Zacks Investment Research Lowers Cars.com (CARS) to Hold
Cars.com (NYSE:CARS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
A number of other equities analysts have also recently issued reports on CARS. Barrington Research increased their target price on Cars.com from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. B. Riley cut their target price on Cars.com from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Finally, ValuEngine cut Cars.com from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $35.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. purchased a new stake in Cars.com in the 4th quarter valued at $105,000. AlphaOne Investment Services LLC purchased a new stake in Cars.com in the 4th quarter valued at $107,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Cars.com by 385.9% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,666 shares of the company’s stock valued at $163,000 after buying an additional 4,500 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Cars.com in the 3rd quarter valued at $212,000. Finally, OppenheimerFunds Inc. purchased a new stake in Cars.com in the 4th quarter valued at $223,000.
Cars.com Company Profile
Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.
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