NHI gets a downgrade
Posted on July 14, 2009 at 9:56 amNational Health Investors has been downgraded from ‘Buy’ to ‘Hold’ by analysts from Stifel Nicolas.
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Welcome to the 600
Posted on July 10, 2009 at 7:08 amStandard & Poor’s announced late yesterday that Healthcare Realty Trust has been added to its S&P SmallCap 600
Healthcare Realty Trust Inc. will replace Wabash National Corp. in the S&P SmallCap 600 after the close of trading on Thursday, July 16. As of today’s close of trading Wabash had a market capitalization below $19 million, ranking it 600th in the index.
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Franklin co. ‘overvalued,’ says AFG
Posted on July 8, 2009 at 10:15 amBioMimetic Therapeutics made a list of “15 Overvalued Small Cap Stocks” as rated by Applied Finance Group.
The 15 firms listed below all meet AFG’s Sell Criteria and all look extremely overvalued according to AFG’s valuation model. These companies all possess the characteristics of a bad investment and may be a potential torpedo lurking in your portfolio. AFG has proven successful since 1996 at identifying good companies as well as sell opportunities, providing a solid buy/sell spread.
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HealthSpring may struggle with the rest
Posted on at 7:53 amSeekingAlpha blogger thinks shares of health insurers will likely fall today due to lingering uncertainty over President Obama’s health reform bill which yesterday bounced back and forth between requiring and not requiring a public plan.
Health insurers’ stock prices are likely to fall Wednesday. Most of them rose smartly Tuesday on news that President Obama would accept a health bill without a public option health plan.
But not only did the left get to Obama and force him to reassert his demands for a public option health plan, or Government HMO, Senate Majority leader Harry Reid (D-NV) told Sen. Max Baucus (D-MT) that the health bill must include the Government HMO.
Both Obama and his chief of staff, Rahm Emanuel, look silly and weak. They’ve been rolled by their hard left base once again. And it might and should kill their health insurance reform bill, which really isn’t a reform bill but an inflationary health care spending bill that would cost trillions over the next 5, 10 and 20 years.
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Feeling confident at TSCO
Posted on at 7:30 amBrentwood’s Tractor Supply Co. announced that it has raised its profit target for 2009.
Tractor Supply Co. said it’s raising its profit target for fiscal 2009, pegging earnings in a range of $2.78 to $2.92 a share. This compares with a prior projection of $2.58 to $2.74 a share, while revising its full-year sales forecast to a range of $3.15 billion to $3.25 billion, as opposed to $3.2 billion to $3.3 billion previously. The revision coincides with the Brentwood, Tenn.-based retailer’s sales results for the second quarter ended June 27.
Full announcement.
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Prices are up, but don’t get too giddy
Posted on July 7, 2009 at 2:20 pmDespite a substantial rebound in the price for its key product, oriented strand board, in the last month, analysts from UBS warn the good news is not a sign of a sustainable recovery for the company which has struggled greatly in the last year.
But UBS argued that the turn in pricing didn’t signal any sustainable recovery, but instead mostly reflected a modest inventory build after LPX customers depleted their inventories in preceding months. There would have been a small measure of a seasonal bulge in demand, but it turned out to be smaller than usual, and came later in the calendar than in previous years.
That’s meant that it won’t do anything to help Louisiana-Pacific’s second quarter. Analysts expected the company to record a loss of 32 cents a share when it reports its results July 27. UBS said it anticipated a loss of 33 cents a share for the period.
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Pinnacle’s new Knoxville chairman
Posted on at 10:25 amLocally based Pinnacle Financial Partners has named former Regions banker Harvey White as its new chairman and senior credit officer for its Knoxville office.
“Harvey is one of the most highly regarded members of the Knoxville banking community,” Hunter said. “His 35-year track record exemplifies Pinnacle’s model of hiring the most experienced and successful professionals in the marketplace.”
White has worked for Regions Bank and its predecessor companies for 28 years, serving as senior credit officer since 1999. He began his career at United Virginia Bank as a relationship manager
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Now it’s downgraded
Posted on at 10:10 amAmbulatory surgery center operator AmSurg, which yesterday received an upgrade to ‘Buy’ from TheStreet.com Ratings, this morning was downgraded to ‘Neutral’ by Whit Mayo from Robert W. Baird
A Robert W. Baird analyst downgraded outpatient surgery center operator AmSurg Corp. Tuesday, citing a lack of upcoming catalysts and the likelihood the stock will remain flat.
Baird analyst Whit Mayo lowered his rating to “Neutral” from “Outperform” but lowered his price target to $23 from $24, saying the share value has returned to a more reasonable level.
“Thus, outside of a re-acceleration in earnings, we see few significant catalysts and expect the stock to trade sideways,” he wrote in a note to investors.
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O’Charley’s outsources some more
Posted on July 6, 2009 at 2:39 pmRestaurant company O’Charley’s Inc has entered into an agreement with Wisc.-based Reinhart FoodService to outsource its food supply and distrbution for its Ninety Nine chain of restaurants.
The agreement, valued at $6 million to $8 million, involves transferring O’Charley’s assets in Bellingham, Mass., where its current distribution center is, according to a news release. Reinhart plans to sublease and operate the center for less than a year, while it builds the existing capacity of its New Bedford, Mass., distribution center.
The company previously outsourced its distribution for both its O’Charley’s and Stoney River chains.
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AmSurg rated a ‘Buy’
Posted on at 11:39 amTheStreet.com Ratings announced early this morning that it has upgraded surgery center operator AmSurg to “Buy”
The numbers: Fiscal first-quarter revenue rose 12% to $163 million as net income climbed 7.8% to $13 million and earnings per share ascended 8.1% to 40 cents, extending a growth streak to nine quarters. The cash balance is ample with $31 million of reserves. The debt-to-equity ratio is low at 0.6. The net margin is wide at 7.7% but has shed 30 basis points since last year’s first quarter.
The stock: Amsurg is down 10% in 2009, trading at a price-to-earnings ratio of about 13. The company has a market capitalization of $670 million.
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