Navigant Consulting Inc.

Size: px
Start display at page:

Download "Navigant Consulting Inc."

Transcription

1 February 17, 2015 Navigant Consulting Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 08/15/2013 Current Price (02/16/15) $14.99 Target Price $ Week High $ Week Low $13.01 One-Year Return (%) Beta 1.32 Average Daily Volume (sh) 258,188 Shares Outstanding (mil) 48 Market Capitalization ($mil) $727 Short Interest Ratio (days) 3.52 Institutional Ownership (%) 92 Insider Ownership (%) 2 Annual Cash Dividend $0.00 Dividend Yield (%) Yr. Historical Growth Rates Sales (%) 5.0 Earnings Per Share (%) 13.4 Dividend (%) N/A using TTM EPS 14.7 using 2015 Estimate 15.6 using 2016 Estimate 13.6 Zacks Rank *: Short Term 1 3 months outlook 4 - Sell * Definition / Disclosure on last page (NCI-NYSE) SUMMARY Navigant reported solid fourth quarter results with adjusted earnings beating the Zacks Consensus Estimate by $0.08. Going forward, the company s strategy of inorganic expansion is likely to propel its growth momentum. Navigant is also restructuring its business in order to better align the capacity with demand and aims to diligently reduce its operating expenses to improve profitability. Navigant keeps its focus on corporate development efforts to build a very robust pipeline of investment opportunities which is inline with its growth strategy. However, stiff competition, currency fluctuations, and regulatory stringencies are likely to peg back its profitability to some extent. We maintain our long-term Neutral recommendation for the stock. Risk Level * Below Avg., Type of Stock Small-Value Industry Consulting Zacks Industry Rank * 57 out of 267 ZACKS CONSENSUS ESTIMATES Revenue Estimates (In millions of $) Q1 Q2 Q3 Q4 Year (Mar) (Jun) (Sep) (Dec) (Dec) A 213 A 212 A 205 A 845 A A 208 A 230 A 224 A 860 A E 206 E 213 E 214 E 838 E E Earnings Per Share Estimates (EPS is operating earnings before non-recurring items, but including employee stock options expenses) Q1 Q2 Q3 Q4 Year (Mar) (Jun) (Sep) (Dec) (Dec) 2013 $0.27 A $0.31 A $0.25 A $0.25 A $1.08 A 2014 $0.20 A $0.22 A $0.32 A $0.28 A $1.02 A 2015 $0.18 E $0.24 E $0.28 E $0.26 E $0.96 E 2016 $1.10 E Projected EPS Growth - Next 5 Years % Zacks Investment Research, All Rights reserved S. Riverside Plaza, Chicago IL 60606

2 OVERVIEW Founded in 1983 and headquartered in Chicago, Illinois, Navigant Consulting Inc. is a provider of specialized consulting services. The company s staff of seasoned consultants and industry leaders provides litigation support and investigative services, claims management and analysis, corporate finance services, discovery services, government contracting services as well as operations advisory and management process outsourcing services. Navigant Consulting primarily focuses on customers in industries undergoing substantial regulatory and structural changes, including construction, energy, financial services and healthcare. The company went public in Navigant derives majority of its revenue before reimbursement from professional service fees. The company operates through four segments. In second-quarter 2012, Navigant modified its business segments to Disputes, Investigations & Economics, Financial, Risk & Compliance Advisory, Healthcare and Energy. Its previous segments were Business Consulting services, Dispute and Investigative Services, Economic Consulting and International Consulting. The Disputes, Investigations & Economics segment provides a wide range of services related to accounting, financial and economic analysis, as well as discovery support, data management, analytics and regulatory compliance. Its clientele consists of law firms, accounting firms, corporate boards and government agencies. The Financial, Risk & Compliance Advisory segment provides strategic, operational, valuation, risk management, investigative and compliance consulting services to clients. The clients are principally from the highly regulated financial services industry, including major financial and insurance institutions. This segment also provides anti-corruption and restructuring consulting to clients. The Healthcare segment provides strategic, operational, management and financial advisory services to health systems, physician practice groups, payers and life sciences companies. The Energy segment provides existing and prospective owners of energy supply and delivery assets with the ability to evaluate and enhance their entities. Its clientele consists of utilities, independent power producers, financial entities, law firms, regulators, and energy equipment providers. Equity Research NCI Page 2

