TrueCar Inc (NASDAQ:TRUE) has been assigned an average rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $15.67.
Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered TrueCar from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. ValuEngine cut TrueCar from a “hold” rating to a “sell” rating in a report on Monday, August 20th. Finally, DA Davidson set a $13.00 price objective on TrueCar and gave the company a “hold” rating in a report on Monday, August 13th.
Shares of TrueCar stock traded down $0.21 during trading on Monday, hitting $11.37. 881,200 shares of the company were exchanged, compared to its average volume of 1,323,372. The firm has a market capitalization of $1.18 billion, a P/E ratio of -42.11 and a beta of 2.62. TrueCar has a 1-year low of $8.75 and a 1-year high of $16.42. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.09.
TrueCar (NASDAQ:TRUE) last posted its earnings results on Thursday, August 9th. The technology company reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. The company had revenue of $87.85 million during the quarter, compared to analyst estimates of $87.81 million. TrueCar had a negative return on equity of 8.42% and a negative net margin of 10.07%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS. Research analysts anticipate that TrueCar will post -0.25 EPS for the current fiscal year.
In other news, EVP Robert Mcclung sold 7,669 shares of TrueCar stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $13.51, for a total transaction of $103,608.19. Following the transaction, the executive vice president now owns 128,791 shares in the company, valued at approximately $1,739,966.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeff Swart sold 9,000 shares of TrueCar stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $12.00, for a total value of $108,000.00. Following the transaction, the executive vice president now owns 103,366 shares in the company, valued at approximately $1,240,392. The disclosure for this sale can be found here. Insiders have sold a total of 18,167 shares of company stock worth $229,994 in the last quarter. 5.60% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new position in shares of TrueCar during the 1st quarter valued at about $100,000. Amalgamated Bank bought a new position in shares of TrueCar during the 2nd quarter valued at about $141,000. Oppenheimer Asset Management Inc. bought a new position in shares of TrueCar during the 3rd quarter valued at about $221,000. PEAK6 Investments L.P. bought a new stake in TrueCar in the 2nd quarter valued at approximately $175,000. Finally, Public Employees Retirement Association of Colorado lifted its stake in TrueCar by 538.4% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 17,357 shares of the technology company’s stock valued at $245,000 after acquiring an additional 14,638 shares in the last quarter. Institutional investors and hedge funds own 95.55% of the company’s stock.
TrueCar Company Profile
TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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