Cars.com (CARS) Rating Lowered to Hold at ValuEngine

Cars.com (NYSE:CARS) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Other equities research analysts have also issued research reports about the company. B. Riley reissued a “buy” rating and issued a $32.00 price objective on shares of Cars.com in a report on Tuesday, December 19th. Barrington Research lifted their price objective on Cars.com from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Finally, Zacks Investment Research lowered Cars.com from a “hold” rating to a “strong sell” rating in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $34.00.

Shares of Cars.com (NYSE CARS) traded up $0.78 on Thursday, reaching $29.98. The company had a trading volume of 850,945 shares, compared to its average volume of 930,767. Cars.com has a 52 week low of $19.90 and a 52 week high of $30.30. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.40.

A number of hedge funds have recently bought and sold shares of CARS. BlackRock Inc. purchased a new position in Cars.com during the 2nd quarter valued at about $213,818,000. Vanguard Group Inc. purchased a new position in Cars.com during the 2nd quarter valued at about $167,497,000. Artisan Partners Limited Partnership purchased a new position in Cars.com during the 2nd quarter valued at about $120,572,000. Fairpointe Capital LLC purchased a new position in Cars.com during the 2nd quarter valued at about $72,843,000. Finally, Southpoint Capital Advisors LP purchased a new position in Cars.com during the 2nd quarter valued at about $72,772,000.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by American Banking News and is the property of of American Banking News. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The correct version of this news story can be read at https://www.americanbankingnews.com/2018/01/04/cars-com-cars-rating-lowered-to-hold-at-valuengine.html.

About Cars.com

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.

Leave a Reply