3 REASONS TO BUY Opportunities associated with healthcare reform continue to drive demand as the industry seeks expertise to improve profitability and address increasing regulatory pressures for compliance. With the acquisition of EthosPartners Healthcare Management, Paragon Health and Easton Associates, Navigant is anticipated to achieve its operational goals and augment its opportunities associated with healthcare reform. The company aims to strengthen its healthcare business deep expertise in the regulated life sciences industry by extending its capabilities in business strategy development, opportunity assessment, R&D portfolio management, new business and new product planning. Additionally, the energy practice continues to benefit from demand for services related to energy efficiency, Smart Grid and renewable energy. The demand for data analytics in healthcare across all markets is also growing, given the access to new data as a result of the Affordable Care Act and new technologies. The company is presently developing data analytic tools across multiple groups to meet the growing demand for technology-enabled solutions that can help clients address many of the market challenges. Going forward, management identifies healthcare as key area for long-term growth and subsequently aims to sharpen its investment focus within these practices. Credit crisis work continues to drive sizable activity and has created further opportunities as the company combined the arm with the data analytics and technology solutions capabilities. Navigant s international business also continued its steady improvement. Additionally, the company is growing inorganically. Navigant acquired Cymetrix Corporation, an Irvine-based revenue cycle management firm specializing in providing outsourcing services to hospital healthcare networks. Cymetrix is expected to add significant depth to Navigant s subsidiary Alleviant, LLC, which presently provides physician revenue cycle outsourcing services. The new entity, Navigant Healthcare Cymetrix, is wellpoised to become a leading provider of end-to-end revenue cycle management services. Navigant aims to achieve its ongoing commitment to deliver the highest value of quality service for its clients; to leverage its prior investment actions to accelerate organic growth and to improve the profitability of its consulting practices while managing the compression from investing in and delivering large business process management services contracts. Management is taking steps to restructure the business in order to better align the capacity with demand. The company has efficiently managed its debt obligation. Utilizing its strong cash flow generation capacity, the company continues to return capital to its shareholders and making investments in technology, new capabilities and client channels. At the same time, Navigant keeps its focus on corporate development efforts during the year to build a very robust pipeline of investment opportunities which is in-line with its growth strategy. The company aims to use its strong cash position to complement its current high-demand businesses. All these measures augur well for the long-term growth. Equity Research NCI Page 3

