JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Cars.com (NYSE:CARS) Stock

Cars.com (NYSE:CARS - Get Free Report) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $20.00 to $21.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 13.45% from the company's current price.

A number of other research analysts have also weighed in on CARS. B. Riley cut their price objective on Cars.com from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, August 9th. UBS Group reduced their target price on shares of Cars.com from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $25.00 price target on shares of Cars.com in a report on Monday.

Cars.com Stock Up 3.7 %

Shares of CARS stock traded up $0.66 during mid-day trading on Friday, hitting $18.51. The stock had a trading volume of 826,894 shares, compared to its average volume of 481,129. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.53 and a quick ratio of 1.53. Cars.com has a 12-month low of $15.05 and a 12-month high of $21.24. The firm's 50-day moving average is $16.63 and its two-hundred day moving average is $17.98. The firm has a market capitalization of $1.22 billion, a P/E ratio of 50.03 and a beta of 2.10.

Cars.com (NYSE:CARS - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). The business had revenue of $178.89 million for the quarter, compared to analysts' expectations of $181.51 million. Cars.com had a return on equity of 6.70% and a net margin of 3.51%. On average, analysts predict that Cars.com will post 1.2 earnings per share for the current fiscal year.

Institutional Trading of Cars.com

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cars.com by 30.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,907 shares of the company's stock worth $1,056,000 after acquiring an additional 13,526 shares during the period. BNP Paribas Financial Markets lifted its holdings in Cars.com by 3.9% in the first quarter. BNP Paribas Financial Markets now owns 61,314 shares of the company's stock valued at $1,053,000 after acquiring an additional 2,308 shares during the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Cars.com by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 53,906 shares of the company's stock valued at $926,000 after purchasing an additional 698 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Cars.com during the 1st quarter worth $28,000. Finally, Russell Investments Group Ltd. increased its position in shares of Cars.com by 50.3% during the 1st quarter. Russell Investments Group Ltd. now owns 615,408 shares of the company's stock worth $10,573,000 after purchasing an additional 205,871 shares during the last quarter. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

About Cars.com

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.