Cars com Inc (CARS) Receives a Buy from Barrington
In a report released yesterday, Gary Prestopino from Barrington maintained a Buy rating on Cars com Inc (CARS). The company’s shares closed yesterday at $25.01.
“We postulate that most of the pieces are now in place for Cars.com to resume steady growth with margin expansion in 2019/2020 for the long‐term enhancement of shareholder value.”
According to TipRanks.com, Prestopino is a 1-star analyst with an average return of -0.9% and a 44.2% 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 Strong Buy with an average price target of $31.25.
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Based on Cars com Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $15.8 million. In comparison, last year the company had a net profit of $152 million.
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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.