TravelCenters of America (TA) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of TravelCenters of America (NASDAQ:TA) from a buy rating to a hold rating in a report released on Saturday.

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 also recently weighed in on TA. B. Riley reissued a buy rating on shares of TravelCenters of America in a research note on Wednesday, November 1st. FBR & Co reissued a buy rating and issued a $10.00 price objective (up from $9.00) on shares of TravelCenters of America in a research note on Tuesday, September 12th. Finally, Citigroup downgraded TravelCenters of America from a buy rating to a sell rating and set a $4.50 price objective on the stock. in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $7.38.

TravelCenters of America (NASDAQ TA) opened at $4.60 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.64 and a debt-to-equity ratio of 1.18. TravelCenters of America has a one year low of $2.95 and a one year high of $7.75.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TA. Bank of America Corp DE grew its holdings in TravelCenters of America by 1,039.9% in the 1st quarter. Bank of America Corp DE now owns 189,604 shares of the specialty retailer’s stock valued at $1,156,000 after buying an additional 172,971 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of TravelCenters of America by 92.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 300,604 shares of the specialty retailer’s stock worth $1,834,000 after purchasing an additional 144,115 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of TravelCenters of America by 78.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 483,912 shares of the specialty retailer’s stock worth $1,984,000 after purchasing an additional 212,201 shares in the last quarter. Boston Partners grew its holdings in shares of TravelCenters of America by 0.5% during the 2nd quarter. Boston Partners now owns 404,594 shares of the specialty retailer’s stock worth $1,659,000 after purchasing an additional 2,047 shares in the last quarter. Finally, Falcon Point Capital LLC grew its holdings in shares of TravelCenters of America by 1.8% during the 2nd quarter. Falcon Point Capital LLC now owns 217,636 shares of the specialty retailer’s stock worth $892,000 after purchasing an additional 3,932 shares in the last quarter. 34.10% of the stock is currently owned by hedge funds and other institutional investors.

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About TravelCenters of America

TravelCenters of America LLC (TravelCenters) operates and franchises travel centers and convenience store and restaurant locations. The Company’s segments include travel centers, convenience stores, and corporate and other. The Company offers 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 (QSRs), travel/convenience stores and various customer amenities.

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