Cars.com Inc (CARS) Trading Down 0%
Cars.com Inc (NASDAQ:CARS) dropped 0% during mid-day trading on Tuesday . The company traded as low as $22.98 and last traded at $22.99. Approximately 4,811,562 shares were traded during mid-day trading, an increase of 322% from the average daily volume of 1,140,000 shares. The stock had previously closed at $22.99.
CARS has been the topic of a number of recent analyst reports. Craig Hallum initiated coverage on Cars.com in a research report on Thursday, July 20th. They issued a “hold” rating and a $25.00 price objective on the stock. Barrington Research increased their price objective on Cars.com from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, B. Riley initiated coverage on Cars.com in a research report on Monday, October 2nd. They issued a “buy” rating and a $36.00 price objective on the stock.
Cars.com (NASDAQ:CARS) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.40. Cars.com had a return on equity of 5.13% and a net margin of 15.84%. The business had revenue of $156.62 million for the quarter, compared to the consensus estimate of $157.00 million. During the same quarter last year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its position in Cars.com by 1.1% during the third quarter. Ameriprise Financial Inc. now owns 225,089 shares of the company’s stock valued at $5,989,000 after purchasing an additional 2,339 shares in the last quarter. Russell Investments Group Ltd. raised its position in Cars.com by 48.9% during the third quarter. Russell Investments Group Ltd. now owns 267,606 shares of the company’s stock valued at $7,120,000 after purchasing an additional 87,925 shares in the last quarter. Comerica Bank purchased a new stake in Cars.com during the third quarter valued at about $1,334,000. Sei Investments Co. raised its position in Cars.com by 488.2% during the third quarter. Sei Investments Co. now owns 494,187 shares of the company’s stock valued at $13,150,000 after purchasing an additional 410,171 shares in the last quarter. Finally, River Road Asset Management LLC purchased a new stake in Cars.com during the third quarter valued at about $43,294,000.
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.
Receive News & Stock Ratings for Cars.com Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cars.com Inc and related stocks with our FREE daily email newsletter.