TrueCar Inc (TRUE) Receives Consensus Rating of “Hold” from Analysts

TrueCar Inc (NASDAQ:TRUE) has received a consensus recommendation of “Hold” from the nine analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $15.67.

A number of analysts recently commented on TRUE shares. DA Davidson set a $13.00 price objective on shares of TrueCar and gave the company a “hold” rating in a research report on Monday, August 13th. ValuEngine upgraded shares of TrueCar from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research cut shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th.

In other TrueCar news, EVP Robert Mcclung sold 7,669 shares of the 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 completion of 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 filing with the SEC, which is available through the SEC website. Also, EVP Jeff Swart sold 9,000 shares of the stock in a transaction dated Friday, August 10th. The stock was 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 of the company’s stock, valued at approximately $1,240,392. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,167 shares of company stock valued at $229,994. Corporate insiders own 5.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in TRUE. Northern Trust Corp increased its holdings in TrueCar by 1.2% during the 1st quarter. Northern Trust Corp now owns 844,356 shares of the technology company’s stock worth $7,988,000 after purchasing an additional 9,611 shares in the last quarter. BlackRock Inc. boosted its stake in shares of TrueCar by 3.5% during the 1st quarter. BlackRock Inc. now owns 4,608,786 shares of the technology company’s stock worth $43,600,000 after buying an additional 154,984 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of TrueCar by 142.6% during the 1st quarter. JPMorgan Chase & Co. now owns 285,874 shares of the technology company’s stock worth $2,704,000 after buying an additional 168,057 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of TrueCar during the 1st quarter worth about $170,000. Finally, Verition Fund Management LLC acquired a new position in shares of TrueCar during the 1st quarter worth about $100,000. Hedge funds and other institutional investors own 95.43% of the company’s stock.

Shares of TRUE traded down $0.12 during trading hours on Monday, reaching $11.58. The stock had a trading volume of 584,649 shares, compared to its average volume of 582,124. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.09. TrueCar has a 52 week low of $8.75 and a 52 week high of $16.43. The stock has a market cap of $1.16 billion, a P/E ratio of -42.89 and a beta of 2.62.

TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Thursday, August 9th. The technology company reported $0.03 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.03. TrueCar had a negative net margin of 10.07% and a negative return on equity of 8.42%. The business had revenue of $87.85 million during the quarter, compared to analysts’ expectations of $87.81 million. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts expect that TrueCar will post -0.25 earnings per share for the current fiscal year.

About TrueCar

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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Analyst Recommendations for TrueCar (NASDAQ:TRUE)

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