Barrington Research Reiterates “Buy” Rating for Cars.com (CARS)
Cars.com (NYSE:CARS)‘s stock had its “buy” rating restated by stock analysts at Barrington Research in a research report issued on Monday.
The analysts wrote, “We have slightly adjusted our 2019 revenue assumption to $699 million from $704 million with a $243 million estimate for adjusted EBITDA, which is consistent with our estimate prior to the release of Q3/18 results. We have an OUTPERFORM investment rating on the shares with a price target range of $40‐45.””
CARS has been the subject of a number of other research reports. Benchmark reiterated a “hold” rating on shares of Cars.com in a research note on Thursday, August 9th. Zacks Investment Research upgraded Cars.com from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, ValuEngine lowered Cars.com from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Cars.com presently has an average rating of “Hold” and a consensus price target of $37.13.
Cars.com (NYSE:CARS) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). Cars.com had a return on equity of 7.77% and a net margin of 27.69%. The business had revenue of $169.30 million during the quarter, compared to analysts’ expectations of $168.04 million. During the same quarter in the previous year, the company posted $0.48 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. Analysts expect that Cars.com will post 1.99 EPS for the current year.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Cars.com by 3.9% during the second quarter. BlackRock Inc. now owns 8,100,935 shares of the company’s stock valued at $229,984,000 after purchasing an additional 305,592 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Cars.com by 18.2% during the third quarter. Dimensional Fund Advisors LP now owns 5,341,349 shares of the company’s stock valued at $147,475,000 after purchasing an additional 822,127 shares in the last quarter. River Road Asset Management LLC grew its position in shares of Cars.com by 5.3% during the second quarter. River Road Asset Management LLC now owns 1,691,840 shares of the company’s stock valued at $48,031,000 after purchasing an additional 84,520 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Cars.com by 9.2% during the second quarter. Bank of New York Mellon Corp now owns 1,001,230 shares of the company’s stock valued at $28,426,000 after purchasing an additional 84,507 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Cars.com by 1,277.4% during the second quarter. Sei Investments Co. now owns 867,726 shares of the company’s stock valued at $24,636,000 after purchasing an additional 804,727 shares in the last quarter.
Cars.com Company Profile
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.
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