Other equities research analysts have also recently issued reports about the stock. BTIG Research raised shares of Cars.com from a neutral rating to a buy rating and set a $30.00 price target on the stock in a research note on Tuesday, January 22nd. Barrington Research reiterated a buy rating on shares of Cars.com in a report on Tuesday, March 5th. Goldman Sachs Group started coverage on shares of Cars.com in a report on Monday, March 18th. They set a neutral rating and a $23.00 price objective on the stock. Craig Hallum lowered shares of Cars.com from a buy rating to a hold rating and set a $25.00 price objective on the stock. in a report on Thursday, February 28th. Finally, DA Davidson cut their price objective on shares of Cars.com to $28.00 and set a positive rating on the stock in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $28.42.
Shares of Cars.com stock traded up $1.26 during mid-day trading on Tuesday, hitting $22.08. 2,213,534 shares of the stock were exchanged, compared to its average volume of 1,252,224. Cars.com has a twelve month low of $19.74 and a twelve month high of $32.94. The stock has a market capitalization of $1.47 billion, a P/E ratio of 12.13, a P/E/G ratio of 2.53 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.39.
Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Cars.com by 167.1% during the third quarter. JPMorgan Chase & Co. now owns 183,646 shares of the company’s stock valued at $5,071,000 after purchasing an additional 114,894 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Cars.com during the third quarter worth approximately $497,000. Hsbc Holdings PLC acquired a new stake in shares of Cars.com during the third quarter worth approximately $325,000. Riverhead Capital Management LLC boosted its holdings in Cars.com by 35.9% in the third quarter. Riverhead Capital Management LLC now owns 8,327 shares of the company’s stock worth $230,000 after purchasing an additional 2,200 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Cars.com in the third quarter worth $3,899,000.
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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