Cars.com’s (CARS) Buy Rating Reaffirmed at DA Davidson

DA Davidson reiterated their buy rating on shares of Cars.com (NYSE:CARS) in a report published on Tuesday,Benzinga reports. They currently have a $13.50 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen raised shares of Cars.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cars.com in a research note on Thursday, October 30th. B. Riley reiterated a “buy” rating and set a $22.00 price objective (up from $21.00) on shares of Cars.com in a report on Friday, August 8th. Zacks Research downgraded Cars.com from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Cars.com in a research report on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.70.

Cars.com Trading Up 1.0%

NYSE:CARS opened at $11.33 on Tuesday. The stock has a market cap of $677.86 million, a PE ratio of 18.28 and a beta of 1.74. Cars.com has a fifty-two week low of $9.56 and a fifty-two week high of $20.47. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.82 and a quick ratio of 1.82. The stock’s 50-day moving average is $11.64 and its two-hundred day moving average is $11.80.

Cars.com (NYSE:CARS) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The company had revenue of $181.57 million during the quarter, compared to analysts’ expectations of $181.37 million. Cars.com had a return on equity of 17.43% and a net margin of 5.71%.Cars.com’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. As a group, equities research analysts forecast that Cars.com will post 1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cars.com

Hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its position in shares of Cars.com by 13.2% in the first quarter. Envestnet Asset Management Inc. now owns 398,000 shares of the company’s stock worth $4,485,000 after buying an additional 46,562 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Cars.com by 157.7% in the 1st quarter. Victory Capital Management Inc. now owns 151,603 shares of the company’s stock valued at $1,709,000 after acquiring an additional 92,780 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Cars.com in the 1st quarter valued at approximately $558,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Cars.com in the 1st quarter worth approximately $362,000. Finally, Cetera Investment Advisers bought a new stake in Cars.com during the first quarter worth approximately $368,000. 89.15% of the stock is owned by institutional investors and hedge funds.

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.