TrueCar Inc. [NASDAQ: TRUE] gained 10.40% or 0.52 points to close at $5.52 with a heavy trading volume of 2713019 shares. The company report on May 25, 2021 that TrueCar Forecasts Total New Vehicle Sales up 36% for May 2021.
Incentive Spend Expected to Dip Below $3,000.
TrueCar, Inc. (NASDAQ: TRUE), the most efficient and transparent online destination to find a car, forecasts total new vehicle sales will reach 1,509,221 units in May 2021, up 36% from a year ago and even with April 2021, when adjusted for the same number of selling days. This month’s seasonally adjusted annualized rate (SAAR) for total light vehicle sales is an estimated 16.2 million, bouncing back from 12.1 million SAAR in May 2020. Excluding fleet sales, TrueCar expects U.S. retail deliveries of new cars and light trucks to be 1,379,623 units, an increase of 35% from a year ago and an increase of 2% from April 2021, when adjusted for the same number of selling days.
It opened the trading session at $5.09, the shares rose to $5.55 and dropped to $5.03, the range by which the price of stock traded the whole day. The daily chart for TRUE points out that the company has recorded 38.69% gains over the past six months. However, it is still -120.8% lower than its most recent low trading price.
If we look at the average trading volume of 988.68K shares, TRUE reached to a volume of 2713019 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about TrueCar Inc. [TRUE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TRUE shares is $6.79 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TRUE stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BTIG Research have made an estimate for TrueCar Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 02, 2021. The new note on the price target was released on February 25, 2021, representing the official price target for TrueCar Inc. stock. Previously, the target price had yet another raise to $4.25, while Goldman analysts kept a Neutral rating on TRUE stock.
The Average True Range (ATR) for TrueCar Inc. is set at 0.23, with the Price to Sales ratio for TRUE stock in the period of the last 12 months amounting to 2.07. The Price to Book ratio for the last quarter was 1.46, with the Price to Cash per share for the same quarter was set at 2.77.
Trading performance analysis for TRUE stock
TrueCar Inc. [TRUE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.45. With this latest performance, TRUE shares gained by 25.17% in over the last four-week period, additionally plugging by 38.69% over the last 6 months – not to mention a rise of 109.89% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TRUE stock in for the last two-week period is set at 73.81, with the RSI for the last a single of trading hit 82.82, and the three-weeks RSI is set at 66.97 for TrueCar Inc. [TRUE]. The present Moving Average for the last 50 days of trading for this stock 4.73, while it was recorded at 4.94 for the last single week of trading, and 4.74 for the last 200 days.
TrueCar Inc. [TRUE]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and TrueCar Inc. [TRUE] shares currently have an operating margin of -1.31 and a Gross Margin at +85.11. TrueCar Inc.’s Net Margin is presently recorded at -7.12.
Return on Total Capital for TRUE is now -0.93, given the latest momentum, and Return on Invested Capital for the company is -5.09. Return on Equity for this stock declined to -5.59, with Return on Assets sitting at -4.37. When it comes to the capital structure of this company, TrueCar Inc. [TRUE] has a Total Debt to Total Equity ratio set at 9.60. Additionally, TRUE Total Debt to Total Capital is recorded at 8.76, with Total Debt to Total Assets ending up at 7.84. Long-Term Debt to Equity for the company is recorded at 8.35, with the Long-Term Debt to Total Capital now at 7.62.
Reflecting on the efficiency of the workforce at the company, TrueCar Inc. [TRUE] managed to generate an average of -$45,607 per employee. Receivables Turnover for the company is 6.72 with a Total Asset Turnover recorded at a value of 0.61.TrueCar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.90 and a Current Ratio set at 7.90.
TrueCar Inc. [TRUE]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, TrueCar Inc. posted 0.04/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 157.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TRUE.
An analysis of insider ownership at TrueCar Inc. [TRUE]
There are presently around $519 million, or 87.00% of TRUE stock, in the hands of institutional investors. The top three institutional holders of TRUE stocks are: CALEDONIA (PRIVATE) INVESTMENTS PTY LTD with ownership of 18,626,859, which is approximately 0% of the company’s market cap and around 2.30% of the total institutional ownership; PAR CAPITAL MANAGEMENT INC, holding 9,418,804 shares of the stock with an approximate value of $51.99 million in TRUE stocks shares; and BLACKROCK INC., currently with $50.89 million in TRUE stock with ownership of nearly 8.601% of the company’s market capitalization.
Positions in TrueCar Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 63 institutional holders increased their position in TrueCar Inc. [NASDAQ:TRUE] by around 6,711,254 shares. Additionally, 47 investors decreased positions by around 3,309,532 shares, while 18 investors held positions by with 84,061,066 shares. The mentioned changes placed institutional holdings at 94,081,852 shares, according to the latest SEC report filing. TRUE stock had 15 new institutional investments in for a total of 1,287,948 shares, while 13 institutional investors sold positions of 1,258,601 shares during the same period.