JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Cars.com (NYSE:CARS) Stock

Cars.com (NYSE:CARS) had its target price increased by investment analysts at JPMorgan Chase & Co. from $20.00 to $21.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 13.51% from the company’s previous close.

Several other analysts have also recently weighed in on CARS. Barrington Research reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a research note on Monday. B. Riley decreased their price target on shares of Cars.com from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, UBS Group decreased their price target on shares of Cars.com from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th.

Cars.com Price Performance

NYSE:CARS traded up $0.65 during mid-day trading on Friday, hitting $18.50. The company’s stock had a trading volume of 196,647 shares, compared to its average volume of 478,124. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 50.00 and a beta of 2.10. Cars.com has a fifty-two week low of $15.05 and a fifty-two week high of $21.24. The stock has a fifty day moving average of $16.61 and a 200-day moving average of $17.97.

Cars.com (NYSE:CARS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). The firm had revenue of $178.89 million for the quarter, compared to the consensus estimate of $181.51 million. Cars.com had a return on equity of 6.70% and a net margin of 3.51%. As a group, equities analysts forecast that Cars.com will post 1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Cars.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Cars.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 7,216,683 shares of the company’s stock valued at $123,983,000 after purchasing an additional 81,645 shares in the last quarter. Boston Partners boosted its holdings in shares of Cars.com by 25.0% during the 1st quarter. Boston Partners now owns 2,153,942 shares of the company’s stock worth $36,972,000 after buying an additional 430,654 shares during the period. American Century Companies Inc. boosted its holdings in shares of Cars.com by 19.4% during the 2nd quarter. American Century Companies Inc. now owns 1,078,757 shares of the company’s stock worth $21,252,000 after buying an additional 175,094 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Cars.com by 50.3% during the 1st quarter. Russell Investments Group Ltd. now owns 615,408 shares of the company’s stock worth $10,573,000 after buying an additional 205,871 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Cars.com by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 596,327 shares of the company’s stock worth $11,748,000 after buying an additional 20,463 shares during the period. 89.15% of the stock is currently owned by institutional investors and hedge funds.

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.