TrueCar (TRUE) Rating Lowered to Strong Sell at Zacks Investment Research

TrueCar (NASDAQ:TRUE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Saturday.

According to Zacks, “TrueCar Inc. engages in developing and publishing an online automotive information and communications platform. The Company operates its company-branded platform on its TrueCar.com Website. It enables users to obtain market-based pricing data on new and used cars, as well as to connect with its network of TrueCar certified dealers. TrueCar, Inc. is based in Santa Monica, California. “

Other analysts also recently issued research reports about the company. B. Riley restated a “buy” rating and issued a $21.00 target price on shares of TrueCar in a research report on Monday, October 2nd. ValuEngine downgraded TrueCar from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Morgan Stanley upgraded TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 target price for the company in a research report on Monday, October 2nd. Royal Bank of Canada dropped their target price on TrueCar from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Tuesday, November 7th. Finally, Goldman Sachs Group reiterated a “neutral” rating and issued a $17.00 price objective on shares of TrueCar in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. TrueCar has a consensus rating of “Hold” and a consensus target price of $17.50.

TrueCar (TRUE) traded down $0.01 during trading hours on Friday, reaching $11.70. The company had a trading volume of 843,240 shares, compared to its average volume of 1,550,000. The company has a market cap of $1,170.00, a P/E ratio of -33.43 and a beta of 2.70. TrueCar has a one year low of $10.16 and a one year high of $21.75. The company has a quick ratio of 6.31, a current ratio of 6.31 and a debt-to-equity ratio of 0.09.

TrueCar (NASDAQ:TRUE) last released its earnings results on Monday, November 6th. The technology company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.03). TrueCar had a negative return on equity of 10.38% and a negative net margin of 10.29%. research analysts anticipate that TrueCar will post -0.32 EPS for the current fiscal year.

In other TrueCar news, EVP Neeraj Gunsagar sold 10,443 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $11.28, for a total value of $117,797.04. Following the completion of the sale, the executive vice president now owns 254,144 shares in the company, valued at $2,866,744.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Pierantoni sold 2,494 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total value of $28,157.26. Following the completion of the sale, the senior vice president now owns 57,513 shares of the company’s stock, valued at approximately $649,321.77. The disclosure for this sale can be found here. Insiders sold 15,670 shares of company stock valued at $177,654 in the last quarter. Corporate insiders own 15.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its holdings in shares of TrueCar by 15.6% during the second quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock valued at $108,000 after acquiring an additional 734 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of TrueCar during the third quarter valued at approximately $104,000. Massey Quick Simon & CO. LLC bought a new position in shares of TrueCar during the third quarter valued at approximately $119,000. BNP Paribas Arbitrage SA raised its holdings in shares of TrueCar by 648.1% during the second quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock valued at $158,000 after acquiring an additional 6,876 shares in the last quarter. Finally, Vident Investment Advisory LLC bought a new position in shares of TrueCar during the third quarter valued at approximately $237,000. Institutional investors own 92.15% of the company’s stock.

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TrueCar Company Profile

TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.

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