Investors Purchase High Volume of Put Options on DealerTrack Technologies (TRAK)
DealerTrack Technologies (NASDAQ:TRAK) saw unusually large options trading on Tuesday. Stock investors purchased 201 put options on the company, AnalystRatings.Net reports. This represents an increase of approximately 357% compared to the average volume of 44 put options.
TRAK has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of DealerTrack Technologies from $53.00 to $56.00 in a research note on Tuesday. Analysts at Macquarie upgraded shares of DealerTrack Technologies from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 20th. They now have a $60.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. DealerTrack Technologies presently has a consensus rating of “Buy” and an average target price of $57.25.
DealerTrack Technologies (NASDAQ:TRAK) traded up 18.73% on Tuesday, hitting $46.40. The stock had a trading volume of 2,731,319 shares. DealerTrack Technologies has a 52-week low of $36.43 and a 52-week high of $58.84. The stock has a 50-day moving average of $40.67 and a 200-day moving average of $45.00. The company’s market cap is $2.486 billion.
DealerTrack Technologies (NASDAQ:TRAK) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.37 by $0.04. The company had revenue of $224.80 million for the quarter, compared to the consensus estimate of $213.45 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 84.6% on a year-over-year basis. Analysts expect that DealerTrack Technologies will post $1.48 EPS for the current fiscal year.
Dealertrack Technologies, Inc (NASDAQ:TRAK), is a holding company and conducts a substantial amounts of its business through its subsidiaries.
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