TravelCenters of America (TA) Given New $11.00 Price Target at B. Riley

TravelCenters of America (NASDAQ:TA) had its target price hoisted by B. Riley from $10.00 to $11.00 in a report released on Wednesday, Marketbeat Ratings reports. The firm currently has a buy rating on the specialty retailer’s stock.

A number of other equities analysts also recently commented on the company. Zacks Investment Research upgraded TravelCenters of America from a strong sell rating to a buy rating and set a $5.50 price objective on the stock in a report on Wednesday, October 10th. Craig Hallum increased their price objective on TravelCenters of America from $6.50 to $10.00 in a report on Wednesday, September 5th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $7.63.

NASDAQ:TA traded down $0.01 during mid-day trading on Wednesday, reaching $4.45. The stock had a trading volume of 76,610 shares, compared to its average volume of 218,517. TravelCenters of America has a fifty-two week low of $3.05 and a fifty-two week high of $6.10. The company has a market capitalization of $170.21 million, a P/E ratio of -14.83 and a beta of 1.64. 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 (NASDAQ:TA) last released its quarterly earnings data on Monday, November 5th. The specialty retailer reported $0.04 EPS for the quarter, missing analysts’ consensus estimates 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 firm 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 EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts forecast that TravelCenters of America will post -0.64 earnings per share for the current fiscal year.

In related news, Director Adam D. Portnoy bought 1,492,691 shares of the firm’s stock in a transaction on Wednesday, October 10th. The stock was purchased at an average price of $5.62 per share, with a total value of $8,388,923.42. Following the completion of the transaction, the director now directly owns 143,264 shares of the company’s stock, valued at $805,143.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in TravelCenters of America by 48.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,706 shares of the specialty retailer’s stock worth $132,000 after purchasing an additional 12,290 shares during the period. Braun Bostich & Associates Inc. boosted its position in TravelCenters of America by 10.7% during the second quarter. Braun Bostich & Associates Inc. now owns 206,244 shares of the specialty retailer’s stock worth $722,000 after purchasing an additional 20,000 shares during the period. Citadel Advisors LLC boosted its position in TravelCenters of America by 300.4% during the second quarter. Citadel Advisors LLC now owns 30,349 shares of the specialty retailer’s stock worth $106,000 after purchasing an additional 22,770 shares during the period. Silverleafe Capital Partners LLC bought a new stake in TravelCenters of America during the third quarter worth approximately $143,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in TravelCenters of America during the third quarter worth approximately $148,000. 31.31% of the stock is 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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