Cars.com (NYSE:CARS) Trading Up 3.4%

Cars.com Inc. (NYSE:CARS)’s share price was up 3.4% during trading on Tuesday . The stock traded as high as $17.80 and last traded at $17.80. Approximately 120,994 shares changed hands during trading, a decline of 72% from the average daily volume of 428,826 shares. The stock had previously closed at $17.22.

Analyst Ratings Changes

A number of analysts recently commented on CARS shares. Craig Hallum increased their price target on Cars.com from $22.00 to $24.00 in a research report on Friday, August 4th. UBS Group initiated coverage on Cars.com in a research note on Friday. They issued a “neutral” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of Cars.com in a research note on Tuesday, June 27th. They issued an “overweight” rating and a $23.00 target price for the company. TheStreet raised shares of Cars.com from a “c+” rating to a “b” rating in a report on Thursday, June 29th. Finally, B. Riley assumed coverage on Cars.com in a research report on Wednesday, July 19th. They issued a “buy” rating and a $26.00 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.21.

Cars.com Trading Up 3.6 %

The stock has a market cap of $1.19 billion, a P/E ratio of 10.44 and a beta of 2.02. The firm’s fifty day moving average price is $19.94 and its two-hundred day moving average price is $19.09. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.30 and a quick ratio of 1.30.

Cars.com (NYSE:CARS) last announced its earnings results on Thursday, August 3rd. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.91. The business had revenue of $168.20 million for the quarter, compared to analyst estimates of $168.97 million. Cars.com had a return on equity of 27.83% and a net margin of 16.90%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. As a group, equities research analysts forecast that Cars.com Inc. will post 0.44 EPS for the current year.

Insider Activity at Cars.com

In other news, CEO Thomas Alex Vetter sold 17,666 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $19.00, for a total value of $335,654.00. Following the transaction, the chief executive officer now owns 657,215 shares of the company’s stock, valued at approximately $12,487,085. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cars.com

A number of large investors have recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC lifted its stake in Cars.com by 0.8% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 172,843 shares of the company’s stock worth $3,336,000 after purchasing an additional 1,330 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in Cars.com during the 1st quarter valued at about $836,000. Globeflex Capital L P grew its position in Cars.com by 91.5% during the 4th quarter. Globeflex Capital L P now owns 116,832 shares of the company’s stock worth $1,609,000 after acquiring an additional 55,822 shares during the last quarter. AXS Investments LLC purchased a new position in Cars.com in the 1st quarter worth approximately $154,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Cars.com in the 1st quarter worth approximately $113,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.