TrueCar, Inc. (NASDAQ:TRUE) – Stock analysts at B. Riley cut their FY2017 EPS estimates for shares of TrueCar in a report released on Tuesday. B. Riley analyst S. Sinha now anticipates that the technology company will post earnings of ($0.33) per share for the year, down from their previous estimate of ($0.31). B. Riley currently has a “Buy” rating and a $18.00 target price on the stock. B. Riley also issued estimates for TrueCar’s Q4 2017 earnings at ($0.07) EPS, Q2 2018 earnings at ($0.05) EPS, FY2018 earnings at ($0.15) EPS and FY2019 earnings at ($0.06) EPS.
Other analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $22.00 price target on shares of TrueCar in a report on Friday, August 4th. Morgan Stanley raised TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price target for the company in a report on Monday, October 2nd. Cowen and Company reaffirmed a “hold” rating and set a $15.00 price target on shares of TrueCar in a report on Thursday, August 17th. Zacks Investment Research raised TrueCar from a “sell” rating to a “hold” rating in a report on Friday. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $17.00 target price on shares of TrueCar in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $17.44.
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Shares of TrueCar (NASDAQ TRUE) opened at $11.22 on Friday. The company has a quick ratio of 6.06, a current ratio of 6.06 and a debt-to-equity ratio of 0.10. TrueCar has a fifty-two week low of $10.16 and a fifty-two week high of $21.75.
In other TrueCar news, Director John Krafcik sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $16.50, for a total transaction of $165,000.00. Following the transaction, the director now owns 61,678 shares in the company, valued at approximately $1,017,687. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Buce sold 32,999 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $16.52, for a total value of $545,143.48. Following the transaction, the director now owns 181,558 shares in the company, valued at approximately $2,999,338.16. The disclosure for this sale can be found here. Insiders sold a total of 500,669 shares of company stock worth $8,333,936 in the last 90 days. 15.50% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in TrueCar during the 3rd quarter worth approximately $104,000. Ameritas Investment Partners Inc. increased its position in TrueCar by 15.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock worth $108,000 after purchasing an additional 734 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in TrueCar during the 3rd quarter worth approximately $119,000. BNP Paribas Arbitrage SA boosted its stake in shares of TrueCar by 648.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock worth $158,000 after acquiring an additional 6,876 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new stake in shares of TrueCar during the 2nd quarter worth approximately $179,000. Institutional investors own 92.00% of the company’s stock.
TrueCar Company Profile
TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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