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

Cars.com Inc. (NYSE:CARS)’s share price rose 4.9% during mid-day trading on Friday . The stock traded as high as $12.62 and last traded at $12.62. Approximately 167,784 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 469,747 shares. The stock had previously closed at $12.03.

Analyst Upgrades and Downgrades

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

Cars.com Trading Up 9.6 %

The company has a market capitalization of $853.91 million, a P/E ratio of 22.74 and a beta of 2.15. The business has a 50 day moving average price of $17.22 and a 200 day moving average price of $17.43. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93.

Institutional Investors Weigh In On Cars.com

Large investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Cars.com in the 3rd quarter valued at $191,000. Harbor Capital Advisors Inc. grew its stake in Cars.com by 18.8% in the third quarter. Harbor Capital Advisors Inc. now owns 12,909 shares of the company’s stock valued at $216,000 after acquiring an additional 2,047 shares during the period. Assetmark Inc. increased its holdings in shares of Cars.com by 11.2% in the third quarter. Assetmark Inc. now owns 54,410 shares of the company’s stock worth $912,000 after acquiring an additional 5,461 shares in the last quarter. Versor Investments LP bought a new stake in Cars.com during the 3rd quarter worth approximately $456,000. Finally, GSA Capital Partners LLP bought a new stake in Cars.com during the 3rd quarter worth approximately $1,222,000. Institutional investors 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.