Cars.com (CARS) Sees Large Volume Increase

Cars.com Inc (NYSE:CARS) shares saw strong trading volume on Friday . 2,017,880 shares traded hands during mid-day trading, an increase of 46% from the previous session’s volume of 1,384,322 shares.The stock last traded at $27.97 and had previously closed at $29.82.

A number of analysts have recently weighed in on the company. Zacks Investment Research raised Cars.com from a “sell” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Tuesday, January 9th. B. Riley reaffirmed a “buy” rating and set a $36.00 price target (up previously from $32.00) on shares of Cars.com in a research report on Friday, January 5th. ValuEngine cut Cars.com from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Benchmark initiated coverage on Cars.com in a research report on Thursday. They set a “hold” rating for the company. Finally, Barrington Research reaffirmed a “buy” rating and set a $42.50 price target on shares of Cars.com in a research report on Sunday, February 18th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Cars.com has a consensus rating of “Buy” and an average target price of $34.88.

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The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.33.

Cars.com (NYSE:CARS) last issued its quarterly earnings results on Tuesday, March 6th. The company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.16. Cars.com had a return on equity of 8.16% and a net margin of 35.84%. The company had revenue of $156.57 million during the quarter, compared to analysts’ expectations of $156.30 million. The business’s quarterly revenue was down 3.2% on a year-over-year basis. research analysts predict that Cars.com Inc will post 1.09 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. First Mercantile Trust Co. acquired a new stake in Cars.com during the 4th quarter worth about $105,000. AlphaOne Investment Services LLC acquired a new stake in Cars.com during the 4th quarter worth about $107,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in Cars.com by 385.9% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,666 shares of the company’s stock worth $163,000 after acquiring an additional 4,500 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Cars.com during the 3rd quarter valued at about $212,000. Finally, OppenheimerFunds Inc. purchased a new position in shares of Cars.com during the 4th quarter valued at about $223,000.

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Cars.com Company Profile

Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.

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