4 REASONS TO SELL Navigant operates in a highly labor intensive sector. On the face of it, the sector should ideally employ and run with a perfectly skilled work force to track the ever-changing business environment. Since skilled workers are always in high demand, there remains a possibility of high attrition rate within the sector. On the other hand, training of unskilled workers increases operational costs, thereby affecting margins. The business service sector is highly fragmented, with no single service provider possessing dominant market share to rule the industry. Hence, Navigant faces stiff competition from a number of peers while acquiring and maintaining clients for its different business segments, which could further reduce its profitability. Navigant continues to face challenges on both the domestic and international fronts. This is primarily attributable to the difficulties in managing and staffing foreign operations, relatively limited new assignments, currency fluctuations and regulatory stringencies due to the uncertainty in the global economy. As such we are bearish on the stock to some extent. Navigant relies heavily on a group of senior-level consultants and business development professionals. The future success of the company is largely dependent on its ability to successfully recruit and retain its people. Competition for skilled consultants is intense and retention related issues are a continuous challenge for the company. The consulting industry has low barriers to entry and it s easier for consultants to start their own businesses. While hiring and retention of personnel are keys to driving revenues, full-time equivalent levels and related consultant compensation in excess of demand drive additional costs and can negatively impact the company s margins. RECENT NEWS Navigant Beats on Q4 Earnings & Revenue Estimates December 31, 2014 Navigant s adjusted EPS increased 12% to $0.28 in fourth quarter 2014 compared to $0.25 in the prioryear quarter. The adjusted earnings comfortably beat the Zacks Consensus Estimate of $0.20. The increase in earnings was driven by higher revenues. Adjusted EPS for full year 2014 was $1.02 compared to $1.06 for The adjusted earnings per share for full year beat the Zacks Consensus Estimate of $0.95. The company reported fourth-quarter 2014 net income from continuing operations of $12.3 million or $0.25 per share compared with $14.2 million or $0.28 per share in the prior-year quarter. For full year 2014, net loss from continuing operations was $36.9 million or $0.76 per share versus net income from continuing operations of $55.1 million, or $1.08 per share in Total revenue increased 9.0% year over year to $223.6 million, while revenues before reimbursements (RBR) improved 12.0% year over year to $199.5 million in the reported quarter. Reported revenues beat the Zacks Consensus Estimate of $197 million. In particular, the top line benefited from significant revenue gains in the Healthcare segment and robust growth in the Energy business and Disputes, Investigations & Economics segment. For full year 2014, total revenue increased 3.0% year over year to $859.6 million, while revenues before reimbursements (RBR) improved 4.0% year over year to $766.6 million. Adjusted EBITDA stood at $30.2 million in the reported quarter compared to $29.8 million in the prioryear quarter. Adjusted EBITDA was $116.2 million for full year 2014 compared to $124.1 million in Equity Research NCI Page 4

5 Segment Performance RBR for the Healthcare segment increased 39.0% year over year to $61.7 million in the reported quarter, driven primarily by business process management services. The unit s sales also benefited strongly from the recently purchased Cymetrix business. The robust top line also led to improved operating profit for the segment, which was up 6.7% year over year to $16.9 million. The Energy segment s RBR saw growth of 12.3% year over year to $25.8 million in the reported quarter. The growth was driven by investments made in senior hires and continued demand for energy efficiency and demand-side energy management services. The segment s operating profit increased 10.8% year over year to $8.2 million. The Disputes, Investigations & Economics segment s RBR increased 6% year over year to $77.4 million. The increase was driven primarily by higher demand for legal technology solutions and general litigation, and increased activity in global construction, partially offset by lower contribution from economics engagements. Segment operating profit was up 14.8% year over year to $26.3 million. The only unit that showed sustained weakness was the Financial, Risk & Compliance Advisory segment, which registered an 8.0% year-over-year decrease in RBR to $34.6 million. The decrease in RBR was driven by reduction in RBR from restructuring-related services. Operating profit for the segment increased 0.6% year over year to $14.7 million. Balance Sheet and Cash Flow At year-end 2014, Navigant had $2.6 million in cash and cash equivalents versus $2.0 million in the prioryear period. Bank debt was $109.8 million at Dec 31, 2014 compared to $56.7 million at Dec 31, Leverage (bank debt divided by trailing twelve month adjusted EBITDA) was 0.94 at Dec 31, 2014 compared to 0.46 at Dec 31, For full year 2014, net cash from operating activities aggregated $90.1 million, down from $119.8 million in the prior-year period. For full year 2014, free cash flow was $72.4 million compared to $78.8 million for For the full year 2014, Navigant repurchased approximately 1.7 million shares for $27.3 million at an average price of $16.50 per share. As of Dec 31, 2014, the company had $72.7 million worth of shares remaining under its share repurchase authorization. Outlook For full-year 2015, Navigant expects RBR in the range of $815 $845 million, while total revenues are expected to be in the range of $900 $930 million. Adjusted EBITDA is expected to be in the range of $115 $125 million and adjusted EPS is estimated to be between $0.90 $1.00. Going forward, the company remains focused on generating improved organic revenue growth, which further positions it for long-term growth. Equity Research NCI Page 5

