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

Cars.com (NYSE:CARS) was upgraded by stock analysts 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.

Several other analysts also recently issued reports on the company. DA Davidson restated a “buy” rating and issued a $13.00 price objective on shares of Cars.com in a research report on Monday, April 13th. BTIG Research reiterated a “buy” rating and set a $14.00 price objective on shares of Cars.com in a research report on Thursday, August 6th. B. Riley Financial lowered shares of Cars.com from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Friday, May 8th. UBS Group raised their price target on shares of Cars.com from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Cars.com from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 13th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.83.

Cars.com Price Performance

Cars.com stock opened at $12.01 on Tuesday. Cars.com has a 52 week low of $7.40 and a 52 week high of $13.97. The company has a quick ratio of 1.87, a current ratio of 2.00 and a debt-to-equity ratio of 1.01. The firm’s 50-day simple moving average is $11.05 and its 200 day simple moving average is $10.31. 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 earnings results on Thursday, August 6th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate 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 net margin of 4.73% and a return on equity of 18.82%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. On average, equities research analysts predict that Cars.com will post 1.59 EPS for the current fiscal year.

Insider Activity

In related news, CFO Sonia Jain sold 34,021 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $9.49, for a total value of $322,859.29. Following the sale, the chief financial officer directly owned 312,833 shares of the company’s stock, valued at approximately $2,968,785.17. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.36% of the company’s stock.

Hedge Funds Weigh In On Cars.com

A number of large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in shares of Cars.com by 30.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,025 shares of the company’s stock valued at $83,000 after purchasing an additional 1,623 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Cars.com by 436.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,960 shares of the company’s stock valued at $94,000 after buying an additional 6,475 shares during the period. Virtus Advisers LLC acquired a new stake in shares of Cars.com during the 3rd quarter worth $100,000. State of Wyoming acquired a new stake in shares of Cars.com during the 2nd quarter worth $115,000. Finally, AXA S.A. purchased a new position in shares of Cars.com in the 2nd quarter worth $126,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.

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.