Cars.com (NYSE:CARS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Other equities research analysts also recently issued research reports about the stock. BTIG Research began coverage on shares of Cars.com in a research report on Tuesday, November 13th. They set a “neutral” rating for the company. ValuEngine raised shares of Cars.com from a “sell” rating to a “hold” rating in a research report on Tuesday, October 23rd. Barrington Research reissued a “buy” rating on shares of Cars.com in a research report on Monday, November 12th. Finally, Benchmark reissued a “hold” rating on shares of Cars.com in a research report on Thursday, August 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Cars.com presently has a consensus rating of “Hold” and an average target price of $37.13.
Cars.com (NYSE:CARS) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). The firm had revenue of $169.30 million for the quarter, compared to the consensus estimate of $168.04 million. Cars.com had a net margin of 27.69% and a return on equity of 7.77%. Cars.com’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS. On average, sell-side analysts expect that Cars.com will post 1.85 EPS for the current year.
A number of large investors have recently bought and sold shares of CARS. Dimensional Fund Advisors LP grew its position in Cars.com by 45.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,519,222 shares of the company’s stock worth $128,301,000 after purchasing an additional 1,409,984 shares during the period. Sei Investments Co. grew its position in Cars.com by 1,277.4% in the 2nd quarter. Sei Investments Co. now owns 867,726 shares of the company’s stock worth $24,636,000 after purchasing an additional 804,727 shares during the period. Starboard Value LP grew its position in Cars.com by 10.1% in the 3rd quarter. Starboard Value LP now owns 6,292,000 shares of the company’s stock worth $173,722,000 after purchasing an additional 575,000 shares during the period. Wells Fargo & Company MN grew its position in Cars.com by 311.8% in the 2nd quarter. Wells Fargo & Company MN now owns 551,092 shares of the company’s stock worth $15,645,000 after purchasing an additional 417,266 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC bought a new stake in Cars.com in the 3rd quarter worth approximately $9,649,000.
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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