52-week high of $13.97. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.87 and a current ratio of 2.00. The firm has a market capitalization of $642.90 million, a PE ratio of 21.07 and a beta of 1.60.

Cars.com (NYSE:CARS) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $179.93 million during the quarter, compared to the consensus estimate of $180.53 million. Cars.com had a return on equity of 18.82% and a net margin of 4.73%.The business’s revenue was up .7% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. As a group, sell-side analysts expect that Cars.com will post 1.59 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Sonia Jain sold 34,021 shares of Cars.com stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $9.49, for a total transaction of $322,859.29. Following the completion of the sale, the chief financial officer owned 312,833 shares of the company’s stock, valued at approximately $2,968,785.17. The trade was a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.36% of the company’s stock.

Institutional Investors Weigh In On Cars.com

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Cars.com by 30.0% during the second quarter. BNP Paribas Financial Markets now owns 7,025 shares of the company’s stock worth $83,000 after acquiring an additional 1,623 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Cars.com by 436.0% in the second quarter. Tower Research Capital LLC TRC now owns 7,960 shares of the company’s stock valued at $94,000 after purchasing an additional 6,475 shares during the last quarter. Virtus Advisers LLC bought a new position in shares of Cars.com during the third quarter worth approximately $100,000. State of Wyoming bought a new position in shares of Cars.com during the second quarter worth approximately $115,000. Finally, AXA S.A. acquired a new stake in Cars.com during the 2nd quarter worth approximately $126,000. 89.15% of the stock is currently owned by institutional investors and hedge funds.

Cars.com Company Profile

Cars.com operates as a leading online automotive marketplace in the United States, connecting car shoppers with new and used vehicle listings from dealerships and private sellers. The platform enables consumers to research makes and models, compare prices, read expert and user reviews, and access tools such as TrueCost to estimate ownership expenses over time. Through its website and mobile applications, Cars.com aims to simplify the car-buying process by aggregating detailed vehicle data, payment calculators, and dealership ratings into a single user-friendly experience.

On the dealer side, Cars.com provides a suite of marketing and lead-generation services designed to help automotive retailers reach potential buyers and manage their online presence.