6 VALUATION Navigant s current trailing 12-month earnings multiple is 14.7x, compared with the 19.4x average for the peer group and 19.3x for the S&P 500. Over the last five years, the company s shares have traded in the range of 10.7x to 20.4x trailing 12-month earnings. The stock is also trading at a discount to the peer group based on the forward earnings estimates. We maintain our long-term Neutral recommendation for the stock as we anticipate it to perform in line with the broader market. Our target price of $15.00 is based on 16.7 x our 2015 EPS of $0.96. Key Indicators F1 F2 Est. 5-Yr EPS Gr% P/CF 5-Yr High 5-Yr Low Navigant Consulting Inc. (NCI) Industry Average S&P Huron Consulting Group Inc. (HURN) Corporate Executive Board Co. (CEB) CBIZ Inc. (CBZ) Hill International, Inc. (HIL) TTM is trailing 12 months; F1 is 2015 and F2 is 2016, CF is operating cash flow P/B Last Qtr. P/B 5-Yr High P/B 5-Yr Low ROE D/E Last Qtr. Div Yield Last Qtr. EV/EBITDA Navigant Consulting Inc. (NCI) Industry Average S&P Equity Research NCI Page 6

7 Earnings Surprise and Estimate Revision History Equity Research NCI Page 7

8 DISCLOSURES & DEFINITIONS The analysts contributing to this report do not hold any shares of NCI. The EPS and revenue forecasts are the Zacks Consensus estimates. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts personal views as to the subject securities and issuers. Zacks certifies that no part of the analysts compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. Because of individual objectives, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change. This report is not to be construed as an offer or the solicitation of an offer to buy or sell the securities herein mentioned. Zacks or its officers, employees or customers may have a position long or short in the securities mentioned and buy or sell the securities from time to time. Zacks uses the following rating system for the securities it covers. Outperform- Zacks expects that the subject company will outperform the broader U.S. equity market over the next six to twelve months. Neutral- Zacks expects that the company will perform in line with the broader U.S. equity market over the next six to twelve months. Underperform- Zacks expects the company will under perform the broader U.S. Equity market over the next six to twelve months. The current distribution of Zacks Ratings is as follows on the 1121 companies covered: Outperform %, Neutral %, Underperform 7.2%. Data is as of midnight on the business day immediately prior to this publication. Our recommendation for each stock is closely linked to the Zacks Rank, which results from a proprietary quantitative model using trends in earnings estimate revisions. This model is proven most effective for judging the timeliness of a stock over the next 1 to 3 months. The model assigns each stock a rank from 1 through 5. Zacks Rank 1 = Strong Buy. Zacks Rank 2 = Buy. Zacks Rank 3 = Hold. Zacks Rank 4 = Sell. Zacks Rank 5 = Strong Sell. We also provide a Zacks Industry Rank for each company which provides an idea of the near-term attractiveness of a company s industry group. We have 264 industry groups in total. Thus, the Zacks Industry Rank is a number between 1 and 264. In terms of investment attractiveness, the higher the rank the better. Historically, the top half of the industries has outperformed the general market. In determining Risk Level, we rely on a proprietary quantitative model that divides the entire universe of stocks into five groups, based on each stock s historical price volatility. The first group has stocks with the lowest values and are deemed Low Risk, while the 5 th group has the highest values and are designated High Risk. Designations of Below-Average Risk, Average Risk, and Above-Average Risk correspond to the second, third, and fourth groups of stocks, respectively. Analyst: Meenu Goyal Lead Analyst: Supriyo Bose Content Editor: Supriyo Bose QCA: Supriyo Bose Reasons for Update: 4Q14 &FY14 Earnings Update Equity Research NCI Page 8

CRA International Inc.

CRA International Inc. February 27, 2015 CRA International Inc. Current Recommendation Prior Recommendation Outperform Date of Last Change 02/09/2015 Current Price (02/26/15) $30.11 Target Price $32.00 NEUTRAL (CRAI-NASDAQ)

More information

SUMMARY. Risk Level *

SUMMARY. Risk Level * February 02, 2015 Xerox Corporation Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 10/18/2012 Current Price (01/30/15) $13.17 Target Price $14.00 52-Week

More information

Interpublic Group of Companies Inc.

