Cars.com Inc. (NYSE:CARS) Stake Trimmed by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in Cars.com Inc. (NYSE:CARS) by 73.7% during the first quarter, HoldingsChannel reports. The firm owned 23,610 shares of the company’s stock after selling 66,023 shares during the period. Federated Hermes Inc.’s holdings in Cars.com were worth $266,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Mackenzie Financial Corp increased its stake in Cars.com by 59.2% in the 1st quarter. Mackenzie Financial Corp now owns 54,798 shares of the company’s stock worth $618,000 after purchasing an additional 20,376 shares in the last quarter. LPL Financial LLC increased its stake in Cars.com by 109.7% in the 1st quarter. LPL Financial LLC now owns 412,282 shares of the company’s stock worth $4,646,000 after purchasing an additional 215,651 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cars.com by 19.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,787 shares of the company’s stock worth $200,000 after purchasing an additional 2,922 shares in the last quarter. Cetera Investment Advisers purchased a new position in Cars.com in the 1st quarter worth about $368,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Cars.com during the 1st quarter valued at about $362,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Cars.com Stock Up 5.2%

CARS opened at $12.39 on Friday. The business has a 50 day moving average price of $11.92 and a 200 day moving average price of $12.57. Cars.com Inc. has a twelve month low of $9.56 and a twelve month high of $20.47. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.65 and a current ratio of 1.82. The firm has a market cap of $786.82 million, a P/E ratio of 19.98 and a beta of 1.76.

Cars.com (NYSE:CARS) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The business had revenue of $178.74 million during the quarter, compared to the consensus estimate of $179.43 million. Cars.com had a return on equity of 17.43% and a net margin of 5.71%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. Research analysts forecast that Cars.com Inc. will post 1.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CARS. B. Riley lifted their target price on Cars.com from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. raised Cars.com from a “neutral” rating to an “overweight” rating and set a $14.00 target price on the stock in a research note on Thursday, July 17th. UBS Group lowered their target price on Cars.com from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Wall Street Zen raised Cars.com from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.30.

Cars.com 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.