TravelCenters of America (NASDAQ:TA) Price Target Cut to $34.00

TravelCenters of America (NASDAQ:TA) had its target price reduced by equities research analysts at B. Riley from $45.00 to $34.00 in a report released on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. B. Riley’s target price points to a potential upside of 119.07% from the stock’s current price.

A number of other brokerages have also recently issued reports on TA. ValuEngine raised shares of TravelCenters of America from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of TravelCenters of America from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 9th.

Shares of TravelCenters of America stock traded down $0.55 during trading on Tuesday, reaching $15.52. The company’s stock had a trading volume of 2 shares, compared to its average volume of 14,313. TravelCenters of America has a 52-week low of $14.65 and a 52-week high of $30.50. The company has a market cap of $129.82 million, a P/E ratio of -4.85 and a beta of 1.63. The firm has a 50-day simple moving average of $4.79. The company has a current ratio of 0.90, a quick ratio of 0.45 and a debt-to-equity ratio of 4.27.

TravelCenters of America (NASDAQ:TA) last announced its quarterly earnings data on Monday, August 5th. The specialty retailer reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.70). TravelCenters of America had a negative net margin of 1.91% and a negative return on equity of 4.51%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the company posted ($0.05) EPS. TravelCenters of America’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, analysts predict that TravelCenters of America will post -0.7 EPS for the current fiscal year.

In related news, VP Mark R. Young sold 101,010 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $3.68, for a total transaction of $371,716.80. Following the completion of the sale, the vice president now directly owns 181,988 shares in the company, valued at approximately $669,715.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Barry A. Richards sold 37,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $3.87, for a total transaction of $143,190.00. Following the sale, the chief operating officer now owns 215,235 shares of the company’s stock, valued at $832,959.45. The disclosure for this sale can be found here. 8.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in TravelCenters of America by 12.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,568,181 shares of the specialty retailer’s stock worth $5,896,000 after purchasing an additional 173,738 shares in the last quarter. Squarepoint Ops LLC bought a new position in TravelCenters of America in the 4th quarter worth $243,000. Strategic Financial Services Inc bought a new position in TravelCenters of America in the 1st quarter worth $97,000. Menta Capital LLC raised its holdings in TravelCenters of America by 26.1% in the 1st quarter. Menta Capital LLC now owns 20,160 shares of the specialty retailer’s stock worth $83,000 after purchasing an additional 4,171 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in TravelCenters of America by 21.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 94,335 shares of the specialty retailer’s stock worth $388,000 after purchasing an additional 16,732 shares in the last quarter. Institutional investors own 36.68% of the company’s stock.

About TravelCenters of America

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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