Zacks Investment Research upgraded shares of Cars.com (NYSE:CARS) from a strong sell rating to a hold rating in a research note released on Tuesday morning.
According to Zacks, “Cars.com Inc. operates an online automotive platform. The Company offers new and used vehicle listings, expert and consumer reviews, research tools and other information. It also engaged in the sale of display advertising to national advertisers. Cars.com Inc. is based in Chicago, United States. “
Several other brokerages also recently weighed in on CARS. Barrington Research reaffirmed a buy rating on shares of Cars.com in a research note on Thursday, October 4th. Benchmark reaffirmed a hold rating on shares of Cars.com in a research note on Thursday, August 9th. Finally, ValuEngine downgraded Cars.com from a hold rating to a sell rating in a research note on Tuesday, August 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Cars.com has an average rating of Hold and a consensus price target of $37.13.
Cars.com (NYSE:CARS) last announced its earnings results on Wednesday, August 8th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.39). The business had revenue of $168.50 million for the quarter, compared to the consensus estimate of $171.75 million. Cars.com had a net margin of 28.90% and a return on equity of 7.78%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. On average, research analysts forecast that Cars.com will post 1.99 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Cars.com by 9.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,001,230 shares of the company’s stock worth $28,426,000 after buying an additional 84,507 shares in the last quarter. AMG Funds LLC raised its stake in shares of Cars.com by 9.3% in the 2nd quarter. AMG Funds LLC now owns 57,179 shares of the company’s stock worth $1,623,000 after buying an additional 4,846 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Cars.com by 168.4% in the 1st quarter. Guggenheim Capital LLC now owns 91,540 shares of the company’s stock worth $2,594,000 after buying an additional 57,431 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Cars.com in the 1st quarter worth $484,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Cars.com in the 2nd quarter worth $3,260,000.
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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