TravelCenters of America (NASDAQ:TA) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of TravelCenters of America (NASDAQ:TA) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

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. “

A number of other research analysts have also recently commented on the company. CIBC cut TravelCenters of America to a neutral rating and set a $9.50 price target on the stock. in a research report on Tuesday, July 21st. B. Riley dropped their price objective on TravelCenters of America from $35.00 to $33.00 and set a buy rating on the stock in a report on Wednesday, May 6th.

Shares of NASDAQ TA opened at $13.98 on Wednesday. TravelCenters of America has a one year low of $5.51 and a one year high of $23.26. The company has a debt-to-equity ratio of 3.95, a current ratio of 1.05 and a quick ratio of 0.60. The business’s fifty day moving average price is $16.00 and its 200-day moving average price is $13.47. The stock has a market capitalization of $117.72 million, a PE ratio of 4.06 and a beta of 1.96.

TravelCenters of America (NASDAQ:TA) last issued its quarterly earnings results on Tuesday, May 5th. The specialty retailer reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($1.13). TravelCenters of America had a net margin of 0.46% and a negative return on equity of 3.52%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.40 billion. As a group, equities analysts expect that TravelCenters of America will post -0.04 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its holdings in TravelCenters of America by 37.4% during the 1st quarter. Wells Fargo & Company MN now owns 11,501 shares of the specialty retailer’s stock worth $113,000 after purchasing an additional 3,132 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of TravelCenters of America by 51.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,342 shares of the specialty retailer’s stock valued at $366,000 after acquiring an additional 7,238 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of TravelCenters of America by 7.9% in the 1st quarter. Acadian Asset Management LLC now owns 113,133 shares of the specialty retailer’s stock valued at $1,105,000 after acquiring an additional 8,323 shares in the last quarter. Braun Bostich & Associates Inc. raised its holdings in shares of TravelCenters of America by 17.5% in the 1st quarter. Braun Bostich & Associates Inc. now owns 62,057 shares of the specialty retailer’s stock valued at $565,000 after acquiring an additional 9,231 shares in the last quarter. Finally, Marquette Asset Management LLC purchased a new stake in shares of TravelCenters of America in the 1st quarter valued at about $92,000. 33.94% of the stock is currently owned by institutional investors and hedge funds.

TravelCenters of America Company Profile

TravelCenters of America LLC operates travel centers and standalone restaurants in the United States and Canada. Its travel centers offer a range of products and services, including diesel fuel and gasoline, as well as nonfuel products and services, such as parking, truck repair and maintenance services, full service restaurants, quick service restaurants, and various customer amenities.

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