JPMorgan Chase & Co. Issues Positive Forecast for Cars.com (NYSE:CARS) Stock Price

Cars.com (NYSE:CARS) had its price objective upped by JPMorgan Chase & Co. from $15.00 to $16.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently commented on CARS. UBS Group upped their target price on Cars.com from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of Cars.com in a research note on Wednesday, October 8th. Barrington Research restated an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research note on Thursday, August 21st. Wall Street Zen upgraded Cars.com from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, B. Riley restated a “buy” rating and issued a $22.00 target price (up previously from $21.00) on shares of Cars.com in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.90.

Cars.com Stock Up 4.4%

Cars.com stock opened at $10.74 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.82 and a current ratio of 1.82. The business’s 50-day simple moving average is $12.62 and its two-hundred day simple moving average is $11.88. The company has a market cap of $660.05 million, a PE ratio of 17.33 and a beta of 1.76. Cars.com has a fifty-two week low of $9.56 and a fifty-two week high of $20.47.

Cars.com (NYSE:CARS) last issued its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.04). Cars.com had a return on equity of 17.43% and a net margin of 5.71%.The company had revenue of $178.74 million during the quarter, compared to analysts’ expectations of $179.43 million. During the same quarter in the previous year, the company earned $0.38 EPS. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Equities analysts anticipate that Cars.com will post 1.19 EPS for the current year.

Insider Buying and Selling at Cars.com

In other news, insider Matthew B. Crawford sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $11.77, for a total value of $176,550.00. Following the transaction, the insider owned 98,461 shares in the company, valued at $1,158,885.97. This trade represents a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cars.com

Several hedge funds and other institutional investors have recently made changes to their positions in CARS. CWM LLC lifted its position in shares of Cars.com by 119.9% in the second quarter. CWM LLC now owns 4,227 shares of the company’s stock valued at $50,000 after acquiring an additional 2,305 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Cars.com by 624.9% in the first quarter. GAMMA Investing LLC now owns 4,690 shares of the company’s stock valued at $53,000 after purchasing an additional 4,043 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Cars.com by 22.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company’s stock valued at $61,000 after purchasing an additional 1,010 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Cars.com by 30.0% in the second 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. Finally, Tower Research Capital LLC TRC increased its holdings 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. Hedge funds and other institutional investors own 89.15% of the company’s stock.

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.