In a report released today, Gary Prestopino from Barrington maintained a Buy rating on Cars.com, Inc. (CARS), with a price target of $37.50. The company’s shares opened today at $20.44, close to its 52-week low of $19.74.
Prestopino wrote:
“We believe the current extension is indicative of the company’s ongoing process to explore strategic alternatives through the engagement of multiple parties. We believe the extension refutes any claims from the media that the strategic alternatives process has been terminated.”
According to TipRanks.com, Prestopino is a 3-star analyst with an average return of 1.6% and a 45.9% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, Payment Data Systems Inc, and US Auto Parts Network.
Currently, the analyst consensus on Cars.com, Inc. is a Moderate Buy with an average price target of $31.80.
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The company has a one-year high of $32.94 and a one-year low of $19.74. Currently, Cars.com, Inc. has an average volume of 1.11M.
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Cars.com, Inc. engages in the provision of automotive products and services through online automotive classifieds. It offers a digital automotive marketplace search engine, which connects buyers and sellers. It also sells online subscription advertising products to car dealerships.