Interpublic Group of Companies Inc. February 16, 2015 Interpublic Group of Companies Inc. (IPG-NYSE) Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 05/28/2012 Current Price (02/13/15) $22.10

More information

(SEIC-NASDAQ) Risk Level *

(SEIC-NASDAQ) Risk Level * March 20, 2015 SEI Investments Co. Current Recommendation NEUTRAL Prior Recommendation Outperform Date of Last Change 09/30/2013 Current Price (03/19/15) $43.74 Target Price $46.00 SUMMARY DATA (SEIC-NASDAQ)

More information

(RHI-NYSE) SUMMARY. Risk Level *

(RHI-NYSE) SUMMARY. Risk Level * March 04, 2015 Robert Half International Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 08/19/2012 Current Price (03/03/15) $62.70 Target Price $66.00

More information

3M Company NEUTRAL ZACKS CONSENSUS ESTIMATES (MMM-NYSE)

3M Company NEUTRAL ZACKS CONSENSUS ESTIMATES (MMM-NYSE) January 29, 2015 3M Company Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 04/27/2010 Current Price (01/28/15) $163.94 Target Price $172.00 52-Week High

More information

Snap-On Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES RECENT NEWS (SNA-NYSE) SUMMARY

Snap-On Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES RECENT NEWS (SNA-NYSE) SUMMARY February 09, 2015 Snap-On Inc. (SNA-NYSE) NEUTRAL Current Recommendation Prior Recommendation Outperform Date of Last Change 09/26/2011 Current Price (02/06/15) $140.99 Target Price $148.00 SUMMARY Keeping

More information

Honeywell International Inc.

Honeywell International Inc. January 29, 2015 Honeywell International Inc. Current Recommendation NEUTRAL Prior Recommendation Outperform Date of Last Change 07/18/2012 Current Price (01/28/15) $99.82 Target Price $105.00 SUMMARY

More information

Vistaprint N.V. NEUTRAL ZACKS CONSENSUS ESTIMATES (VPRT-NASDAQ) SUMMARY

Vistaprint N.V. NEUTRAL ZACKS CONSENSUS ESTIMATES (VPRT-NASDAQ) SUMMARY October 30, 2014 Vistaprint N.V. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 08/07/2013 Current Price (10/29/14) $55.06 Target Price $58.00 52-Week High

More information

Pitney Bowes Inc. (PBI-NYSE) Analyst Note

Pitney Bowes Inc. (PBI-NYSE) Analyst Note February 03, 2015 Pitney Bowes Inc. (PBI-NYSE) Analyst Note Current Recommendation Prior Recommendation Outperform Date of Last Change 05/01/2014 Current Price (02/02/15) $22.26 Target Price $23.00 NEUTRAL

More information

Avery Dennison Corporation

Avery Dennison Corporation March 20, 2015 Avery Dennison Corporation Current Recommendation NEUTRAL Prior Recommendation Outperform Date of Last Change 09/26/2013 Current Price (03/19/15) $53.00 Target Price $56.00 SUMMARY DATA

More information

TE Connectivity Ltd. (TEL-NYSE) Analyst Note

TE Connectivity Ltd. (TEL-NYSE) Analyst Note January 30, 2015 TE Connectivity Ltd. (TEL-NYSE) Analyst Note Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 12/30/2012 Current Price (01/29/15) $67.57

More information

Cullen/Frost Bankers, Inc.

Cullen/Frost Bankers, Inc. December 26, 2014 Cullen/Frost Bankers, Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Neutral Date of Last Change 11/30/2001 Current Price (12/25/14) $70.74 Target Price $74.00

More information

Itron, Inc. UNDERPERFORM ZACKS CONSENSUS ESTIMATES (ITRI-NASDAQ) SUMMARY

Itron, Inc. UNDERPERFORM ZACKS CONSENSUS ESTIMATES (ITRI-NASDAQ) SUMMARY February 13, 2015 Itron, Inc. Current Recommendation Prior Recommendation Neutral Date of Last Change 02/08/2015 Current Price (02/12/15) $35.87 Target Price $33.00 SUMMARY DATA UNDERPERFORM 52-Week High

More information

First Republic Bank NEUTRAL ZACKS CONSENSUS ESTIMATES (FRC-NYSE) SUMMARY

First Republic Bank NEUTRAL ZACKS CONSENSUS ESTIMATES (FRC-NYSE) SUMMARY March 06, 2015 First Republic Bank Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Neutral Date of Last Change 04/14/2011 Current Price (03/05/15) $57.70 Target Price $61.00 52-Week High

More information

Jones Lang LaSalle Inc.

