UBS Group Begins Coverage on Cars.com (NYSE:CARS)

UBS Group assumed coverage on shares of Cars.com (NYSE:CARS) in a report released on Friday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $20.00 price target on the stock.

A number of other brokerages have also issued reports on CARS. TheStreet raised Cars.com from a c+ rating to a b rating in a research note on Thursday, June 29th. B. Riley began coverage on Cars.com in a research report on Wednesday, July 19th. They set a buy rating and a $26.00 price objective on the stock. JPMorgan Chase & Co. began coverage on Cars.com in a research report on Tuesday, June 27th. They set an overweight rating and a $23.00 price objective on the stock. Finally, Craig Hallum lifted their price objective on Cars.com from $22.00 to $24.00 in a research report on Friday, August 4th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cars.com currently has an average rating of Moderate Buy and a consensus target price of $23.21.

Cars.com Stock Performance

Shares of NYSE:CARS opened at $17.22 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.30 and a quick ratio of 1.30. The business’s 50 day moving average price is $19.94 and its 200-day moving average price is $19.09. The firm has a market capitalization of $1.14 billion, a PE ratio of 10.44 and a beta of 2.02. Cars.com has a 1 year low of $10.91 and a 1 year high of $22.84.

Cars.com (NYSE:CARS) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.91. The firm had revenue of $168.20 million for the quarter, compared to analyst estimates of $168.97 million. Cars.com had a return on equity of 27.83% and a net margin of 16.90%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 earnings per share. As a group, equities research analysts expect that Cars.com will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Cars.com

In other Cars.com news, CEO Thomas Alex Vetter sold 17,666 shares of Cars.com stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $19.00, for a total value of $335,654.00. Following the sale, the chief executive officer now owns 657,215 shares in the company, valued at $12,487,085. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.59% of the company’s stock.

Institutional Investors Weigh In On Cars.com

A number of institutional investors have recently modified their holdings of the company. MetLife Investment Management LLC grew its stake in Cars.com by 55.2% during the 1st quarter. MetLife Investment Management LLC now owns 37,039 shares of the company’s stock worth $534,000 after purchasing an additional 13,181 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Cars.com by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,998 shares of the company’s stock worth $808,000 after purchasing an additional 6,904 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cars.com by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,505,811 shares of the company’s stock worth $50,591,000 after purchasing an additional 45,753 shares in the last quarter. Quantedge Capital Pte Ltd acquired a new position in Cars.com during the 1st quarter worth $215,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Cars.com during the 1st quarter worth $1,534,000. 88.77% of the stock is owned by institutional investors and hedge funds.

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.