TravelCenters of America LLC (NYSE: TA) shares rose in value on Wednesday January 18 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, in early trade today, the S&P 500 SPX, +0.00% was off 2 points, or 0.1%, at 2,265, shortly after open. The Nasdaq Composite COMP, +0.20% was flat at 5,537. The Dow Jones Industrial Average DJIA, -0.20% slipped 54 points or 0.3%, to 19,770.
Analysts at Zacks Investment Research upgraded shares of TravelCenters of America LLC (NYSE: TA) from Sell to Hold today. With a rating of Hold on the shares, the company has a 52-week high of $9.58. A number of other analysts have spoken on the company recently, and the company has earned a consensus one-year price target of $9.80, higher than the opening price of $7.20, a difference of 13.61 percent. Share prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of TravelCenters of America LLC (NYSE: TA) opened at $7.20 yesterday trading between $7.10 and $7.20, and last traded at $7.20, which represents a spike of $0.05 from the previous closing price.
TravelCenters of America LLC (NYSE: TA) now has a market cap of 279.73M.
TravelCenters of America LLC (NYSE: TA) Average Daily Trading Volume
The stock’s average daily volume is 213,395 shares out of a total float 35,317,000 and some 6,706 shares crossed the trading desk yesterday, 64 percent lower than the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.
TravelCenters of America LLC (NYSE: TA) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, TravelCenters of America LLC (NYSE: TA) now has a 50-day MA of $7.10 and 200-day MA of $7.16. It has traded in a 52-week range between $5.65 – 9.58 and today’s last price is 24.84%% lower than the 52 week high of $9.58.
Earnings growth is a critical factor to research when buying stocks and investors seek companies that have increased their earnings by at least 25% over 3 consecutive years.
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