Cars.com (NYSE:CARS) Shares Up 4.9% – Here’s What Happened

Cars.com Inc. (NYSE:CARS) was up 4.9% on Friday . The stock traded as high as $12.62 and last traded at $12.62. Approximately 167,784 shares changed hands during trading, a decline of 64% from the average daily volume of 469,747 shares. The stock had previously closed at $12.03.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CARS. DA Davidson decreased their target price on Cars.com from $21.00 to $14.50 and set a “buy” rating for the company in a research note on Friday. Barrington Research reissued an “outperform” rating and issued a $25.00 price objective on shares of Cars.com in a research report on Monday. JPMorgan Chase & Co. lowered their price objective on shares of Cars.com from $21.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, UBS Group upped their target price on shares of Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Cars.com Price Performance

The company has a market cap of $853.91 million, a price-to-earnings ratio of 22.74 and a beta of 2.15. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average price of $17.22 and a two-hundred day moving average price of $17.43.

Hedge Funds Weigh In On Cars.com

A number of institutional investors and hedge funds have recently bought and sold shares of CARS. FMR LLC increased its stake in shares of Cars.com by 1.7% in the third quarter. FMR LLC now owns 9,902,561 shares of the company’s stock valued at $165,967,000 after buying an additional 162,692 shares in the last quarter. Vanguard Group Inc. increased its position in Cars.com by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 7,121,007 shares of the company’s stock valued at $123,407,000 after acquiring an additional 115,083 shares in the last quarter. Boston Partners raised its stake in shares of Cars.com by 26.0% in the fourth quarter. Boston Partners now owns 3,178,426 shares of the company’s stock worth $55,021,000 after acquiring an additional 655,518 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Cars.com by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,172,706 shares of the company’s stock worth $54,984,000 after purchasing an additional 55,143 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Cars.com by 2.6% during the fourth quarter. Pacer Advisors Inc. now owns 2,559,142 shares of the company’s stock worth $44,350,000 after purchasing an additional 65,210 shares in the last quarter. Institutional investors and hedge funds own 89.15% of the company’s stock.

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.