DealerTrack Technologies Inc(NASDAQ:TRAK) Announces Plans for New Corporate Headquarters

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DealerTrack Technologies Inc(NASDAQ:TRAK) announces plans for new corporate headquarters Dealertrack Technologies announced plans to maintain its corporate headquarters on Long Island and has signed a lease to move into a newly constructed 233,000 square foot corporate office building in the nearby Village of North Hills in early 2016.

The new environmentally-friendly, LEED-certified building planned for 3400 New Hyde Park Road is approximately one mile from Dealertrack’s current headquarters. Dealertrack expects to benefit from financial incentives being provided by the State of New York and Nassau County.

Analysts have a consensus price target of $53.98 on DealerTrack Technologies Inc(NASDAQ:TRAK) which indicates a 18% upside. The consensus rating of the stock is a BUY with a score of 2.67. There are currently 4 Hold Ratings and 4 Buy ratings on the stock.

A recent analyst action consisted of Evercore Partners initiated coverage with an Overweight rating and a $66 price target on March 10th, 2014.

 

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