Dealertrack Technologies Rating Lowered to Neutral at Zacks (TRAK)
Dealertrack Technologies (NASDAQ:TRAK) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, ARN reports. They currently have a $46.00 target price on the stock. Zacks‘ target price would suggest a potential upside of 14.97% from the company’s current price.
Shares of Dealertrack Technologies (NASDAQ:TRAK) traded down 2.27% during mid-day trading on Tuesday, hitting $39.10. The stock had a trading volume of 168,071 shares. Dealertrack Technologies has a 1-year low of $23.31 and a 1-year high of $43.52. The stock’s 50-day moving average is $40.75 and its 200-day moving average is $35.08. The company has a market cap of $1.711 billion and a price-to-earnings ratio of 1250.31.
Dealertrack Technologies (NASDAQ:TRAK) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.05. The company had revenue of $121.80 million for the quarter, compared to the consensus estimate of $114.67 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 26.3% on a year-over-year basis.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital raised their price target on shares of Dealertrack Technologies from $38.00 to $41.00 in a research note to investors on Wednesday, August 7th. Analysts at Evercore Partners raised their price target on shares of Dealertrack Technologies from $35.00 to $44.00 in a research note to investors on Thursday, August 1st. One research analyst has rated the stock with a hold rating and one has given a buy rating to the stock. Dealertrack Technologies currently has a consensus rating of “Buy” and an average target price of $40.00.
DealerTrack Technologies, Inc, formerly DealerTrack Holdings, Inc, is a holding company. Its Web-based software solutions and services are provided for all segments of the automotive retail industry, including dealers, lenders, other equipment manufacturers (NASDAQ:TRAK), third party retailers, agents and aftermarket providers.
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