Cars.com (NYSE:CARS) Hits New 52-Week Low – Here’s What Happened

by · The Cerbat Gem

Cars.com Inc. (NYSE:CARS – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.80 and last traded at $11.47, with a volume of 868808 shares. The stock had previously closed at $11.27.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CARS. JPMorgan Chase & Co. reduced their target price 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. DA Davidson dropped their target price on shares of Cars.com from $21.00 to $14.50 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Barrington Research reissued an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Read Our Latest Stock Analysis on CARS

Cars.com Price Performance

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 company’s 50 day moving average price is $15.58 and its 200 day moving average price is $16.81. The company has a market cap of $741.39 million, a price-to-earnings ratio of 20.02 and a beta of 2.16.

Institutional Trading of Cars.com

Several hedge funds and other institutional investors have recently made changes to their positions in CARS. Victory Capital Management Inc. lifted its stake in shares of Cars.com by 130.9% in the third quarter. Victory Capital Management Inc. now owns 46,344 shares of the company’s stock valued at $777,000 after purchasing an additional 26,276 shares during the period. Advisors Asset Management Inc. raised its position in Cars.com by 145.2% during the third quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock worth $53,000 after acquiring an additional 1,864 shares during the last quarter. Intech Investment Management LLC acquired a new position in Cars.com during the third quarter worth about $369,000. Pacer Advisors Inc. raised its position in Cars.com by 62,357.6% during the third quarter. Pacer Advisors Inc. now owns 2,493,932 shares of the company’s stock worth $41,798,000 after acquiring an additional 2,489,939 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Cars.com by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 804,483 shares of the company’s stock worth $13,483,000 after acquiring 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)

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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