TrueCar Inc (NASDAQ:TRUE) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $13.29.
A number of equities analysts have recently commented on the stock. SunTrust Banks assumed coverage on shares of TrueCar in a report on Monday, December 17th. They set a “hold” rating on the stock. Citigroup began coverage on shares of TrueCar in a report on Friday, December 7th. They set a “neutral” rating and a $11.50 price target on the stock. BTIG Research began coverage on shares of TrueCar in a report on Tuesday, November 13th. They issued a “buy” rating and a $13.00 target price on the stock. Zacks Investment Research lowered shares of TrueCar from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Benchmark dropped their target price on shares of TrueCar from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, November 7th.
In related news, EVP Robert Mcclung sold 7,669 shares of the business’s stock in a transaction on Tuesday, December 18th. The shares were sold at an average price of $9.63, for a total value of $73,852.47. Following the transaction, the executive vice president now owns 123,992 shares in the company, valued at $1,194,042.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders sold 9,024 shares of company stock worth $86,823. 5.60% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its stake in TrueCar by 4.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 45,626 shares of the technology company’s stock valued at $413,000 after purchasing an additional 2,089 shares in the last quarter. Voya Investment Management LLC increased its stake in TrueCar by 19.1% in the second quarter. Voya Investment Management LLC now owns 33,777 shares of the technology company’s stock valued at $341,000 after purchasing an additional 5,412 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in TrueCar by 295.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,911 shares of the technology company’s stock valued at $101,000 after purchasing an additional 5,911 shares in the last quarter. Swiss National Bank increased its stake in TrueCar by 4.9% in the third quarter. Swiss National Bank now owns 132,000 shares of the technology company’s stock valued at $1,861,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in TrueCar by 29.0% in the third quarter. Legal & General Group Plc now owns 33,327 shares of the technology company’s stock valued at $470,000 after purchasing an additional 7,502 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.
Shares of NASDAQ:TRUE traded up $0.01 during mid-day trading on Wednesday, reaching $9.91. 9,349 shares of the company’s stock were exchanged, compared to its average volume of 520,048. The firm has a market cap of $1.03 billion, a PE ratio of -36.81 and a beta of 2.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.66 and a current ratio of 5.66. TrueCar has a twelve month low of $8.03 and a twelve month high of $14.55.
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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