TravelCenters of America LLC (TA) Shares Down 6.4% After Earnings Miss

TravelCenters of America LLC (NYSE:TA)’s share price was down 6.4% during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $3.50 and last traded at $3.65, with a volume of 689,235 shares. The stock had previously closed at $3.90.

The specialty retailer reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.55 billion. TravelCenters of America had a negative net margin of 2.11% and a negative return on equity of 20.79%. TravelCenters of America’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.09 EPS.

A number of equities research analysts have issued reports on TA shares. Citigroup Inc. reaffirmed a “buy” rating and issued a $5.50 price target (down previously from $7.50) on shares of TravelCenters of America in a research report on Monday, May 15th. TheStreet downgraded TravelCenters of America from a “c-” rating to a “d+” rating in a report on Thursday, June 8th. Zacks Investment Research upgraded TravelCenters of America from a “strong sell” rating to a “hold” rating in a report on Thursday, July 13th. FBR & Co reiterated an “outperform” rating and issued a $9.00 price objective (down previously from $11.00) on shares of TravelCenters of America in a report on Wednesday, May 10th. Finally, ValuEngine downgraded TravelCenters of America from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. TravelCenters of America has a consensus rating of “Hold” and an average target price of $7.25.

In other TravelCenters of America news, insider Michael J. Lombardi acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average price of $4.05 per share, for a total transaction of $40,500.00. Following the acquisition, the insider now owns 393,385 shares in the company, valued at approximately $1,593,209.25. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. increased its position in TravelCenters of America by 18.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 16,414 shares of the specialty retailer’s stock worth $100,000 after buying an additional 2,500 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in TravelCenters of America during the first quarter worth about $106,000. Brandes Investment Partners LP purchased a new position in TravelCenters of America during the first quarter worth about $109,000. State Street Corp increased its position in TravelCenters of America by 29.5% in the second quarter. State Street Corp now owns 41,685 shares of the specialty retailer’s stock worth $171,000 after buying an additional 9,506 shares in the last quarter. Finally, Menta Capital LLC increased its position in TravelCenters of America by 71.0% in the first quarter. Menta Capital LLC now owns 30,113 shares of the specialty retailer’s stock worth $184,000 after buying an additional 12,505 shares in the last quarter.

The stock’s market cap is $140.42 million. The stock has a 50-day moving average price of $3.81 and a 200-day moving average price of $5.09.

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TravelCenters of America Company Profile

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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