Cars.com (NYSE:CARS) Trading Down 6.3%

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Cars.com Inc. (NYSE:CARS) dropped 6.3% during trading on Wednesday . The stock traded as low as $9.70 and last traded at $10.00, approximately 1,892,533 shares were traded during mid-day trading. An increase of 43% from the average daily volume of 1,323,083 shares. The stock had previously closed at $10.67.

CARS has been the subject of several analyst reports. Craig Hallum upgraded Cars.com from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Monday. They noted that the move was a valuation call. ValuEngine downgraded Cars.com from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 6th. Barrington Research downgraded Cars.com from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 6th. Citigroup reiterated a “buy” rating and set a $19.00 price target (down previously from $27.00) on shares of Cars.com in a research report on Tuesday, August 6th. Finally, Zacks Investment Research downgraded Cars.com from a “hold” rating to a “strong sell” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.31.

The stock has a market cap of $711.39 million, a P/E ratio of 5.30, a P/E/G ratio of 1.94 and a beta of 1.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50-day moving average price of $10.29 and a 200-day moving average price of $18.72.

Cars.com (NYSE:CARS) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.08). The business had revenue of $148.20 million for the quarter, compared to the consensus estimate of $160.18 million. Cars.com had a net margin of 1.59% and a return on equity of 6.51%. The business’s revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. Sell-side analysts forecast that Cars.com Inc. will post 1.1 earnings per share for the current fiscal year.

In other news, insider James F. Rogers bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average price of $9.99 per share, for a total transaction of $99,900.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas Alex Vetter bought 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $9.58 per share, with a total value of $105,380.00. The disclosure for this purchase can be found here. Insiders purchased a total of 58,948 shares of company stock valued at $575,784 in the last 90 days. 0.04% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in CARS. Sapience Investments LLC lifted its position in Cars.com by 134.5% in the 1st quarter. Sapience Investments LLC now owns 1,375,630 shares of the company’s stock worth $31,364,000 after buying an additional 788,980 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in Cars.com in the 2nd quarter worth approximately $9,266,000. Nuveen Asset Management LLC increased its stake in Cars.com by 18.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,696,623 shares of the company’s stock worth $33,457,000 after purchasing an additional 259,399 shares during the period. FMR LLC increased its stake in Cars.com by 26.7% in the 1st quarter. FMR LLC now owns 1,052,622 shares of the company’s stock worth $24,000,000 after purchasing an additional 222,027 shares during the period. Finally, BlackRock Inc. increased its stake in Cars.com by 2.8% in the 2nd quarter. BlackRock Inc. now owns 7,800,006 shares of the company’s stock worth $153,816,000 after purchasing an additional 213,141 shares during the period.

About Cars.com (NYSE:CARS)

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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