Cars.com (NYSE:CARS) Raised to “Outperform” at Barrington Research

Cars.com (NYSE:CARS) was upgraded by equities research analysts at Barrington Research from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

Several other equities analysts also recently commented on CARS. BTIG Research downgraded Cars.com from a “buy” rating to a “neutral” rating in a research report on Monday, August 5th. ValuEngine raised Cars.com from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup reaffirmed 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. TheStreet downgraded Cars.com from a “c” rating to a “d” rating in a research report on Monday, August 5th. Finally, Zacks Investment Research raised Cars.com from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Cars.com presently has a consensus rating of “Buy” and an average price target of $24.31.

Cars.com stock traded up $0.64 during mid-day trading on Wednesday, hitting $12.49. The company’s stock had a trading volume of 68,591 shares, compared to its average volume of 975,511. The company has a 50 day moving average of $10.18 and a 200-day moving average of $15.79. The stock has a market cap of $801.47 million, a PE ratio of 6.78, a P/E/G ratio of 2.19 and a beta of 1.09. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.00. Cars.com has a one year low of $8.23 and a one year high of $28.50.

Cars.com (NYSE:CARS) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.08). The business had revenue of $148.20 million during the quarter, compared to the consensus estimate of $160.18 million. Cars.com had a net margin of 1.59% and a return on equity of 6.51%. The business’s revenue was down 12.0% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. On average, equities research analysts forecast that Cars.com will post 1.1 EPS for the current fiscal year.

In other news, CEO Thomas Alex Vetter purchased 11,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average price of $9.58 per share, with a total value of $105,380.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 26,448 shares of company stock worth $247,234 in the last three months. Corporate insiders own 0.35% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pension Partners LLC purchased a new stake in Cars.com in the second quarter valued at about $197,000. Sicart Associates LLC raised its stake in shares of Cars.com by 42.8% in the second quarter. Sicart Associates LLC now owns 253,220 shares of the company’s stock worth $4,993,000 after purchasing an additional 75,890 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Cars.com in the second quarter worth about $180,000. JPMorgan Chase & Co. raised its stake in shares of Cars.com by 22.8% in the second quarter. JPMorgan Chase & Co. now owns 502,838 shares of the company’s stock worth $9,971,000 after purchasing an additional 93,245 shares during the last quarter. Finally, AlphaOne Investment Services LLC raised its stake in shares of Cars.com by 627.8% in the second quarter. AlphaOne Investment Services LLC now owns 20,539 shares of the company’s stock worth $405,000 after purchasing an additional 17,717 shares during the last quarter.

About Cars.com

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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Analyst Recommendations for Cars.com (NYSE:CARS)

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