Analyst action: Genesco, Dollar General

Two of the most prominent retailers based in Middle Tennessee are trading down Wednesday morning after negative notes from analysts.

Genesco is off more than 3 percent following the decision by Goldman Sachs analyst Taposh Bari to launch coverage of the shoe and hat seller with a 'sell' rating based on "the absence of positive alpha catalysts." Bari also questions the company's investments in the Lids Locker Room sports gear division and sees the stock (Ticker: GCO) falling to $63 from its $72 Tuesday close.

Dollar General shares (Ticker: DG) also are swimming against the tide this morning after Wells Fargo's Matt Nemer downgraded the discount giant to 'market perform' from 'outperform' because of the risk that a weak economy will eat into the company's sales and margins. He has lowered his 2014 EPS outlook by 5 percent and sees the stock going nowhere from its current level of $57 and change.

Feb 19, 2014 9:54 AM

Permit Patrol: 17 February 2014

A big bank name for SoBro, upgrades at Children's and HCA, Nolensville apartment build, and more...
Feb 17, 2014 7:23 AM

Tractor Supply's bullish defenders help limit the damage

A couple of analysts following Tractor Supply said Thursday that investors shouldn't overreact to the company's so-so 2014 guidance, which initially pushed down its shares by more than 5 percent. At Robert W. Baird, Peter Benedict says the company's fundamentals are strong enough to endure and that this pullback has created a good buying opportunity. Wells Fargo's Matt Nemer, meanwhile, expects the relatively bad news to be quickly surpassed by strong January numbers.

Those comments appear to have helped Tractor Supply investors quickly find a bottom Thursday and climb from there. At about 1:40 p.m., the stock (Ticker: TSCO) was down just 2 percent on the day on volume that was on track to be the double the average.


Jan 30, 2014 1:33 PM

Delek adds lot of financial firepower

The member of the finance team at Delek US Holdings earlier this month upsized their asset-based credit facility with a consortium led by Wells Fargo. Among the changes are a $190 million increase in the company's swing line and letter of credit sublimits and the addition of a $70 million term loan. On top of that, the facility's new accordion feature lets the Brentwood-based oil refiner and marketer (Ticker: DK) add another $875 million of lender commitments. The full details are here, with the rundown of the old agreement here.

Jan 27, 2014 6:58 AM

Gulch Crossing developer lands $62.9M loan

Gulch Crossing LLC, the developer of the Gulch building of the same name (minus the "LLC" of course) currently under construction on 11th Avenue, has secured from Wells Fargo Bank a loan of $62.9 million, according to documents filed with the Davidson County Register of Deeds. Gulch master developer MarketStreet Enterprises created the LLC for the project and declined to provide additional financial details (including the amount of equity in the project), citing a longstanding policy of not disclosing financials related to its developments.

Dec 5, 2013 7:20 AM

Wells trims First Acceptance stake

As things stand, Wells Fargo will not show up in the 2014 proxy statement of Green Hills auto insurer First Acceptance. The banking giant this week filed papers with the Securities and Exchange Commission saying it now owns 4.9 percent of First Acceptance, down from 5.2 percent in the spring. Shares of First Acceptance (Ticker: FAC) are up more than 21 percent this year but down 50 percent since 2008.

Oct 11, 2013 12:12 PM

Wells adds SBA specialist for Tennessee, Alabama

Belmont grad helped boost Fifth Third portfolio
Apr 5, 2013 6:56 AM

Diversified beefs up operations staff

VPs join wealth manager from Wells, Central Parking
Dec 4, 2012 1:13 PM

CapStar beefs up correspondent banking

Lender also hires in St. Louis and for local loan support roles
Aug 16, 2012 7:35 AM

Wells: The numbers work in Gaylord conversion

Shares of Gaylord Entertainment (Ticker: GET) are bucking the market Monday morning thanks to an upgrade from Wells Fargo analyst Jeff Donnelly. In hiking his rating to 'outperform' from 'market perform' and lifting his target price range into the mid-$40s, Donnelly says shareholders are on track to make more than 30 percent from today if the company's planned sale of its main brand and hotel management rights to Marriott goes through.

Of course, that's a bigger if these days than it was in late May.

Jul 30, 2012 10:56 AM