Royal Bank Of Canada Cuts TrueCar, Inc. (TRUE) Price Target to $18.00
TrueCar, Inc. (NASDAQ:TRUE) had its price objective lowered by Royal Bank Of Canada to $18.00 in a research note issued to investors on Tuesday. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 10.16% from the company’s current price.
Other analysts have also issued research reports about the stock. B. Riley reaffirmed a “buy” rating and set a $21.00 price target on shares of TrueCar in a research report on Monday, August 14th. Cowen and Company reaffirmed a “hold” rating and set a $15.00 price target on shares of TrueCar in a research report on Thursday, August 17th. Morgan Stanley raised shares of TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price target on the stock in a research report on Monday, October 2nd. Zacks Investment Research lowered shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $17.00 price target on shares of TrueCar in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $17.78.
Shares of TrueCar (TRUE) opened at $16.34 on Tuesday. The company has a current ratio of 6.06, a quick ratio of 6.06 and a debt-to-equity ratio of 0.10. TrueCar has a 12-month low of $10.37 and a 12-month high of $21.75.
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In related news, Director Robert Buce sold 32,999 shares of TrueCar stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $16.52, for a total value of $545,143.48. Following the completion of the sale, the director now owns 181,558 shares in the company, valued at approximately $2,999,338.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Neeraj Gunsagar sold 1,882 shares of TrueCar stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $15.22, for a total transaction of $28,644.04. The disclosure for this sale can be found here. Insiders sold a total of 500,669 shares of company stock valued at $8,333,936 in the last quarter. 15.50% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of TRUE. Ameriprise Financial Inc. grew its stake in shares of TrueCar by 6.6% in the first quarter. Ameriprise Financial Inc. now owns 112,937 shares of the technology company’s stock worth $1,747,000 after acquiring an additional 7,011 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of TrueCar by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 78,478 shares of the technology company’s stock worth $1,214,000 after acquiring an additional 24,374 shares in the last quarter. American International Group Inc. grew its stake in shares of TrueCar by 7.1% in the first quarter. American International Group Inc. now owns 33,469 shares of the technology company’s stock worth $518,000 after acquiring an additional 2,215 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of TrueCar by 17.8% in the first quarter. Alliancebernstein L.P. now owns 79,370 shares of the technology company’s stock worth $1,228,000 after acquiring an additional 12,000 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of TrueCar by 2.1% in the first quarter. Teachers Advisors LLC now owns 94,754 shares of the technology company’s stock worth $1,466,000 after acquiring an additional 1,932 shares in the last quarter. Institutional investors and hedge funds own 92.00% of the company’s stock.
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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