TrueCar (TRUE) Upgraded at ValuEngine

ValuEngine upgraded shares of TrueCar (NASDAQ:TRUE) from a sell rating to a hold rating in a research note published on Thursday.

Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of TrueCar from a hold rating to a buy rating and set a $14.00 price objective on the stock in a research note on Tuesday, August 14th. DA Davidson set a $13.00 price objective on shares of TrueCar and gave the company a hold rating in a research note on Monday, August 13th. Finally, Goldman Sachs Group lowered shares of TrueCar from a neutral rating to a sell rating and dropped their price objective for the company from $11.00 to $9.00 in a research note on Thursday, June 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $15.13.

NASDAQ TRUE opened at $13.57 on Thursday. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -50.26 and a beta of 2.62. TrueCar has a one year low of $8.75 and a one year high of $17.13.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Thursday, August 9th. The technology company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $87.85 million for the quarter, compared to analyst estimates of $87.81 million. TrueCar had a negative net margin of 10.07% and a negative return on equity of 8.42%. TrueCar’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 earnings per share. equities analysts anticipate that TrueCar will post -0.25 earnings per share for the current year.

In other news, CFO John Pierantoni sold 7,706 shares of the business’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $11.00, for a total transaction of $84,766.00. Following the transaction, the chief financial officer now directly owns 85,549 shares in the company, valued at $941,039. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Mcclung sold 16,968 shares of the business’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $10.95, for a total transaction of $185,799.60. Following the transaction, the executive vice president now owns 144,323 shares in the company, valued at $1,580,336.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,154 shares of company stock worth $693,118. Company insiders own 5.60% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of TrueCar during the first quarter worth about $170,000. Ontario Teachers Pension Plan Board increased its stake in shares of TrueCar by 16.7% during the first quarter. Ontario Teachers Pension Plan Board now owns 5,250,000 shares of the technology company’s stock worth $49,665,000 after acquiring an additional 750,000 shares during the period. A.R.T. Advisors LLC increased its stake in shares of TrueCar by 66.2% during the first quarter. A.R.T. Advisors LLC now owns 302,082 shares of the technology company’s stock worth $2,857,000 after acquiring an additional 120,300 shares during the period. Senvest Management LLC increased its stake in shares of TrueCar by 6.5% during the first quarter. Senvest Management LLC now owns 7,304,092 shares of the technology company’s stock worth $69,097,000 after acquiring an additional 444,300 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of TrueCar by 64.3% during the first quarter. Quantbot Technologies LP now owns 112,061 shares of the technology company’s stock worth $1,060,000 after acquiring an additional 43,860 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

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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