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

TRUE has been the topic of a number of other reports. 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. Goldman Sachs Group downgraded shares of TrueCar from a neutral rating to a sell rating and lowered their target price for the company from $11.00 to $9.00 in a report on Thursday, June 7th. Finally, DA Davidson set a $13.00 target price on shares of TrueCar and gave the company a hold rating in a report on Monday, August 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $15.13.

NASDAQ:TRUE traded up $0.08 during midday trading on Thursday, hitting $13.65. 2,395 shares of the company were exchanged, compared to its average volume of 605,331. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.38 and a quick ratio of 6.38. The firm has a market capitalization of $1.36 billion, a P/E ratio of -50.50 and a beta of 2.62. TrueCar has a fifty-two week low of $8.75 and a fifty-two week 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. sell-side analysts anticipate that TrueCar will post -0.25 EPS for the current year.

In other news, EVP Neeraj Gunsagar sold 26,335 shares of TrueCar stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $11.00, for a total value of $289,685.00. Following the sale, the executive vice president now owns 207,327 shares of the company’s stock, valued at $2,280,597. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO John Pierantoni sold 7,706 shares of TrueCar 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 completion of the sale, the chief financial officer now directly owns 85,549 shares in the company, valued at approximately $941,039. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,154 shares of company stock worth $693,118. Insiders own 5.60% of the company’s stock.

Large investors have recently modified their holdings of the company. Verition Fund Management LLC purchased a new stake in TrueCar during the first quarter worth about $100,000. Amalgamated Bank purchased a new stake in TrueCar during the second quarter worth about $141,000. PEAK6 Investments L.P. purchased a new stake in TrueCar during the second quarter worth about $175,000. Jane Street Group LLC purchased a new stake in TrueCar during the first quarter worth about $170,000. Finally, Sciencast Management LP purchased a new stake in shares of TrueCar in the first quarter valued at about $273,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for TrueCar (NASDAQ:TRUE)

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