TravelCenters Receives a Buy from B.Riley FBR


B.Riley FBR analyst Bryan Maher maintained a Buy rating on TravelCenters (NYSE: TA) today and set a price target of $9. The company’s shares opened today at $3.20, close to its 52-week low of $2.95.

Maher wrote:

“TravelCenters of America (TA) reported 1Q18 results below both our and consensus estimates. Relative to our model, the culprit was site-level operating expenses that were above expectations, partially due to higher labor expense associated with the increase in non-fuel sales. However, there were a lot of moving parts to the quarter, including the expected receipt of a $23.3M biodiesel fuel tax credit. EPS came in at ($0.25), below our estimate of ($0.11) and consensus ($0.16). Reported EBITDA came in at $20.4M, below our estimate of $29.5M and consensus $27.5M. On a same-site basis, site-level operating expenses as a percentage of non-fuel revenues actually improved 90 bps, and by 150 bps in the company’s travel centers segment.”

According to TipRanks.com, Maher is a 2-star analyst with an average return of 0.9% and a 52.3% success rate. Maher covers the Financial sector, focusing on stocks such as Government Properties Income Trust, Senior Housing Properties Trust, and Condor Hospitality Trust Inc.

TravelCenters has an analyst consensus of Moderate Buy, with a price target consensus of $6.50.

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The company has a one-year high of $5.85 and a one-year low of $2.95. Currently, TravelCenters has an average volume of 173.3K.

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TravelCenters of America LLC engages in the operation and franchise of travel centers and convenience stores. It products and services include diesel fuel and gasoline, truck repair and maintenance services, full service restaurants, quick serve restaurants, travel and convenience stores, and various driver amenities.

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