JPMorgan Chase & Co. Cuts Cars.com (NYSE:CARS) Price Target to $17.00

Cars.com (NYSE:CARS) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $21.00 to $17.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 32.76% from the stock’s current price.

Several other research firms have also recently issued reports on CARS. Barrington Research restated an “outperform” rating and set a $25.00 target price on shares of Cars.com in a research note on Monday. DA Davidson cut their target price on shares of Cars.com from $21.00 to $14.50 and set a “buy” rating for the company in a report on Friday. Finally, UBS Group raised their price target on Cars.com from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Cars.com Trading Up 6.4 %

Shares of CARS traded up $0.78 during mid-day trading on Friday, reaching $12.81. The company’s stock had a trading volume of 774,671 shares, compared to its average volume of 485,785. The company’s fifty day moving average price is $17.22 and its two-hundred day moving average price is $17.43. Cars.com has a 52 week low of $11.78 and a 52 week high of $21.24. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93. The stock has a market cap of $828.98 million, a PE ratio of 22.01 and a beta of 2.15.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CARS. Smartleaf Asset Management LLC boosted its stake in shares of Cars.com by 193.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,638 shares of the company’s stock valued at $29,000 after buying an additional 1,079 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Cars.com by 813.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,109 shares of the company’s stock worth $37,000 after acquiring an additional 1,878 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Cars.com by 145.2% in the third quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock valued at $53,000 after purchasing an additional 1,864 shares during the last quarter. Quarry LP increased its stake in Cars.com by 184.5% in the fourth quarter. Quarry LP now owns 3,476 shares of the company’s stock valued at $60,000 after purchasing an additional 2,254 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Cars.com in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 89.15% of the company’s stock.

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.