Cars.com (NYSE:CARS) Sets New 12-Month Low Following Weak Earnings

Cars.com Inc. (NYSE:CARS) shares reached a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $13.77 and last traded at $13.36, with a volume of 63695 shares. The stock had previously closed at $15.30.

The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.11). Cars.com had a net margin of 5.46% and a return on equity of 9.99%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CARS. UBS Group raised their price objective on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Barrington Research restated an “outperform” rating and set a $25.00 price objective on shares of Cars.com in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, November 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CARS. Pacer Advisors Inc. grew its position in Cars.com by 62,357.6% in 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 in the last quarter. Boston Partners raised its stake in shares of Cars.com by 26.0% during the fourth quarter. Boston Partners now owns 3,178,426 shares of the company’s stock valued at $55,021,000 after acquiring an additional 655,518 shares in the last quarter. SG Capital Management LLC bought a new stake in shares of Cars.com during the fourth quarter valued at approximately $10,908,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Cars.com by 609.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 442,889 shares of the company’s stock valued at $7,675,000 after acquiring an additional 380,439 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC bought a new stake in shares of Cars.com during the fourth quarter valued at approximately $4,460,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Cars.com Stock Down 13.8 %

The company has a market cap of $854.04 million, a P/E ratio of 23.17 and a beta of 2.15. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $17.32 and its 200 day moving average is $17.46.

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.