Cars.com (NYSE:CARS) Stock Rating Upgraded by Zacks Investment Research

Cars.com (NYSE:CARS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $24.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.12% from the company’s previous close.

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 also recently weighed in on CARS. ValuEngine downgraded shares of Willdan Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Citigroup reaffirmed a “buy” rating and issued a $25.00 price target on shares of Propetro in a research note on Tuesday, July 2nd. Goldman Sachs Group set a €137.00 ($159.30) price target on shares of Safran and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Barrington Research decreased their price target on shares of CBS from $72.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. Cars.com has a consensus rating of “Hold” and an average price target of $27.36.

NYSE CARS traded down $0.16 during mid-day trading on Tuesday, reaching $21.03. 19,784 shares of the stock were exchanged, compared to its average volume of 997,479. Cars.com has a one year low of $19.05 and a one year high of $32.94. The company has a 50 day moving average of $20.96. The stock has a market cap of $1.39 billion, a PE ratio of 11.52, a P/E/G ratio of 2.80 and a beta of 0.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.17 and a current ratio of 1.17.

Cars.com (NYSE:CARS) last announced its earnings results on Friday, May 10th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Cars.com had a return on equity of 7.34% and a net margin of 4.40%. The firm had revenue of $154.20 million for the quarter, compared to the consensus estimate of $152.29 million. During the same period in the prior year, the business earned $0.39 EPS. Cars.com’s quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts expect that Cars.com will post 1.52 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Cars.com by 1.2% during the fourth quarter. BlackRock Inc. now owns 7,769,635 shares of the company’s stock valued at $167,047,000 after buying an additional 95,403 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Cars.com by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,803,943 shares of the company’s stock worth $124,785,000 after purchasing an additional 462,594 shares during the last quarter. Sapience Investments LLC boosted its holdings in Cars.com by 134.5% during the first quarter. Sapience Investments LLC now owns 1,375,630 shares of the company’s stock worth $31,364,000 after purchasing an additional 788,980 shares during the last quarter. FMR LLC boosted its holdings in Cars.com by 26.7% during the first quarter. FMR LLC now owns 1,052,622 shares of the company’s stock worth $24,000,000 after purchasing an additional 222,027 shares during the last quarter. Finally, Norges Bank purchased a new position in Cars.com during the fourth quarter worth about $20,127,000.

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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