Avondale Partners analysts have launched coverage of shares of Brentwood-based Tractor Supply with an 'outperform' rating. The firm's price target of $127 is the highest on the Street, topping the recently hiked forecasts by analysts at Oppenheimer and Janney Montgomery Scott. Tractor Supply (Ticker: TSCO) closed Monday trading at $112 and change.
Over at Barclays Capital, analyst Paul Cheng has lifted his target for shares of Delek Logistics to $36 from $33. Cheng still has an 'outperform' rating on Delek Logistics (Ticker: DKL), which have climbed more than 50 percent so far in 2013.
The average per-gallon price of regular gas in Tennessee was $3.26 as of yesterday, once cent more compared to the figure from the previous week, according to AAA.
In Nashville, the average per-gallon price of regular gas was 3.26 as of Sunday, a once-cent increase compared to the figure from the previous week. (See chart below.)
As of Sunday, the national average price was $3.65, a seven-cent per-gallon increase. More specifically, and to compare to Tennessee, Georgia’s per-gallon average of $3.45 rose one cent.
Similarly, oil prices remained relatively stable nationwide last week, according to AAA The Auto Club Group.
The cost for a barrel of oil closed at $96.02 on the New York Mercantile Exchange, two cents less than the figure from the week prior, AAA reported.
“People who plan to enjoy Memorial Day weekend will likely see stable prices at the pump and shouldn’t expect prices to spike, barring any unforeseen events that endanger fuel supplies," Jessica Brady, AAA spokeswoman, The Auto Club Group, said in a release. “Although gas prices are nearing year-ago levels, they are not expected to deter holiday travelers from enjoying the three-day weekend.”
U.S. output of crude oil rose two weeks ago, pushing supplies to an 82-year high, according to the U.S. Energy Information Administration.
Restaurant franchisee Henson Moore and his business partners will next Monday open the doors to their second Bojangles’ location — and the sixth in Middle Tennessee — this one on Old Hickory Boulevard in Nipper's Corner. Moore, a former attorney, opened the North Carolina-based chain's first area location on Charlotte Pike in 2005.
“We are thrilled to expand our presence in the Nashville community,” said Moore. “As we’ve successfully grown our first location, we knew it was time to bring Bojangles’ to a wider audience. The people in Nashville have been very good to our business.”
The new 2,400-square-foot restaurant includes a drive-thru and can seat up to 72 people. It will employ about 65 workers.
Southern Land announced today that Charming Charlie, the Houston-based fashion jewelry and accessory store, will open this fall a retail location that will serve as an anchor at Southside at McEwen in Franklin.
In addition, home decor and interior design center Pierce & Co. will open at Southside this summer. Terms of the leases are not being disclosed.
Charming Charlie, which will occupy 5,000 square feet of space, first received recognition in 2004 with a concept involving a storybook of accessories created through color coordinating trends.
Pierce & Co. founder Jonathan Pierce gained national recognition as the lead designer in CMT Ultimate Country Home series as well as HGTV’s Interior’s Inc. The company is Nashville-based.
The two retailers will join, among others, lululemon, Mountain High Outfitters, Posh and Whole Foods. Southside at McEwen was completed in 2012 and sits adjacent to the office building Southern Land sold last year for $40 million.
The folks at casual-dining chain Granite City Food & Brewery are quite happy with the Cool Springs location they opened on McEwen Drive in February. In reporting that total restaurant sales rose from $28.6 million in the first quarter of 2012 to $35 million early this year, CEO Rob Doran says the Franklin restaurant posted "tremendous" numbers. See the company's full earnings report here.
Saying that Apple's profits are "on the back side of the mountain," David Trainer of New Constructs on Tuesday told viewers of MoneyLife with Chuck Jaffe that the company's shares are worth just $240, more than 40 percent below where they closed trading yesterday. Trainer's method of valuing stocks relies on deep dives into its financials and he said Apple is looking a lot like Dell in its heyday.
Trainer said that if the company can maintain a 75% return on invested capital, “the stock’s worth about 295 bucks. If the return on invested capital drops closer to 50, the stock’s worth closer to 240 bucks, and I think that’s where it ought to be, or where it’s going to go eventually.”
UPDATE: Trainer also talked to CNBC's "Squawk on the Street" Wednesday