TravelCenters of America LLC (TA) Upgraded by Zacks Investment Research to “Hold”
TravelCenters of America LLC (NYSE:TA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Separately, Craig Hallum downgraded shares of TravelCenters of America from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. TravelCenters of America presently has a consensus rating of “Hold” and an average target price of $12.33.
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TravelCenters of America (NYSE:TA) opened at 6.90 on Wednesday. The firm has a 50 day moving average price of $6.88 and a 200 day moving average price of $7.37. The stock has a market capitalization of $268.08 million, a P/E ratio of 150.00 and a beta of 2.92. TravelCenters of America has a 52 week low of $6.41 and a 52 week high of $12.67.
TravelCenters of America (NYSE:TA) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.10. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. The company’s revenue was down 8.7% compared to the same quarter last year. Equities research analysts predict that TravelCenters of America will post $0.07 earnings per share for the current year.
In other TravelCenters of America news, VP Mark R. Young sold 33,855 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $7.47, for a total transaction of $252,896.85. Following the transaction, the vice president now directly owns 148,500 shares of the company’s stock, valued at $1,109,295. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Institutional investors have recently bought and sold shares of the company. Foundry Partners LLC increased its position in TravelCenters of America by 24.0% in the third quarter. Foundry Partners LLC now owns 383,865 shares of the company’s stock valued at $2,748,000 after buying an additional 74,255 shares during the last quarter. Royal Bank of Canada increased its position in TravelCenters of America by 1.4% in the second quarter. Royal Bank of Canada now owns 311,050 shares of the company’s stock valued at $2,538,000 after buying an additional 4,150 shares during the last quarter. Sterneck Capital Management LLC acquired a new position in TravelCenters of America during the second quarter valued at approximately $1,145,000. Stifel Financial Corp acquired a new position in TravelCenters of America during the second quarter valued at approximately $2,082,000. Finally, Highbridge Capital Management LLC acquired a new position in TravelCenters of America during the second quarter valued at approximately $242,000.
About TravelCenters of America
TravelCenters of America LLC (TravelCenters) operates and franchises approximately 460 travel centers and convenience store locations. The Company’s segments include travel centers and convenience stores. Its customers include trucking fleets and their drivers, independent truck drivers and highway and local motorists.
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