Cars.com (NYSE:CARS) Hits New 12-Month Low on Disappointing Earnings

Cars.com Inc. (NYSE:CARS)’s stock price reached a new 52-week low during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $13.77 and last traded at $13.36, with a volume of 63695 shares. The stock had previously closed at $15.30.

The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.11). Cars.com had a return on equity of 9.99% and a net margin of 5.46%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. UBS Group boosted their target price on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Barrington Research restated an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research report on Monday.

Hedge Funds Weigh In On Cars.com

Institutional investors and hedge funds have recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in Cars.com by 35.9% in the 4th quarter. Nordea Investment Management AB now owns 280,475 shares of the company’s stock worth $4,939,000 after purchasing an additional 74,133 shares during the period. GSA Capital Partners LLP bought a new position in Cars.com in the 3rd quarter worth $1,222,000. Victory Capital Management Inc. raised its holdings in Cars.com by 130.9% in the 3rd quarter. Victory Capital Management Inc. now owns 46,344 shares of the company’s stock worth $777,000 after purchasing an additional 26,276 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in Cars.com by 60.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 18,229 shares of the company’s stock worth $316,000 after purchasing an additional 6,855 shares during the period. Finally, FMR LLC raised its holdings in Cars.com by 1.7% in the 3rd quarter. FMR LLC now owns 9,902,561 shares of the company’s stock worth $165,967,000 after purchasing an additional 162,692 shares during the period. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Cars.com Trading Down 13.8 %

The stock has a fifty day moving average of $17.32 and a 200 day moving average of $17.46. The company has a market capitalization of $854.04 million, a P/E ratio of 23.17 and a beta of 2.15. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79.

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.