JPMorgan Chase & Co. Issues Pessimistic Forecast for Cars.com (NYSE:CARS) Stock Price

Cars.com (NYSE:CARS) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $17.00 to $14.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 23.90% from the company’s previous close.

A number of other research analysts have also recently issued reports on CARS. DA Davidson lowered their price objective 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. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of Cars.com in a report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.90.

Cars.com Trading Down 3.9 %

Shares of NYSE CARS opened at $11.30 on Thursday. Cars.com has a 1 year low of $10.80 and a 1 year high of $21.24. 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 has a 50-day moving average of $14.93 and a 200 day moving average of $16.58. The stock has a market cap of $721.41 million, a P/E ratio of 19.48 and a beta of 2.16.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its position in Cars.com by 193.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company’s stock worth $29,000 after purchasing an additional 1,079 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Cars.com by 813.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,109 shares of the company’s stock worth $37,000 after buying an additional 1,878 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Cars.com by 145.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock worth $53,000 after buying an additional 1,864 shares during the last quarter. Quarry LP grew its holdings in shares of Cars.com by 184.5% in the fourth quarter. Quarry LP now owns 3,476 shares of the company’s stock worth $60,000 after acquiring an additional 2,254 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in Cars.com during the fourth quarter valued at $61,000. 89.15% of the stock is 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.