We think TravelCenters of America (TA) is one of the most undervalued stocks in the market. TravelCenters of America is a best of breed player in an oligopoly type of market. TA's PE ratio is under 5, and though the economy has been sluggish and fuel prices have been volatile, TA has delivered eleven straight quarters of year-over-year earnings improvement. It trades for less than half of its book value, and the cash on its balance sheet nearly equals its entire market cap. TA is drastically undervalued by many measures.
TravelCenters of America operates and franchises 243 travel centers mostly along the U.S. interstate highway system under the TA and Petro brands. TA caters largely to long haul...
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