Benchmark Upgrades The Pantry (PTRY) to Buy; Analyst Sees Turn in Fuel Comps
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Price: $36.74 --0%
Rating Summary:
2 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
2 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Benchmark upgraded The Pantry (NASDAQ: PTRY) from Hold to Buy with a price target of $18.00.
Analyst Ronald Bookbinder said, "We believe the Company has turned around the merchandise comps through the use of systems and by adding quick serve restaurants. We believe the Company is on the path to turning around the fuel comps through the use of systems also. While we expect the fuel comp should continue lower, we believe a new fuel pricing system to optimize fuel profitability and volume, while reducing shrink should, over time, improve the fuel metrics, driving overall EBITDA."
"While we maintain our FY2014 EPS estimate of $0.58, we believe that the company may be at an inflection point for operating margins to begin to increase. We maintained our price target of $18 on 6x our 2014 EBITDA estimate," he added.
For an analyst ratings summary and ratings history on The Pantry click here. For more ratings news on The Pantry click here.
Shares of The Pantry closed at $15.15 yesterday.
Analyst Ronald Bookbinder said, "We believe the Company has turned around the merchandise comps through the use of systems and by adding quick serve restaurants. We believe the Company is on the path to turning around the fuel comps through the use of systems also. While we expect the fuel comp should continue lower, we believe a new fuel pricing system to optimize fuel profitability and volume, while reducing shrink should, over time, improve the fuel metrics, driving overall EBITDA."
"While we maintain our FY2014 EPS estimate of $0.58, we believe that the company may be at an inflection point for operating margins to begin to increase. We maintained our price target of $18 on 6x our 2014 EBITDA estimate," he added.
For an analyst ratings summary and ratings history on The Pantry click here. For more ratings news on The Pantry click here.
Shares of The Pantry closed at $15.15 yesterday.
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