Cars.com (NYSE:CARS) Hits New 52-Week Low - Here's Why
Shares of Cars.com (NYSE:CARS) hit a new 52-week low at $10.80, closing at $11.47 with a trading volume of 868,808 shares. Analysts have mixed views, with DA Davidson lowering its price target to $14.50 while Barrington Research maintains a $25.00 target. The stock has a market cap of $732.45 million and a consensus rating of "Moderate Buy" with a target of $20.50. Institutional investors hold 89.15% of the stock, indicating strong institutional interest despite recent price declines.
Shares of Cars.com Inc. (NYSE:CARS - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $10.80 and last traded at $11.47, with a volume of 868808 shares trading hands. The stock had previously closed at $11.27.
Wall Street Analysts Forecast Growth
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A number of research firms have recently issued reports on CARS. DA Davidson cut their price target on shares of Cars.com from $21.00 to $14.50 and set a "buy" rating on the stock in a report on Friday, February 28th. Barrington Research restated an "outperform" rating and set a $25.00 price target on shares of Cars.com in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Cars.com from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Cars.com has a consensus rating of "Moderate Buy" and a consensus price target of $20.50.
Get Our Latest Analysis on Cars.com
Cars.com Trading Up 1.8 %
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The stock has a market cap of $732.45 million, a price-to-earnings ratio of 19.78 and a beta of 2.16. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79. The company's 50 day simple moving average is $15.80 and its two-hundred day simple moving average is $16.89.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in CARS. Victory Capital Management Inc. increased its stake in Cars.com by 130.9% in the 3rd quarter. Victory Capital Management Inc. now owns 46,344 shares of the company's stock valued at $777,000 after buying an additional 26,276 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Cars.com by 145.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company's stock worth $53,000 after purchasing an additional 1,864 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Cars.com during the 3rd quarter worth $369,000. Pacer Advisors Inc. increased its stake in shares of Cars.com by 62,357.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,493,932 shares of the company's stock worth $41,798,000 after purchasing an additional 2,489,939 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Cars.com by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 804,483 shares of the company's stock worth $13,483,000 after purchasing an additional 17,501 shares during the last quarter. Institutional investors and hedge funds own 89.15% of the company's stock.
About Cars.com
(Get Free Report)- MarketBeat Week in Review – 2/26 - 3/1
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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