TravelCenters of America (TA) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of TravelCenters of America (NASDAQ:TA) from a buy rating to a hold rating in a research note published on Wednesday morning.

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. “

Several other brokerages have also commented on TA. Craig Hallum increased their price target on shares of TravelCenters of America from $6.50 to $10.00 in a research note on Wednesday, September 5th. B. Riley increased their price target on shares of TravelCenters of America from $10.00 to $11.00 and gave the stock a buy rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $7.50.

TravelCenters of America stock traded down $0.17 during trading hours on Wednesday, hitting $4.28. The company had a trading volume of 166,680 shares, compared to its average volume of 140,239. The firm has a market cap of $177.37 million, a PE ratio of -14.27 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 has a fifty-two week low of $3.05 and a fifty-two week high of $6.10.

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

In other TravelCenters of America news, Director Adam D. Portnoy purchased 1,492,691 shares of the company’s stock in a transaction dated Wednesday, October 10th. The shares were bought at an average price of $5.62 per share, for a total transaction of $8,388,923.42. Following the purchase, the director now directly owns 143,264 shares in the company, valued at approximately $805,143.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Silverleafe Capital Partners LLC bought a new stake in TravelCenters of America in the 3rd quarter valued at $143,000. Thompson Siegel & Walmsley LLC bought a new stake in TravelCenters of America in the 3rd quarter valued at $148,000. Engineers Gate Manager LP bought a new stake in TravelCenters of America in the 3rd quarter valued at $154,000. Citadel Advisors LLC boosted its holdings in TravelCenters of America by 300.4% in the 2nd quarter. Citadel Advisors LLC now owns 30,349 shares of the specialty retailer’s stock valued at $106,000 after purchasing an additional 22,770 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in TravelCenters of America by 48.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,706 shares of the specialty retailer’s stock valued at $132,000 after purchasing an additional 12,290 shares during the period. Institutional investors and hedge funds own 31.31% of the company’s stock.

TravelCenters of America Company Profile

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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