TravelCenters of America LLC (TA) Sees Strong Trading Volume
TravelCenters of America LLC (NYSE:TA) shares saw unusually-high trading volume on Thursday . Approximately 277,415 shares were traded during mid-day trading, a decline of 16% from the previous session’s volume of 331,044 shares.The stock last traded at $8.51 and had previously closed at $8.42.
TA has been the topic of several research analyst reports. Citigroup Inc. lowered their price objective on shares of TravelCenters of America from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, March 21st. Zacks Investment Research downgraded shares of TravelCenters of America from a “hold” rating to a “sell” rating in a research note on Thursday, March 17th. FBR & Co restated an “outperform” rating and issued a $16.00 price objective (up previously from $15.00) on shares of TravelCenters of America in a research note on Tuesday, May 10th. Finally, BMO Capital Markets restated a “hold” rating on shares of TravelCenters of America in a research note on Wednesday, May 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. TravelCenters of America presently has a consensus rating of “Hold” and a consensus target price of $12.33.
The firm has a market cap of $330.17 million and a PE ratio of 160.57. The firm has a 50 day moving average price of $7.84 and a 200-day moving average price of $7.63.
TravelCenters of America (NYSE:TA) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.08. During the same period in the prior year, the business posted $0.41 earnings per share. The business earned $1.16 billion during the quarter, compared to analysts’ expectations of $1.40 billion. The firm’s revenue was down 17.3% on a year-over-year basis. Analysts forecast that TravelCenters of America LLC will post $0.31 EPS for the current fiscal year.
In other news, EVP Barry A. Richards sold 53,309 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The stock was sold at an average price of $7.14, for a total transaction of $380,626.26. Following the sale, the executive vice president now owns 103,763 shares in the company, valued at approximately $740,867.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark R. Young sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $7.19, for a total value of $215,700.00. Following the sale, the vice president now owns 182,355 shares in the company, valued at approximately $1,311,132.45. The disclosure for this sale can be found here.
Several large investors recently made changes to their positions in TA. Alpine Woods Capital Investors LLC boosted its stake in shares of TravelCenters of America by 16.3% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 222,800 shares of the company’s stock worth $2,094,000 after buying an additional 31,300 shares in the last quarter. Wells Fargo & Company MN boosted its stake in TravelCenters of America by 10.3% in the fourth quarter. Wells Fargo & Company MN now owns 159,300 shares of the company’s stock worth $1,497,000 after buying an additional 14,813 shares during the period. Finally, Morgan Stanley boosted its stake in TravelCenters of America by 3.8% in the fourth quarter. Morgan Stanley now owns 276,335 shares of the company’s stock worth $2,598,000 after buying an additional 10,215 shares during the period.
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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