TravelCenters of America (TA) Price Target Raised to $11.00

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TravelCenters of America (NASDAQ:TA) had its price target boosted by B. Riley from $10.00 to $11.00 in a report issued on Wednesday morning, MarketBeat Ratings reports. B. Riley currently has a buy rating on the specialty retailer’s stock. B. Riley also issued estimates for TravelCenters of America’s Q1 2019 earnings at ($0.35) EPS, Q2 2019 earnings at $0.33 EPS, Q3 2019 earnings at $0.07 EPS, Q4 2019 earnings at $0.03 EPS, FY2019 earnings at $0.08 EPS and FY2020 earnings at $0.30 EPS.

Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded TravelCenters of America from a strong sell rating to a hold rating in a research report on Tuesday, July 10th. Craig Hallum lifted their price objective on TravelCenters of America from $6.50 to $10.00 in a research report on Wednesday, September 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $7.50.

Shares of TA stock traded down $0.17 during midday trading on Wednesday, reaching $4.28. 166,680 shares of the company traded hands, compared to its average volume of 140,239. TravelCenters of America has a 1-year low of $3.05 and a 1-year high of $6.10. The company has a current ratio of 1.89, a quick ratio of 0.67 and a debt-to-equity ratio of 1.49. The company has a market cap of $177.37 million, a price-to-earnings ratio of -14.27 and a beta of 1.64.

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

In related news, Director Adam D. Portnoy acquired 1,492,691 shares of the business’s stock in a transaction that occurred on Wednesday, October 10th. The stock was purchased at an average cost of $5.62 per share, for a total transaction of $8,388,923.42. Following the transaction, the director now directly owns 143,264 shares of the company’s stock, valued at approximately $805,143.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC grew its stake in TravelCenters of America by 12.3% in the 2nd quarter. Nantahala Capital Management LLC now owns 759,401 shares of the specialty retailer’s stock worth $2,658,000 after acquiring an additional 83,274 shares during the period. B. Riley Financial Inc. purchased a new stake in shares of TravelCenters of America during the 2nd quarter valued at $420,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of TravelCenters of America by 48.4% during 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 buying an additional 12,290 shares during the period. Silverleafe Capital Partners LLC purchased a new stake in shares of TravelCenters of America during the 3rd quarter valued at $143,000. Finally, Jane Street Group LLC purchased a new stake in shares of TravelCenters of America during the 2nd quarter valued at $369,000. 31.31% of the stock is owned by hedge funds and other institutional investors.

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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