Zacks Investment Research lowered shares of TrueCar (NASDAQ:TRUE) from a hold rating to a sell rating in a research report released on Saturday, Zacks.com reports.

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. “

TRUE has been the subject of a number of other research reports. Cowen initiated coverage on TrueCar in a research report on Monday, May 20th. They set a hold rating and a $7.00 price objective for the company. SunTrust Banks reaffirmed a hold rating and set a $8.00 price objective on shares of TrueCar in a research report on Tuesday, May 14th. Goldman Sachs Group set a €137.00 ($159.30) price objective on Safran and gave the company a buy rating in a research report on Monday, March 18th. Finally, Benchmark lowered TrueCar from a buy rating to a hold rating and set a $11.00 price objective for the company. in a research report on Monday, March 25th. Three research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. TrueCar presently has a consensus rating of Hold and an average target price of $9.91.

TRUE stock opened at $5.25 on Friday. TrueCar has a twelve month low of $5.02 and a twelve month high of $14.55. The company has a current ratio of 5.09, a quick ratio of 5.09 and a debt-to-equity ratio of 0.12. The company has a market cap of $562.24 million, a price-to-earnings ratio of -20.19 and a beta of 1.57. The company’s 50 day moving average is $5.52.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. TrueCar had a negative return on equity of 7.97% and a negative net margin of 9.39%. The company had revenue of $85.60 million during the quarter, compared to analyst estimates of $84.99 million. During the same quarter last year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts predict that TrueCar will post -0.31 earnings per share for the current year.

In other TrueCar news, EVP Robert Mcclung sold 7,669 shares of TrueCar stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $5.41, for a total value of $41,489.29. Following the completion of the sale, the executive vice president now owns 121,744 shares of the company’s stock, valued at approximately $658,635.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.00% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. bought a new stake in shares of TrueCar in the fourth quarter worth $92,000. Quantamental Technologies LLC lifted its position in TrueCar by 654.8% during the first quarter. Quantamental Technologies LLC now owns 14,069 shares of the technology company’s stock valued at $93,000 after purchasing an additional 12,205 shares in the last quarter. Amalgamated Bank purchased a new position in TrueCar during the fourth quarter valued at $126,000. BNP Paribas Arbitrage SA lifted its position in TrueCar by 1,117.5% during the first quarter. BNP Paribas Arbitrage SA now owns 21,441 shares of the technology company’s stock valued at $142,000 after purchasing an additional 19,680 shares in the last quarter. Finally, NumerixS Investment Technologies Inc purchased a new position in TrueCar during the first quarter valued at $156,000. 94.98% of the stock is owned by institutional investors and hedge funds.

TrueCar Company Profile

TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.

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