Zacks Investment Research upgraded shares of Cars.com (NYSE:CARS) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
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 firms have also recently issued reports on CARS. Benchmark reaffirmed a hold rating on shares of Cars.com in a report on Thursday, August 9th. ValuEngine cut Cars.com from a hold rating to a sell rating in a report on Tuesday, August 28th. Barrington Research reaffirmed a buy rating on shares of Cars.com in a report on Thursday, October 4th. Finally, BTIG Research assumed coverage on Cars.com in a report on Tuesday, November 13th. They issued a neutral rating on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $35.10.
NYSE CARS opened at $24.27 on Wednesday. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 10.64, a P/E/G ratio of 2.71 and a beta of 0.21. Cars.com has a 1 year low of $23.69 and a 1 year high of $32.94. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.41.
Cars.com (NYSE:CARS) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). The company had revenue of $169.30 million during the quarter, compared to the consensus estimate of $168.04 million. Cars.com had a net margin of 27.69% and a return on equity of 7.77%. Cars.com’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. As a group, analysts anticipate that Cars.com will post 1.85 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in Cars.com by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 310,627 shares of the company’s stock valued at $8,800,000 after purchasing an additional 8,284 shares during the period. New York State Teachers Retirement System raised its stake in Cars.com by 6.8% during the 2nd quarter. New York State Teachers Retirement System now owns 130,769 shares of the company’s stock valued at $3,713,000 after purchasing an additional 8,300 shares during the period. Wells Fargo & Company MN raised its stake in Cars.com by 311.8% during the 2nd quarter. Wells Fargo & Company MN now owns 551,092 shares of the company’s stock valued at $15,645,000 after purchasing an additional 417,266 shares during the period. First Trust Advisors LP acquired a new stake in Cars.com during the 2nd quarter valued at $2,424,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in Cars.com during the 2nd quarter valued at $943,000.
Cars.com Company Profile
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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