TravelCenters of America (NASDAQ:TA) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of TravelCenters of America (NASDAQ:TA) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $47.00 price objective on the specialty retailer’s stock.

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. “

Several other equities research analysts have also commented on the stock. B. Riley boosted their target price on shares of TravelCenters of America from $40.00 to $48.00 and gave the stock a buy rating in a research report on Wednesday, August 4th. BMO Capital Markets upgraded shares of TravelCenters of America from a market perform rating to an outperform rating and boosted their price objective for the stock from $12.00 to $14.50 in a research report on Tuesday, June 1st. Finally, BTIG Research boosted their price objective on shares of TravelCenters of America from $45.00 to $76.00 and gave the stock a buy rating in a research report on Thursday, August 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, TravelCenters of America presently has a consensus rating of Buy and a consensus price target of $38.36.

Shares of TravelCenters of America stock opened at $41.51 on Tuesday. TravelCenters of America has a 52-week low of $17.46 and a 52-week high of $43.27. The company has a 50 day moving average of $35.88 and a 200 day moving average of $30.50. The company has a quick ratio of 1.39, a current ratio of 1.69 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $605.22 million, a P/E ratio of 22.93 and a beta of 2.22.

TravelCenters of America (NASDAQ:TA) last issued its quarterly earnings results on Sunday, August 1st. The specialty retailer reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $2.21. TravelCenters of America had a net margin of 0.44% and a return on equity of 4.46%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.93 billion. As a group, research analysts anticipate that TravelCenters of America will post 2.12 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strategic Financial Services Inc increased its position in TravelCenters of America by 46.0% in the first quarter. Strategic Financial Services Inc now owns 12,700 shares of the specialty retailer’s stock worth $345,000 after buying an additional 4,000 shares during the period. Keybank National Association OH boosted its stake in TravelCenters of America by 13.8% during the first quarter. Keybank National Association OH now owns 23,629 shares of the specialty retailer’s stock valued at $641,000 after buying an additional 2,864 shares in the last quarter. BlackRock Inc. boosted its position in shares of TravelCenters of America by 20.7% in the 1st quarter. BlackRock Inc. now owns 323,147 shares of the specialty retailer’s stock valued at $8,767,000 after purchasing an additional 55,476 shares during the period. TBH Global Asset Management LLC acquired a new position in shares of TravelCenters of America in the 1st quarter valued at $358,000. Finally, GSA Capital Partners LLP boosted its position in shares of TravelCenters of America by 16.0% in the 1st quarter. GSA Capital Partners LLP now owns 25,330 shares of the specialty retailer’s stock valued at $687,000 after purchasing an additional 3,500 shares during the period. Hedge funds and other institutional investors own 55.62% of the company’s stock.

About TravelCenters of America

TravelCenters of America Inc 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, diesel exhaust fluid, and truck repair and maintenance, and roadside services, as well as operates full service and quick service restaurants, and various customer amenities.

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