B. Riley Trims Cars.com Inc (CARS) Target Price to $32.00

Cars.com Inc (NASDAQ:CARS) had its price objective trimmed by B. Riley from $36.00 to $32.00 in a report issued on Thursday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock. B. Riley also issued estimates for Cars.com’s Q3 2017 earnings at $0.31 EPS, Q4 2017 earnings at $0.30 EPS, Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $1.34 EPS, Q1 2018 earnings at $0.17 EPS, Q2 2018 earnings at $0.21 EPS, Q4 2018 earnings at $0.28 EPS, FY2018 earnings at $0.92 EPS, FY2019 earnings at $1.05 EPS and FY2019 earnings at $1.00 EPS.

CARS has been the topic of several other research reports. Barrington Research upped their price target on Cars.com from $40.00 to $45.00 and gave the company an outperform rating in a research note on Monday, November 6th. Craig Hallum started coverage on Cars.com in a research note on Thursday, July 20th. They issued a hold rating and a $25.00 price target on the stock.

Shares of Cars.com (NASDAQ CARS) traded up $0.33 during trading on Thursday, hitting $22.80. The stock had a trading volume of 490,939 shares, compared to its average volume of 1,470,000. Cars.com has a twelve month low of $19.90 and a twelve month high of $29.47.

Cars.com (NASDAQ:CARS) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.40. Cars.com had a return on equity of 5.13% and a net margin of 15.84%. The business had revenue of $156.62 million for the quarter, compared to analyst estimates of $157.00 million. During the same quarter in the prior year, the company posted $0.59 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in Cars.com by 129.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,620 shares of the company’s stock worth $9,964,000 after acquiring an additional 211,678 shares in the last quarter. Legal & General Group Plc lifted its stake in Cars.com by 3.2% during the 3rd quarter. Legal & General Group Plc now owns 339,851 shares of the company’s stock worth $9,046,000 after acquiring an additional 10,384 shares in the last quarter. FNY Partners Fund LP lifted its stake in Cars.com by 17.0% during the 3rd quarter. FNY Partners Fund LP now owns 23,857 shares of the company’s stock worth $634,000 after acquiring an additional 3,470 shares in the last quarter. American International Group Inc. lifted its stake in Cars.com by 2.4% during the 3rd quarter. American International Group Inc. now owns 209,501 shares of the company’s stock worth $5,575,000 after acquiring an additional 4,855 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Cars.com by 37,113.7% during the 3rd quarter. Macquarie Group Ltd. now owns 336,412 shares of the company’s stock worth $8,952,000 after acquiring an additional 335,508 shares in the last quarter.

About Cars.com

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.

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