Investec Asset Management PTY Ltd boosted its stake in Cars.com Inc. by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,211 shares of the company’s stock after acquiring an additional 2,112 shares during the period. Cars.com accounts for about 1.0% of Investec Asset Management PTY Ltd’s holdings, making the stock its 27th biggest position. Investec Asset Management PTY Ltd owned about 0.12% of Cars.com worth $1,851,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in CARS. Quantamental Technologies LLC bought a new position in shares of Cars.com in the 4th quarter worth approximately $28,000. Bessemer Group Inc. bought a new position in shares of Cars.com in the 4th quarter worth approximately $36,000. Covington Capital Management lifted its stake in shares of Cars.com by 1,267.5% in the 4th quarter. Covington Capital Management now owns 2,735 shares of the company’s stock worth $59,000 after purchasing an additional 2,535 shares during the period. Edge Wealth Management LLC bought a new position in shares of Cars.com in the 1st quarter worth approximately $69,000. Finally, First Mercantile Trust Co. bought a new position in shares of Cars.com in the 4th quarter worth approximately $88,000.
Several research firms have recently issued reports on CARS. Zacks Investment Research upgraded shares of Cars.com from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. DA Davidson set a $31.00 price objective on shares of Cars.com and gave the company a “buy” rating in a research report on Wednesday, January 16th. Craig Hallum raised shares of Cars.com from a “hold” rating to a “buy” rating and set a $25.75 target price for the company in a report on Thursday, January 17th. BTIG Research raised shares of Cars.com from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, January 22nd. Finally, ValuEngine raised shares of Cars.com from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $28.50.
Cars.com stock traded up $0.03 during trading hours on Wednesday, reaching $20.84. The stock had a trading volume of 808 shares, compared to its average volume of 1,063,415. The company has a market capitalization of $1.43 billion, a PE ratio of 11.50, a P/E/G ratio of 2.54 and a beta of 1.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.39 and a current ratio of 1.39. Cars.com Inc. has a 52 week low of $19.74 and a 52 week high of $32.94.
Cars.com last issued its quarterly earnings results on Thursday, February 28th. The company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.06). Cars.com had a return on equity of 7.78% and a net margin of 5.86%. The business had revenue of $164.35 million for the quarter, compared to analysts’ expectations of $166.49 million. On average, equities analysts predict that Cars.com Inc. will post 1.64 earnings per share for the current fiscal year.