Jones Lang LaSalle Inc. February 13, 2015 Jones Lang LaSalle Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 11/07/2013 Current Price (02/12/15) $160.97 Target Price $169.00

More information

SVB Financial Group NEUTRAL ZACKS CONSENSUS ESTIMATES (SIVB-NASDAQ) SUMMARY

SVB Financial Group NEUTRAL ZACKS CONSENSUS ESTIMATES (SIVB-NASDAQ) SUMMARY January 02, 2015 SVB Financial Group Current Recommendation NEUTRAL Prior Recommendation Outperform Date of Last Change 01/02/2015 Current Price (01/01/15) $116.07 Target Price $122.00 SUMMARY DATA (SIVB-NASDAQ)

More information

Allscripts Healthcare Solutions, Inc.

Allscripts Healthcare Solutions, Inc. December 01, 2014 Allscripts Healthcare Solutions, Inc. Current Recommendation Prior Recommendation SUMMARY DATA NEUTRAL Outperform Date of Last Change 05/17/2012 Current Price (11/28/14) $12.02 Target

More information

Invesco Ltd. NEUTRAL ZACKS CONSENSUS ESTIMATES (IVZ-NYSE)

Invesco Ltd. NEUTRAL ZACKS CONSENSUS ESTIMATES (IVZ-NYSE) March 10, 2015 Invesco Ltd. (IVZ-NYSE) Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 10/03/2012 Current Price (03/09/15) $40.40 Target Price $42.00 52-Week

More information

Lincoln Electric Holdings Inc.

Lincoln Electric Holdings Inc. January 22, 2015 Lincoln Electric Holdings Inc. Current Recommendation Prior Recommendation Neutral Date of Last Change 01/22/2015 Current Price (01/21/15) $67.15 Target Price $81.00 OUTPERFORM SUMMARY

More information

Ultra Petroleum Corp.

Ultra Petroleum Corp. January 21, 2015 Ultra Petroleum Corp. Current Recommendation Prior Recommendation Neutral Date of Last Change 11/16/2014 Current Price (01/20/15) $13.57 Target Price $12.00 SUMMARY DATA UNDERPERFORM 52-Week

More information

athenahealth Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (ATHN-NASDAQ) SUMMARY

athenahealth Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (ATHN-NASDAQ) SUMMARY February 10, 2015 athenahealth Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 10/23/2011 Current Price (02/09/15) $136.28 Target Price $143.00 52-Week

More information

Cincinnati Financial Corp.

Cincinnati Financial Corp. February 06, 2015 Cincinnati Financial Corp. NEUTRAL Current Recommendation Prior Recommendation Outperform Date of Last Change 02/10/2014 Current Price (02/05/15) $51.89 Target Price $54.00 (CINF-NASDAQ)

More information

Suncor Energy UNDERPERFORM ZACKS CONSENSUS ESTIMATES (SU-NYSE)

Suncor Energy UNDERPERFORM ZACKS CONSENSUS ESTIMATES (SU-NYSE) March 11, 2015 Suncor Energy (SU-NYSE) Current Recommendation Prior Recommendation Neutral Date of Last Change 12/18/2014 Current Price (03/10/15) $28.03 Target Price $25.00 UNDERPERFORM SUMMARY Amid weak

More information

American Axle & Manufacturing Holdings Inc.

