Zacks Investment Research upgraded shares of TravelCenters of America (NASDAQ:TA) from a strong sell rating to a buy rating in a research report released on Wednesday. The firm currently has $5.50 target price on the specialty retailer’s stock.
According to Zacks, “TRAVELCENTERS OF AMERICA, LLC. is a full-service national travel center chain in the U.S., with nationwide locations serving hundreds of thousands of professional drivers and other highway travelers each month – including virtually all major trucking fleets. Their travel centers operate under the TravelCenters of America, TA and Petro brand names and offer diesel and gasoline fueling services, restaurants, heavy truck repair facilities, stores and other services. “
A number of other research analysts also recently commented on TA. Craig Hallum initiated coverage on TravelCenters of America in a research note on Monday, July 16th. They set a buy rating and a $6.50 price objective for the company. B. Riley upped their price objective on TravelCenters of America to $10.00 and gave the stock a buy rating in a research note on Wednesday, September 5th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. TravelCenters of America presently has a consensus rating of Buy and an average target price of $7.38.
TA traded up $0.58 during trading on Wednesday, reaching $5.00. 382,956 shares of the company were exchanged, compared to its average volume of 228,195. The company has a market cap of $226.70 million, a P/E ratio of -16.67 and a beta of 1.53. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.22 and a quick ratio of 0.67. TravelCenters of America has a 52 week low of $3.05 and a 52 week high of $6.10.
TravelCenters of America (NASDAQ:TA) last issued its quarterly earnings data on Monday, August 6th. The specialty retailer reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.26). The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.86 billion. TravelCenters of America had a negative return on equity of 6.19% and a negative net margin of 0.04%. TravelCenters of America’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) earnings per share. As a group, research analysts anticipate that TravelCenters of America will post -0.64 earnings per share for the current year.
In other TravelCenters of America news, Director Adam D. Portnoy purchased 1,492,691 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The stock was bought at an average price of $5.62 per share, with a total value of $8,388,923.42. Following the completion of the purchase, the director now owns 143,264 shares in the company, valued at approximately $805,143.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.80% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Silverleafe Capital Partners LLC bought a new position in shares of TravelCenters of America in the third quarter worth $143,000. B. Riley Financial Inc. bought a new position in shares of TravelCenters of America in the second quarter worth $420,000. Jane Street Group LLC bought a new position in shares of TravelCenters of America in the second quarter worth $369,000. Nantahala Capital Management LLC grew its stake in shares of TravelCenters of America by 12.3% in the second quarter. Nantahala Capital Management LLC now owns 759,401 shares of the specialty retailer’s stock worth $2,658,000 after purchasing an additional 83,274 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of TravelCenters of America by 8.3% in the second quarter. Renaissance Technologies LLC now owns 1,745,000 shares of the specialty retailer’s stock worth $6,108,000 after purchasing an additional 133,700 shares in the last quarter. 31.35% of the stock is owned by institutional investors.
About TravelCenters of America
TravelCenters of America LLC operates travel centers and convenience stores in the United States and Canada. It operates in two segments, Travel Centers and Convenience Stores. Its travel centers offer a range of products and services, including diesel fuel and gasoline, as well as nonfuel products and services, such as truck repair and maintenance services, full service restaurants, quick service restaurants (QSR), and various customer amenities.
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