TravelCenters of America (TA) Raised to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of TravelCenters of America (NASDAQ:TA) from a hold rating to a buy rating in a research report released on Friday morning. The firm currently has $5.00 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. “

Other equities analysts have also issued reports about the stock. Craig Hallum upped their price objective on shares of TravelCenters of America from $6.50 to $10.00 in a report on Wednesday, September 5th. B. Riley upped their price objective on shares of TravelCenters of America from $10.00 to $11.00 and gave the stock a buy rating in a report on Wednesday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $7.50.

Shares of TA stock traded down $0.17 during trading hours on Friday, hitting $4.28. The company had a trading volume of 166,680 shares, compared to its average volume of 140,239. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.67 and a current ratio of 1.89. TravelCenters of America has a fifty-two week low of $3.05 and a fifty-two week high of $6.10. The firm has a market cap of $177.37 million, a P/E ratio of -14.27 and a beta of 1.64.

TravelCenters of America (NASDAQ:TA) last issued its quarterly earnings data on Monday, November 5th. The specialty retailer reported $0.04 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.23). TravelCenters of America had a negative return on equity of 6.91% and a negative net margin of 2.03%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, research analysts predict that TravelCenters of America will post -0.42 EPS for the current fiscal year.

In other TravelCenters of America news, Director Adam D. Portnoy bought 1,492,691 shares of the business’s stock in a transaction that occurred on Wednesday, October 10th. The shares were purchased at an average cost of $5.62 per share, with a total value of $8,388,923.42. Following the purchase, the director now directly owns 143,264 shares in the company, valued at $805,143.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Thompson Siegel & Walmsley LLC purchased a new stake in TravelCenters of America during the 3rd quarter worth approximately $148,000. JPMorgan Chase & Co. increased its position in shares of TravelCenters of America by 1,587.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 357,271 shares of the specialty retailer’s stock valued at $2,036,000 after purchasing an additional 336,095 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of TravelCenters of America in the 3rd quarter valued at approximately $154,000. Acadian Asset Management LLC increased its position in shares of TravelCenters of America by 13.1% in the 3rd quarter. Acadian Asset Management LLC now owns 256,373 shares of the specialty retailer’s stock valued at $1,462,000 after purchasing an additional 29,758 shares during the last quarter. Finally, Silverleafe Capital Partners LLC purchased a new stake in shares of TravelCenters of America in the 3rd quarter valued at approximately $143,000. 31.31% of the stock is currently owned by hedge funds and other 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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