Cars.com (NYSE:CARS) Trading 4.9% Higher - Here's What Happened

Cars.com Inc. (NYSE:CARS - Get Free Report) rose 4.9% during trading on Friday . The stock traded as high as $12.62 and last traded at $12.62. Approximately 167,784 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 469,747 shares. The stock had previously closed at $12.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CARS shares. Barrington Research reaffirmed an "outperform" rating and set a $25.00 target price on shares of Cars.com in a research note on Monday, February 24th. DA Davidson lowered their price objective on shares of Cars.com from $21.00 to $14.50 and set a "buy" rating for the company in a report on Friday. JPMorgan Chase & Co. reduced their target price on Cars.com from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday. Finally, UBS Group increased their target price on Cars.com from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.

Cars.com Price Performance

The firm has a market cap of $831.90 million, a P/E ratio of 22.16 and a beta of 2.15. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79. The firm's 50 day moving average is $17.13 and its 200 day moving average is $17.40.

Institutional Trading of Cars.com

A number of hedge funds have recently made changes to their positions in CARS. Pacer Advisors Inc. raised its stake in Cars.com by 62,357.6% during the third quarter. Pacer Advisors Inc. now owns 2,493,932 shares of the company's stock valued at $41,798,000 after buying an additional 2,489,939 shares during the last quarter. Boston Partners increased its holdings in shares of Cars.com by 26.0% during the fourth quarter. Boston Partners now owns 3,178,426 shares of the company's stock valued at $55,021,000 after acquiring an additional 655,518 shares in the last quarter. SG Capital Management LLC bought a new position in shares of Cars.com during the fourth quarter valued at $10,908,000. Arrowstreet Capital Limited Partnership raised its position in shares of Cars.com by 609.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 442,889 shares of the company's stock worth $7,675,000 after purchasing an additional 380,439 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC bought a new position in Cars.com in the 4th quarter worth about $4,460,000. 89.15% of the stock is owned by 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.