fellow longtime posters....ok, at these prices ($3.30ish/share today), TA is prices for going out of business. I spent hours again this weekend going over the financials, the "hard" assets that TA owns, the business, their relationship with HPT. Here is the down and dirty. * the U.S. freight index remains strong. I have spoken to a number of sales people in the freight biz and all said it remains strong. * fuel prices are continuing to fall...which means TA retains higher pump prices LONGER and can make MORE $$$. It is the nature of this business. * TA now owns 17 travel centers outright-no liens, no mortgages-nothing. Do the math, use the same "bargain" prices TA paid for the group of travel centers this year. * TA owns outright 8 parcels of land. All these are highway/interstate frontage and average 23 acres each with zoning in place. * add in the operating business, the shops/stores/restaurants, the access & visibility, the high margin retail biz, the refusal of TA to "chase" low margin fuel sales, the inventory, the cash on hand, a landlord for HPT that has proven they will work with TA no matter the economy (meaning TA will not go broke). * TA along with Pilot/Flying J have a complete and utter DUOPOLY...they are THE big dogs in the kennel...note TA's CEO stated in a recent conference call that TA considered these locations "irreplacable"...meaning most of the prime interstate highway locations that have proper zoning are GONE...no mas, no mas. * since I own a boatload of TA stock I am disappointed in the share performance...BUT just wait til Q3 earnings are announced in a few weeks....biz is good, truck drivers have money in their pockets and they are spending it, fuel prices have been gradually declining...this is ALL good for TA shareholders.
You are absolutely correct Gran but all the facts dont matter with this stock...its being manipulated....The recent 30% clip is though to a fund selling...I dont blame them...its disgusting. I am just going to put this one back in the oven and take it out this year...too much BS headlines this year with EU that is not helping any solid fundementally sound stock much less one run by a idiotic management.