Cars.com (NYSE:CARS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, February 16th.
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. “
Other analysts also recently issued research reports about the company. B. Riley restated a “buy” rating and issued a $32.00 target price on shares of Cars.com in a research note on Tuesday, December 19th. ValuEngine upgraded Cars.com from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Barrington Research upped their target price on Cars.com from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $34.88.
Cars.com (NYSE:CARS) last announced its quarterly earnings data on Tuesday, March 6th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.16. The business had revenue of $156.57 million for the quarter, compared to analyst estimates of $156.30 million. Cars.com had a return on equity of 18.00% and a net margin of 45.64%. Cars.com’s quarterly revenue was down 3.2% compared to the same quarter last year. research analysts expect that Cars.com will post 1.09 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the business. River Road Asset Management LLC purchased a new position in shares of Cars.com in the third quarter valued at approximately $43,294,000. California State Teachers Retirement System acquired a new stake in shares of Cars.com in the second quarter valued at approximately $3,398,000. Royal Bank of Canada acquired a new stake in shares of Cars.com in the second quarter valued at approximately $4,653,000. Catalus Capital Management LLC acquired a new stake in shares of Cars.com in the fourth quarter valued at approximately $192,402,000. Finally, Skylands Capital LLC increased its holdings in shares of Cars.com by 13.2% in the third quarter. Skylands Capital LLC now owns 70,500 shares of the company’s stock valued at $1,876,000 after purchasing an additional 8,200 shares during the last quarter.
TRADEMARK VIOLATION WARNING: “Cars.com (CARS) Stock Rating Lowered by Zacks Investment Research” was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://stocknewstimes.com/2018/03/14/cars-com-cars-stock-rating-lowered-by-zacks-investment-research.html.
Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cars.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cars.com and related companies with MarketBeat.com's FREE daily email newsletter.