Zacks Investment Research Upgrades TravelCenters of America LLC (TA) 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 research report issued to clients and investors 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 lowered TravelCenters of America from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $12.33.
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TravelCenters of America (NYSE:TA) opened at 6.90 on Wednesday. TravelCenters of America has a 12-month low of $6.41 and a 12-month high of $12.67. The company has a market capitalization of $268.08 million, a PE ratio of 150.00 and a beta of 2.92. The company has a 50 day moving average price of $6.88 and a 200-day moving average price of $7.37.
TravelCenters of America (NYSE:TA) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by $0.10. The business earned $1.45 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the company posted $0.10 earnings per share. TravelCenters of America’s quarterly revenue was down 8.7% on a year-over-year basis. On average, analysts anticipate that TravelCenters of America will post $0.07 EPS for the current year.
In other news, VP Mark R. Young sold 33,855 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $7.47, for a total transaction of $252,896.85. Following the sale, the vice president now directly owns 148,500 shares of the company’s stock, valued at approximately $1,109,295. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several hedge funds have recently added to or reduced their stakes in TA. BlackRock Institutional Trust Company N.A. raised its stake in TravelCenters of America by 293.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 104,457 shares of the company’s stock valued at $707,000 after buying an additional 77,932 shares during the period. Royce & Associates LP increased its stake in shares of TravelCenters of America by 13.5% in the first quarter. Royce & Associates LP now owns 1,844,422 shares of the company’s stock valued at $12,487,000 after buying an additional 219,000 shares in the last quarter. Adirondack Research & Management Inc. increased its stake in shares of TravelCenters of America by 32.7% in the first quarter. Adirondack Research & Management Inc. now owns 454,453 shares of the company’s stock valued at $3,077,000 after buying an additional 111,989 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in shares of TravelCenters of America by 9.5% in the first quarter. Kennedy Capital Management Inc. now owns 1,428,577 shares of the company’s stock valued at $9,671,000 after buying an additional 123,898 shares in the last quarter. Finally, Barclays PLC acquired a new stake in shares of TravelCenters of America during the first quarter valued at $516,000.
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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