American Axle & Manufacturing Holdings Inc. January 22, 2015 American Axle & Manufacturing Holdings Inc. (AXL-NYSE) NEUTRAL Current Recommendation Prior Recommendation Underperform Date of Last Change 05/07/2013 Current Price (01/21/15) $24.14 Target

More information

Wells Fargo & Company

Wells Fargo & Company March 04, 2015 Wells Fargo & Company Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation N/A Date of Last Change 04/07/2000 Current Price (03/03/15) $55.45 Target Price $58.00 52-Week High

More information

Pentair plc NEUTRAL ZACKS CONSENSUS ESTIMATES (PNR-NYSE)

Pentair plc NEUTRAL ZACKS CONSENSUS ESTIMATES (PNR-NYSE) March 20, 2015 Pentair plc (PNR-NYSE) Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 01/12/2014 Current Price (03/19/15) $64.38 Target Price $68.00 52-Week

More information

Torchmark Corp. NEUTRAL ZACKS CONSENSUS ESTIMATES (TMK-NYSE) SUMMARY

Torchmark Corp. NEUTRAL ZACKS CONSENSUS ESTIMATES (TMK-NYSE) SUMMARY March 12, 2015 Torchmark Corp. Current Recommendation NEUTRAL Prior Recommendation Underperform Date of Last Change 07/20/2006 Current Price (03/11/15) $53.41 Target Price $56.00 SUMMARY DATA (TMK-NYSE)

More information

Transocean Ltd. NEUTRAL ZACKS CONSENSUS ESTIMATES (RIG-NYSE)

Transocean Ltd. NEUTRAL ZACKS CONSENSUS ESTIMATES (RIG-NYSE) January 14, 2015 Transocean Ltd. (RIG-NYSE) Current Recommendation Prior Recommendation Underperform Date of Last Change 02/14/2012 Current Price (01/13/15) $15.52 Target Price $16.00 NEUTRAL SUMMARY We

More information

Simon Property Group Inc. (SPG-NYSE) Analyst Note

Simon Property Group Inc. (SPG-NYSE) Analyst Note February 02, 2015 Simon Property Group Inc. (SPG-NYSE) Analyst Note NEUTRAL Current Recommendation Prior Recommendation Underperform Date of Last Change 09/11/2014 Current Price (01/30/15) $198.66 Target

More information

Avnet, Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (AVT-NYSE) SUMMARY

Avnet, Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (AVT-NYSE) SUMMARY January 30, 2015 Avnet, Inc. Current Recommendation Prior Recommendation SUMMARY DATA NEUTRAL Underperform Date of Last Change 04/02/2013 Current Price (01/29/15) $42.26 Target Price $44.00 52-Week High

More information

Dover Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (DOV-NYSE) SUMMARY

Dover Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (DOV-NYSE) SUMMARY March 09, 2015 Dover Corporation Current Recommendation Prior Recommendation Outperform Date of Last Change 01/11/2011 Current Price (03/06/15) $70.71 Target Price $74.00 NEUTRAL SUMMARY (DOV-NYSE) In

More information

CIT Group Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (CIT-NYSE)

CIT Group Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (CIT-NYSE) February 24, 2015 CIT Group Inc. (CIT-NYSE) Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 02/18/2015 Current Price (02/23/15) $46.13 Target Price $48.50

More information

Meritor, Inc. OUTPERFORM ZACKS CONSENSUS ESTIMATES (MTOR-NYSE)

Meritor, Inc. OUTPERFORM ZACKS CONSENSUS ESTIMATES (MTOR-NYSE) January 08, 2015 Meritor, Inc. Current Recommendation Prior Recommendation Neutral Date of Last Change 01/08/2015 Current Price (01/07/15) $15.10 Target Price $18.00 SUMMARY DATA OUTPERFORM 52-Week High

More information

Symmetry Medical, Inc.

