JPMorgan Chase & Co. Cuts Cars.com (NYSE:CARS) Price Target to $14.00

Cars.com (NYSE:CARS) had its price objective reduced by JPMorgan Chase & Co. from $17.00 to $14.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Cars.com in a report on Tuesday, March 4th. DA Davidson cut 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, February 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.90.

Cars.com Stock Down 3.9 %

Shares of CARS opened at $11.30 on Thursday. The company has a market capitalization of $721.41 million, a price-to-earnings ratio of 19.48 and a beta of 2.16. Cars.com has a 52 week low of $10.80 and a 52 week high of $21.24. The stock’s 50-day moving average price is $14.93 and its 200-day moving average price is $16.58. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its position in Cars.com by 193.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company’s stock worth $29,000 after purchasing an additional 1,079 shares during the period. Sterling Capital Management LLC raised its position in Cars.com by 813.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,109 shares of the company’s stock worth $37,000 after acquiring an additional 1,878 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Cars.com by 145.2% in the third quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock valued at $53,000 after acquiring an additional 1,864 shares during the period. Quarry LP boosted its position in shares of Cars.com by 184.5% during the 4th quarter. Quarry LP now owns 3,476 shares of the company’s stock worth $60,000 after purchasing an additional 2,254 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Cars.com during the 4th quarter worth $61,000. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

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.