Barrington Thinks Cars’ Stock is Going to Recover

By Carrie Williams

Barrington analyst Gary Prestopino maintained a Buy rating on Cars (CARSResearch Report) today and set a price target of $16.00. The company’s shares closed last Friday at $4.89, close to its 52-week low of $3.25.

According to TipRanks.com, Prestopino is a 1-star analyst with an average return of -2.6% and a 38.8% success rate. Prestopino covers the Technology sector, focusing on stocks such as Bottomline Technologies, PowerFleet, and NIC.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cars with a $11.50 average price target.

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The company has a one-year high of $23.08 and a one-year low of $3.25. Currently, Cars has an average volume of 1.69M.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CARS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. The firm also sells online subscription advertising products to car dealerships. The company was founded by Mitch Golub, William Swislow, and Alex Vetter in 1998 and is headquartered in Chicago, IL.