The stock of Cars.com Inc. (NYSE:CARS) is now priced at $8.68 and the shares are -0.49 points down or -5.34% lower compared to its previous closing price of $9.17. The stock had 993018 contracts set over the past session. CARS shares’ daily volume is compared to its average trading volume at 1.412 million shares. However, it has a float of 66.37 million and although its performance was -7.76% over the week, it’s one to watch. Analysts have given the CARS stock a yearly average price target of $10.34 per share. It means the stock’s upside potential is 19.12% with the CARS share price recently placing at $8.55 to $9.17. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are running away from the Cars.com Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CARS shares have declined. Short interest in the stock represents just 11.62% of its float, but the volume has dropped by 0.
In the last trading session, Cars.com Inc. (NYSE:CARS) dropped by -$0.73 over the week and lost -$0.09 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.55. The stock recorded its established 52-week high on 11/26/19.
Since 04/03/20, the stock has traded to a low of $3.25 at 167.08%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Cars.com Inc.’s two-week RSI is 54.89. This suggests that the stock is neutral at the moment and that CARS shares’ price movement remains stable. The stochastic readings are equally revealing at 54.22% meaning the CARS share price is currently in neutral territory.
The technical chart shows that the CARS stock will likely settle at between $9.05 and $9.42 per share. However, if the stock dips below $8.43, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.18.
Currently, the stock is trading in the red of MACD, with a reading of -0.04. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Citigroup cut their recommendation for CARS from Buy to Neutral in May 08 review. Craig Hallum analysts downgraded their recommendation of the stock from Buy to Hold in a flash note released to investors on May 07. B. Riley FBR seeing the stock struggling downgraded it from Buy to Neutral on May 05 placing it at $13 to $5.25.
The average rating for the CARS equity is 2.56 and is currently gathering a bullish momentum. Of 9 analysts tracking Cars.com Inc. polled by Reuters, 5 rated CARS as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CARS stock price is 5.61X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 70.1. Cars.com Inc. has its P/E ratio at 1.8, which means that the stock is currently trading at a discount relative to the 2.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Cars.com Inc. (NYSE:CARS) will decrease by about -99.87%, which will see them reach $137 million. The company’s full-year revenues are, however, expected to diminish by about -12.72%, down from $607 million to $530 million. CARS’s expected adjusted earnings should surge almost 18.75% to end up at $0.38 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -20.65% to record $1.23/share.