Cars.com (NYSE:CARS) Hits New 12-Month Low at $8.69

Cars.com Inc. (NYSE:CARS)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $8.69 and last traded at $8.72, with a volume of 348890 shares changing hands. The stock had previously closed at $8.85.

CARS has been the topic of several research analyst reports. Citigroup reissued a “buy” rating and issued a $19.00 price objective (down previously from $27.00) on shares of Cars.com in a research report on Tuesday, August 6th. B. Riley cut their price objective on Cars.com from $31.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. ValuEngine cut Cars.com from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 6th. TheStreet cut Cars.com from a “c” rating to a “d” rating in a research report on Monday, August 5th. Finally, BTIG Research cut Cars.com from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $24.31.

The company has a 50-day simple moving average of $17.07 and a two-hundred day simple moving average of $21.17. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.41. The firm has a market cap of $600.05 million, a PE ratio of 4.79, a PEG ratio of 1.35 and a beta of 0.69.

Cars.com (NYSE:CARS) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). Cars.com had a net margin of 1.59% and a return on equity of 6.51%. The firm had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $160.18 million. During the same period in the prior year, the company earned $0.48 EPS. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. As a group, equities analysts predict that Cars.com Inc. will post 1.34 earnings per share for the current year.

In other news, insider James F. Rogers purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $9.99 per share, with a total value of $99,900.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jr. Donald A. Mcgovern purchased 10,448 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $9.16 per share, for a total transaction of $95,703.68. The disclosure for this purchase can be found here. Insiders have bought a total of 47,948 shares of company stock worth $470,404 in the last ninety days. Insiders own 0.04% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CARS. Altshuler Shaham Ltd bought a new stake in shares of Cars.com during the 2nd quarter valued at $105,000. Marshall Wace LLP bought a new stake in shares of Cars.com during the 1st quarter valued at $63,000. Investors Research Corp bought a new stake in shares of Cars.com during the 1st quarter valued at $119,000. Meridian Investment Counsel Inc. bought a new stake in shares of Cars.com during the 1st quarter valued at $207,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Cars.com during the 2nd quarter valued at $180,000.

Cars.com Company Profile (NYSE:CARS)

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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