Cars.com (NYSE:CARS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Cars.com Inc. operates an online automotive platform. The Company offers new and used vehicle listings, expert and consumer reviews, research tools and other information. It also engaged in the sale of display advertising to national advertisers. Cars.com Inc. is based in Chicago, United States. “
Several other equities research analysts also recently weighed in on CARS. Barrington Research raised their target price on shares of Cars.com from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. B. Riley lowered their target price on shares of Cars.com from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Finally, ValuEngine downgraded shares of Cars.com from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Cars.com presently has a consensus rating of “Buy” and an average price target of $35.50.
A number of institutional investors and hedge funds have recently made changes to their positions in CARS. Catalus Capital Management LLC acquired a new stake in Cars.com in the fourth quarter valued at approximately $192,402,000. Investec Asset Management LTD raised its holdings in shares of Cars.com by 300.6% in the fourth quarter. Investec Asset Management LTD now owns 3,431,613 shares of the company’s stock worth $98,968,000 after buying an additional 2,575,002 shares during the last quarter. State Street Corp purchased a new position in shares of Cars.com in the second quarter worth $68,536,000. Evercore Trust Company N.A. purchased a new position in shares of Cars.com in the third quarter worth $59,099,000. Finally, Jackson Square Partners LLC purchased a new position in shares of Cars.com in the third quarter worth $53,311,000.
ILLEGAL ACTIVITY NOTICE: This piece was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.chaffeybreeze.com/2018/02/18/zacks-investment-research-lowers-cars-com-cars-to-hold.html.
Cars.com Company Profile
Cars.com Inc owns a digital automotive marketplace business (Cars.com). Cars.com is an online research destination for car shoppers. The Company is engaged in the sale of online subscription advertising products targeting car dealerships. It offers a suite of products and services targeting the automotive needs of its buyer and seller customers.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cars.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cars.com and related companies with MarketBeat.com's FREE daily email newsletter.