JPMorgan Chase & Co. Increases Cars.com (NYSE:CARS) Price Target to $16.00

Key Points

• JPMorgan Chase & Co. raised its price target for Cars.com from $15.00 to $16.00, indicating a potential upside of 55.19% from the current stock price.
• Four research analysts have rated Cars.com with a Buy rating, while three have assigned a Hold rating, leading to an average price target of $17.90.
• Cars.com reported earnings of $0.41 per share for the last quarter, missing expectations by $0.04 amidst a slight revenue decrease year-over-year.

Cars.com (NYSE:CARS - Get Free Report) had its price target raised by analysts at JPMorgan Chase & Co. from $15.00 to $16.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 55.19% from the stock's current price.

A number of other research analysts have also issued reports on CARS. Wall Street Zen upgraded shares of Cars.com from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings reissued a "hold (c)" rating on shares of Cars.com in a research note on Wednesday, October 8th. UBS Group increased their price objective on Cars.com from $11.00 to $12.00 and gave the stock a "neutral" rating in a research report on Monday, October 6th. B. Riley restated a "buy" rating and set a $22.00 target price (up from $21.00) on shares of Cars.com in a research report on Friday, August 8th. Finally, Barrington Research reiterated an "outperform" rating and issued a $25.00 price target on shares of Cars.com in a report on Thursday, August 21st. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $17.90.

Cars.com Stock Up 1.3%

CARS opened at $10.31 on Tuesday. Cars.com has a 52 week low of $9.56 and a 52 week high of $20.47. The business has a 50 day moving average price of $12.66 and a two-hundred day moving average price of $11.88. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.94. The company has a market cap of $633.45 million, a PE ratio of 16.63 and a beta of 1.76.

Cars.com (NYSE:CARS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). Cars.com had a net margin of 5.71% and a return on equity of 17.43%. The company had revenue of $178.74 million during the quarter, compared to analyst estimates of $179.43 million. During the same period in the previous year, the firm posted $0.38 EPS. The company's revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts anticipate that Cars.com will post 1.19 EPS for the current year.

Insiders Place Their Bets

In other news, insider Matthew B. Crawford sold 15,000 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $11.77, for a total value of $176,550.00. Following the completion of the transaction, the insider directly owned 98,461 shares of the company's stock, valued at $1,158,885.97. The trade was a 13.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.12% of the company's stock.

Institutional Investors Weigh In On Cars.com

Several hedge funds have recently modified their holdings of the company. CWM LLC raised its position in shares of Cars.com by 119.9% in the second quarter. CWM LLC now owns 4,227 shares of the company's stock valued at $50,000 after buying an additional 2,305 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Cars.com by 624.9% during the 1st quarter. GAMMA Investing LLC now owns 4,690 shares of the company's stock worth $53,000 after purchasing an additional 4,043 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Cars.com by 22.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company's stock worth $61,000 after purchasing an additional 1,010 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Cars.com by 30.0% in the second quarter. BNP Paribas Financial Markets now owns 7,025 shares of the company's stock valued at $83,000 after purchasing an additional 1,623 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Cars.com by 436.0% during the second quarter. Tower Research Capital LLC TRC now owns 7,960 shares of the company's stock worth $94,000 after buying an additional 6,475 shares during the period. 89.15% of the stock is owned by institutional investors and hedge funds.

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.

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