TrueCar Inc. (NASDAQ:TRUE)‘s stock had its “hold” rating reaffirmed by analysts at JMP Securities in a note issued to investors on Sunday.
Other equities research analysts have also issued research reports about the stock. Stephens upgraded shares of TrueCar from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 4th. Morgan Stanley lowered shares of TrueCar from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $5.00 to $6.40 in a research note on Monday, September 12th. Zacks Investment Research lowered shares of TrueCar from a “buy” rating to a “hold” rating in a research note on Thursday, October 6th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $6.00 price objective on shares of TrueCar in a research note on Friday, August 5th. Finally, Loop Capital upgraded shares of TrueCar from a “hold” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $12.00 in a research note on Friday, November 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $9.37.
TrueCar (NASDAQ:TRUE) traded down 0.40% during midday trading on Friday, hitting $12.57. 228,983 shares of the stock were exchanged. The stock’s market cap is $1074.24 billion. TrueCar has a 52 week low of $4.42 and a 52 week high of $13.07. The firm’s 50-day moving average is $10.59 and its 200 day moving average is $9.08.
TrueCar (NASDAQ:TRUE) last issued its earnings results on Thursday, November 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. The business had revenue of $75.01 million for the quarter, compared to analyst estimates of $71.17 million. TrueCar had a negative net margin of 22.92% and a negative return on equity of 22.29%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) EPS. Equities research analysts expect that TrueCar will post ($0.17) EPS for the current fiscal year.
In related news, EVP Neeraj Gunsagar sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $12.77, for a total transaction of $63,850.00. Following the completion of the sale, the executive vice president now directly owns 352,156 shares in the company, valued at $4,497,032.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Skutta sold 4,081 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $12.81, for a total transaction of $52,277.61. Following the sale, the executive vice president now owns 98,438 shares of the company’s stock, valued at $1,260,990.78. The disclosure for this sale can be found here. 17.30% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of TRUE. BlackRock Group LTD boosted its stake in shares of TrueCar by 47.0% in the first quarter. BlackRock Group LTD now owns 18,406 shares of the company’s stock worth $104,000 after buying an additional 5,884 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of TrueCar during the third quarter valued at approximately $123,000. Quantitative Investment Management LLC purchased a new stake in shares of TrueCar during the second quarter valued at approximately $134,000. State Board of Administration of Florida Retirement System increased its stake 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 period. Finally, BlackRock Advisors LLC increased its stake 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 period. Hedge funds and other institutional investors own 60.39% of the company’s stock.