Shares of Cars.com Inc. (NYSE:CARS - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.80 and last traded at $11.47, with a volume of 868808 shares. The stock had previously closed at $11.27.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Cars.com from $21.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, February 28th. Barrington Research reaffirmed an "outperform" rating and set a $25.00 price target on shares of Cars.com in a research note on Tuesday, March 4th. Finally, DA Davidson lowered their target price on Cars.com from $21.00 to $14.50 and set a "buy" rating for the company in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Cars.com currently has an average rating of "Moderate Buy" and an average target price of $20.50.
View Our Latest Research Report on CARS
Cars.com Stock Performance
The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79. The business has a 50 day moving average price of $15.48 and a two-hundred day moving average price of $16.76. The company has a market cap of $741.39 million, a P/E ratio of 20.02 and a beta of 2.16.
Institutional Investors Weigh In On Cars.com
Hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its holdings in Cars.com by 193.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company's stock valued at $29,000 after purchasing an additional 1,079 shares during the period. Sterling Capital Management LLC increased its holdings in Cars.com by 813.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock valued at $37,000 after purchasing an additional 1,878 shares during the period. Advisors Asset Management Inc. increased its holdings in Cars.com by 145.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company's stock valued at $53,000 after purchasing an additional 1,864 shares during the period. Quarry LP increased its holdings in Cars.com by 184.5% during the 4th quarter. Quarry LP now owns 3,476 shares of the company's stock valued at $60,000 after purchasing an additional 2,254 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Cars.com during the 4th quarter valued at about $61,000. Institutional investors own 89.15% of the company's stock.
Cars.com Company Profile
(
Get Free Report)
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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