Todays Report: Today, TrueCar’s (TRUE) “Sector Perform” Rating Reaffirm at RBC Capital Markets

Today, TrueCar’s (TRUE) “Sector Perform” Rating Reaffirm at RBC Capital Markets

TrueCar Inc. (NASDAQ:TRUE)‘s stock had its “sector perform” rating reaffirmed by equities researchers at RBC Capital Markets in a research note issued on Monday. They currently have a $12.00 price objective on the stock, up from their previous price objective of $10.00. RBC Capital Markets’ price objective points to a potential downside of 4.53% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded TrueCar from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday, August 3rd. B. Riley restated a “buy” rating and set a $14.00 price objective on shares of TrueCar in a research note on Saturday, October 29th. Loop Capital upgraded TrueCar from a “hold” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $12.00 in a research note on Friday, November 4th. Craig Hallum upgraded TrueCar from a “hold” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $14.00 in a research note on Friday, November 4th. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $6.00 price objective on shares of TrueCar in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. TrueCar currently has a consensus rating of “Buy” and a consensus price target of $9.37.

TrueCar (NASDAQ:TRUE) traded down 0.40% during midday trading on Monday, hitting $12.57. The stock had a trading volume of 200,496 shares. The company’s market capitalization is $1.07 billion. TrueCar has a 52 week low of $4.42 and a 52 week high of $13.07. The company’s 50-day moving average price is $10.59 and its 200 day moving average price is $9.08.

TrueCar (NASDAQ:TRUE) last announced its earnings results on Thursday, November 3rd. The company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.05. The company had revenue of $75.01 million for the quarter, compared to analyst estimates of $71.17 million. TrueCar had a negative return on equity of 22.29% and a negative net margin of 22.92%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. On average, analysts expect that TrueCar will post ($0.17) EPS for the current year.

In other TrueCar news, EVP Brian Skutta sold 4,081 shares of TrueCar stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $12.81, for a total transaction of $52,277.61. Following the transaction, the executive vice president now directly owns 98,438 shares of the company’s stock, valued at approximately $1,260,990.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neeraj Gunsagar sold 5,000 shares of TrueCar stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $12.77, for a total value of $63,850.00. Following the transaction, the executive vice president now directly owns 352,156 shares in the company, valued at $4,497,032.12. The disclosure for this sale can be found here. Corporate insiders own 17.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in TRUE. BlackRock Advisors LLC increased its position in shares of TrueCar by 2.4% in the second quarter. BlackRock Advisors LLC now owns 25,525 shares of the company’s stock valued at $200,000 after buying an additional 587 shares during the last quarter. BlackRock Group LTD increased its position in shares of TrueCar by 4.4% in the third quarter. BlackRock Group LTD now owns 18,933 shares of the company’s stock valued at $178,000 after buying an additional 792 shares during the last quarter. California State Teachers Retirement System increased its position in shares of TrueCar by 0.7% in the third quarter. California State Teachers Retirement System now owns 114,763 shares of the company’s stock valued at $1,083,000 after buying an additional 800 shares during the last quarter. Rhumbline Advisers increased its position in shares of TrueCar by 1.7% in the third quarter. Rhumbline Advisers now owns 51,521 shares of the company’s stock valued at $486,000 after buying an additional 840 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of TrueCar by 4.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,538 shares of the company’s stock valued at $161,000 after buying an additional 881 shares during the last quarter. 60.39% of the stock is currently owned by hedge funds and other institutional investors.

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