JPMorgan Chase & Co. Upgrades Cars.com (NYSE:CARS) to "Overweight"

Cars.com (NYSE:CARS - Get Free Report) was upgraded by research analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $14.00 price objective on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 8.95% from the company's previous close.

Separately, UBS Group lowered their price target on Cars.com from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $18.30.

Cars.com Stock Down 1.0%

NYSE CARS traded down $0.13 during trading on Thursday, reaching $12.85. 720,982 shares of the company's stock were exchanged, compared to its average volume of 693,144. The stock has a market cap of $816.36 million, a P/E ratio of 18.90 and a beta of 1.86. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.65 and a current ratio of 1.65. The company has a 50 day moving average price of $11.21 and a two-hundred day moving average price of $13.05. Cars.com has a 1 year low of $9.56 and a 1 year high of $21.24.

Cars.com (NYSE:CARS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Cars.com had a net margin of 6.32% and a return on equity of 16.86%. The firm had revenue of $179.02 million during the quarter, compared to analysts' expectations of $179.82 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The firm's revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts anticipate that Cars.com will post 1.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Thomas Alex Vetter bought 27,870 shares of the firm's stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $10.75 per share, for a total transaction of $299,602.50. Following the completion of the purchase, the chief executive officer directly owned 844,897 shares in the company, valued at approximately $9,082,642.75. The trade was a 3.41% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cars.com

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC increased its holdings in shares of Cars.com by 813.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,109 shares of the company's stock valued at $37,000 after buying an additional 1,878 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Cars.com by 624.9% in the first quarter. GAMMA Investing LLC now owns 4,690 shares of the company's stock valued at $53,000 after buying an additional 4,043 shares in the last quarter. Quarry LP increased 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 valued at $60,000 after buying an additional 2,254 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Cars.com in the fourth quarter valued at $61,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Cars.com by 22.9% in the first quarter. PNC Financial Services Group Inc. now owns 5,425 shares of the company's stock valued at $61,000 after buying an additional 1,010 shares in the last quarter. 89.15% of the stock is currently 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.