TravelCenters of America Trading Up 9.2% Following Strong Earnings (TA)
TravelCenters of America (NYSE:TA)’s share price was up 9.2% during mid-day trading on Friday following a better than expected earnings announcement, American Banking News reports. The company traded as high as $10.68 and last traded at $10.63, with a volume of 1,793,914 shares. The stock had previously closed at $9.73.
The company reported $0.01 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.19) by $0.20. The company had revenue of $1.97 billion for the quarter.
A number of research firms have recently commented on TA. Analysts at Zacks upgraded shares of TravelCenters of America from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 12th. They now have a $9.60 price target on the stock. Separately, analysts at TheStreet upgraded shares of TravelCenters of America from a “hold” rating to a “buy” rating in a research note on Thursday, June 26th. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of TravelCenters of America in a research note on Wednesday, June 18th. They now have a $10.00 price target on the stock, down previously from $11.00.
The stock’s 50-day moving average is $9.09 and its 200-day moving average is $8.45. The company has a market cap of $398.8 million and a P/E ratio of 9.21.
TravelCenters of America LLC (NYSE:TA) operates and franchises travel centers primarily along the United States interstate highway system.
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