Cars.com’s (CARS) “Buy” Rating Reiterated at DA Davidson

Cars.com (NYSE:CARS)‘s stock had its “buy” rating restated by stock analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $13.50 target price on the stock. DA Davidson’s target price points to a potential upside of 19.10% from the stock’s current price.

A number of other research analysts also recently commented on the stock. B. Riley reaffirmed a “buy” rating and set a $22.00 price objective (up from $21.00) on shares of Cars.com in a research report on Friday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Cars.com from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Zacks Research lowered Cars.com from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Wall Street Zen upgraded shares of Cars.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Cars.com in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Cars.com currently has a consensus rating of “Moderate Buy” and an average price target of $17.70.

Cars.com Stock Performance

Shares of CARS traded up $0.12 during trading hours on Tuesday, reaching $11.34. 365,746 shares of the company’s stock traded hands, compared to its average volume of 817,519. The firm has a market capitalization of $677.98 million, a price-to-earnings ratio of 18.32 and a beta of 1.74. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.82 and a quick ratio of 1.82. Cars.com has a twelve month low of $9.56 and a twelve month high of $20.47. The business’s fifty day simple moving average is $11.68 and its two-hundred day simple moving average is $11.81.

Cars.com (NYSE:CARS) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The business had revenue of $181.57 million for the quarter, compared to the consensus estimate of $181.37 million. Cars.com had a net margin of 5.71% and a return on equity of 17.43%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. Analysts predict that Cars.com will post 1.19 earnings per share for the current year.

Institutional Investors Weigh In On Cars.com

Large investors have recently made changes to their positions in the company. Hill Path Capital LP increased its position in shares of Cars.com by 23.2% during the 3rd quarter. Hill Path Capital LP now owns 2,481,032 shares of the company’s stock worth $30,318,000 after purchasing an additional 468,000 shares in the last quarter. Brown Advisory Inc. bought a new stake in Cars.com during the second quarter worth about $16,456,000. American Century Companies Inc. increased its holdings in shares of Cars.com by 13.0% during the third quarter. American Century Companies Inc. now owns 1,203,622 shares of the company’s stock worth $14,708,000 after buying an additional 138,229 shares in the last quarter. Par Capital Management Inc. bought a new position in shares of Cars.com in the second quarter valued at approximately $14,220,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Cars.com by 23.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,057,322 shares of the company’s stock worth $12,920,000 after acquiring an additional 198,077 shares in the last quarter. 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.