The Vanguard Group, Inc. has recently announced that it has increased stake in Cars.com Inc. (NYSE:CARS) by 0.93%. After grabbing 7.04 million shares, the institutional investor is now in possession of 65148.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 10.57% having worth around $104.06 million. Moreover, Fidelity Management & Research Co increased its share by 1.38 million to have a control over 4.93 million shares. And SVB Wealth LLC raised its holdings to 1264.0 shares by acquiring 2.5 million shares or 3.76% of the stake.
Cars.com Inc. (CARS) concluded trading on 01/12/23 at a closing price of $15.42, with 0.37 million shares of worth about $5.68 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 59.63% during that period and on Thursday the price saw a gain of about 5.54%. Currently the company’s common shares owned by public are about 67.68M shares, out of which, 61.30M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the CARS stock and their offered price forecasts bring an average price target of $18.75. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $25.00 and could fall to a lowest price of $12.00. The stock’s current price level is 18.54% above of average price target set by the analysts, while a rise to estimated low would result in loss of -28.5% for the stock. However, touching the estimated high of $25.00 would mean a gain of 38.32% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 34 times over the past 12 months. They bought 627,387 shares in 20 of the transactions. In 14 selling transactions, insiders dumped 194,941 shares.
iShares Core S&P Small Cap ETF, Border to Coast Global Equity Alp, and MFS Meridian Funds – Prudent Weal are the top 3 mutual funds which are holding stakes in Cars.com Inc. iShares Core S&P Small Cap ETF is currently holding 4.73 million shares of worth totaling $69.87 million. The company recently came buying 1788.0 shares which brought its stake up to 7.10% of the company’s outstanding shares. Border to Coast Global Equity Alp sold 37202.0 shares, after which its hold over company’s outstanding shares shrunk to 5.77%, leaving 3.84 million shares with the mutual fund that have a worth of about $56.82 million. MFS Meridian Funds – Prudent Weal, after buying 2.18 million shares, have now control over 3.28% of the stake in the company. It holds 0.0 shares of worth $32.25 million.
Cars.com Inc. (NYSE: CARS) started trading at $14.67, above $0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 15.45, or with a gain of 5.54%. Stock saw a price change of 9.13% in past 5 days and over the past one month there was a price change of 13.63%. Year-to-date (YTD), CARS shares are showing a performance of 11.98% which decreased to -3.81% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $8.75 but also hit the highest price of $16.98 during that period. The average intraday trading volume for Cars.com Inc. shares is 438.02K. The stock is currently trading 12.20% above its 20-day simple moving average (SMA20), while that difference is up 9.53% for SMA50 and it goes to 26.52% higher than SMA200.
The Vanguard Group, Inc. acquired 7.04 million shares of Cars.com Inc. having value of about $104.06 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 65148.0 shares in the company valued at close to $1004582.16, or have control over 0.93% stake in the company. Cars.com Inc. (NYSE: CARS) currently have 67.68M outstanding shares and institutions hold larger chunk of about 98.60% of that. Holding of mutual funds in the company is about 36.12% while other institutional holders and individual stake holders have control over 64.69% and 3.91% of the stake respectively.
The stock has a current market capitalization of $998.91M and its 3Y-monthly beta is at 1.93. PE ratio of stock for trailing 12 months is 1401.82, while it has posted earnings per share of $0.01 in the same period. Its PEG reads 71.52 and has Quick Ratio of 1.50 while making debt-to-equity ratio of 1.32. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CARS, volatility over the week remained 4.35% while standing at 3.78% over the month.
Analysts are in expectations that Cars.com Inc. (CARS) stock would likely to be making an EPS of $0.24 in the current quarter, while forecast for next quarter EPS is $0.26 and it is $1.03 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.08 which is $0.5 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.43 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 100.90% while it is estimated to increase by 137.72% in next year. EPS is likely to grow at an annualized rate of 19.60% for next 5-years, compared to annual growth of -46.50% made by the stock over the past 5-years.
Analysts at 6 brokerage firms have issued recommendations for the Cars.com Inc. (CARS)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 6 Wall Street analysts, 5 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BTIG Research on June 21, 2022 offering a Buy rating for the stock and assigned a target price range of between $19 and $16 to it. On August 27, 2021, Truist Initiated their recommendations, while on March 01, 2021, The Benchmark Company Upgrade their ratings for the stock with a price target of $18. Stock get a Buy rating from Craig Hallum on October 15, 2020.