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

Cars.com (NYSE:CARS) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $21.00 to $17.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 28.89% from the stock’s current price.

Several other research firms have also weighed in on CARS. UBS Group lifted their price target on Cars.com from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. 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 report on Friday. Finally, Barrington Research reiterated an “outperform” rating and issued a $25.00 price target on shares of Cars.com in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.50.

Cars.com Stock Performance

Cars.com stock opened at $13.19 on Friday. Cars.com has a fifty-two week low of $11.78 and a fifty-two week high of $21.24. The stock’s 50 day simple moving average is $17.13 and its two-hundred day simple moving average is $17.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market cap of $853.91 million, a price-to-earnings ratio of 22.74 and a beta of 2.15.

Institutional Investors Weigh In On Cars.com

Hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp bought a new position in shares of Cars.com during the fourth quarter valued at $597,000. PharVision Advisers LLC bought a new position in Cars.com in the 4th quarter worth about $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cars.com by 23.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 202,690 shares of the company’s stock valued at $3,513,000 after purchasing an additional 38,421 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Cars.com during the 4th quarter valued at about $1,105,000. Finally, iSAM Funds UK Ltd purchased a new position in Cars.com in the fourth quarter worth about $181,000. 89.15% of the stock is 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.