JPMorgan Chase & Co. Lowers Cars.com Price Target to $17.00

Investment analysts at JPMorgan Chase & Co. have revised their target price for Cars.com (NYSE:CARS) from $21.00 to $17.00, as reported in a research note released on Friday. The firm has maintained a "neutral" rating for the stock. This new price target suggests a potential upside of 32.76% compared to the stock's current trading value.

Market Reactions and Analyst Ratings

Other research firms have also provided insights on Cars.com. Barrington Research reaffirmed an "outperform" rating while setting a target price of $25.00 in a report released on Monday. Meanwhile, DA Davidson revised its target price down from $21.00 to $14.50, maintaining a "buy" rating for the company. Additionally, UBS Group increased their target for Cars.com from $17.00 to $20.00, offering a "neutral" rating in their update dated November 8th. Currently, two analysts have assigned a hold rating, while three recommend buying the stock. As per MarketBeat.com, Cars.com holds a consensus rating of "Moderate Buy" with a consensus price target placed at $20.50.

Recent Stock Performance

On Friday, shares of Cars.com experienced a trading increase of 6.4%, climbing by $0.78 to reach $12.81 during midday trading. The trading volume for the company was 774,671 shares, which is noticeably higher than the average volume of 485,785 shares. Over the past 50 days, Cars.com has had a moving average price of $17.22, and over the last 200 days, it has been $17.43. The stock has fluctuated between a 52-week low of $11.78 and a high of $21.24. Financially, Cars.com maintains a current ratio of 1.79, a quick ratio of 1.79, and a debt-to-equity ratio of 0.93. The company also has a market capitalization of approximately $828.98 million, a price-to-earnings (P/E) ratio of 22.01, and a beta of 2.15.

Institutional Investments

A number of institutional investors have recently made changes to their holdings in Cars.com. For instance, Smartleaf Asset Management LLC raised its stake by an impressive 193.0% in the fourth quarter and now owns 1,638 shares valued at about $29,000 after buying 1,079 additional shares. Furthermore, Sterling Capital Management LLC increased its holdings by 813.0%, acquiring 2,109 shares worth $37,000 after adding 1,878 shares. Advisors Asset Management Inc. and Quarry LP also reported significant increases in their stakes. Currently, institutional and hedge fund investors hold around 89.15% of Cars.com’s stock.

About Cars.com

Cars.com Inc. is a digital automotive marketplace that connects local car dealers with consumers in the United States through its various subsidiaries. The company provides a range of digital solutions designed to connect individuals who are researching or looking to purchase vehicles with car dealerships and automotive manufacturers.

Investing Insight

Before making investment decisions regarding Cars.com, potential investors should consider that while it currently holds a Moderate Buy rating among analysts, there are indications that other stocks may present better opportunities. Investors are encouraged to research and identify top-performing stocks recommended by analysts.

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