Cars.com Inc. (NYSE:CARS – Get Rating)’s stock price dropped 2.4% during trading on Friday . The stock traded as low as $18.07 and last traded at $18.53. Approximately 128,741 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 376,016 shares. The stock had previously closed at $18.99.
Analysts Set New Price Targets
CARS has been the topic of several analyst reports. BTIG Research raised their price target on shares of Cars.com from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, February 24th. Craig Hallum raised their price target on shares of Cars.com from $17.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, February 24th. Finally, DA Davidson raised their price target on shares of Cars.com from $17.50 to $23.25 and gave the company a “buy” rating in a research note on Friday, February 24th.
Cars.com Stock Down 2.2 %
The firm’s fifty day moving average price is $16.27 and its 200-day moving average price is $14.20. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market capitalization of $1.23 billion, a P/E ratio of 74.28 and a beta of 1.93.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Cars.com by 0.9% in the third quarter. Vanguard Group Inc. now owns 7,214,841 shares of the company’s stock valued at $82,971,000 after acquiring an additional 61,764 shares in the last quarter. FMR LLC boosted its holdings in Cars.com by 8.7% during the second quarter. FMR LLC now owns 4,283,964 shares of the company’s stock worth $40,398,000 after buying an additional 343,392 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Cars.com by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 3,505,811 shares of the company’s stock worth $50,591,000 after buying an additional 45,753 shares in the last quarter. State Street Corp boosted its holdings in Cars.com by 2.3% during the second quarter. State Street Corp now owns 2,372,414 shares of the company’s stock worth $22,372,000 after buying an additional 53,295 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Cars.com by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,181,240 shares of the company’s stock worth $16,265,000 after buying an additional 20,826 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.
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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