Symmetry Medical, Inc. November 28, 2014 Symmetry Medical, Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 11/28/2014 Current Price (11/27/14) $9.11 Target Price $9.50 52-Week

More information

Mindray Medical International Limited

Mindray Medical International Limited January 22, 2015 Mindray Medical International Limited Current Recommendation NEUTRAL Prior Recommendation Outperform Date of Last Change 06/26/2014 Current Price (01/21/15) $26.73 Target Price $28.00

More information

Marathon Petroleum Corporation

Marathon Petroleum Corporation January 19, 2015 Marathon Petroleum Corporation (MPC-NYSE) Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 01/07/2014 Current Price (01/16/15) $77.56 Target

More information

Penske Automotive Group, Inc. (PAG-NYSE)

Penske Automotive Group, Inc. (PAG-NYSE) February 13, 2015 Penske Automotive Group, Inc. (PAG-NYSE) Current Recommendation Prior Recommendation Neutral Date of Last Change 07/16/2014 Current Price (02/12/15) $47.96 Target Price $58.00 SUMMARY

More information

Rockwell Automation Inc.

Rockwell Automation Inc. March 16, 2015 Rockwell Automation Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 07/31/2011 Current Price (03/13/15) $111.52 Target Price $117.00

More information

Terex Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (TEX-NYSE) SUMMARY

Terex Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (TEX-NYSE) SUMMARY February 19, 2015 Terex Corporation Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 01/04/2015 Current Price (02/18/15) $26.80 Target Price $28.00 52-Week

More information

Sallie Mae NEUTRAL ZACKS CONSENSUS ESTIMATES (SLM-NASDAQ)

Sallie Mae NEUTRAL ZACKS CONSENSUS ESTIMATES (SLM-NASDAQ) December 30, 2014 Sallie Mae (SLM-NASDAQ) Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 01/08/2013 Current Price (12/29/14) $10.32 Target Price $11.00

More information

Federated Investors, Inc.

Federated Investors, Inc. March 04, 2015 Federated Investors, Inc. Current Recommendation Prior Recommendation Underperform Date of Last Change 11/30/2014 Current Price (03/03/15) $33.52 Target Price $35.00 NEUTRAL SUMMARY (FII-NYSE)

More information

American Capital Agency Corp.

American Capital Agency Corp. January 15, 2015 American Capital Agency Corp. (AGNC-NASDAQ) Current Recommendation Prior Recommendation Neutral Date of Last Change 10/15/2014 Current Price (01/14/15) $21.53 Target Price $26.00 SUMMARY

More information

AGCO Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (AGCO-NYSE) SUMMARY

AGCO Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (AGCO-NYSE) SUMMARY February 05, 2015 AGCO Corporation Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 12/28/2014 Current Price (02/03/15) $48.96 Target Price $51.00 52-Week

More information

Companhia Paranaense De Energia

Companhia Paranaense De Energia January 21, 2015 Companhia Paranaense De Energia (ELP-NYSE) Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 01/21/2015 Current Price (01/20/15) $12.20

More information

CH Robinson Worldwide Inc.

CH Robinson Worldwide Inc. March 20, 2015 CH Robinson Worldwide Inc. Current Recommendation NEUTRAL Prior Recommendation Underperform Date of Last Change 08/22/2013 Current Price (03/19/15) $75.16 Target Price $79.00 SUMMARY DATA

More information

DENTSPLY International Inc.

DENTSPLY International Inc. March 18, 2015 DENTSPLY International Inc. Current Recommendation Prior Recommendation NEUTRAL Outperform Date of Last Change 02/19/2012 Current Price (03/17/15) $51.13 Target Price $54.00 SUMMARY (XRAY-NASDAQ)

More information

O'Reilly Automotive Inc.

O'Reilly Automotive Inc. February 05, 2015 O'Reilly Automotive Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 06/15/2011 Current Price (02/03/15) $193.28 Target Price $203.00

More information

Cabot Oil & Gas Corporation

Cabot Oil & Gas Corporation January 16, 2015 Cabot Oil & Gas Corporation Current Recommendation Prior Recommendation Neutral Date of Last Change 01/16/2015 Current Price (01/15/15) $28.78 Target Price $26.00 UNDERPERFORM SUMMARY

More information

Exelon Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (EXC-NYSE) SUMMARY

Exelon Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (EXC-NYSE) SUMMARY March 06, 2015 Exelon Corporation Current Recommendation Prior Recommendation NEUTRAL Underperform Date of Last Change 06/28/2009 Current Price (03/05/15) $32.97 Target Price $35.00 (EXC-NYSE) SUMMARY

More information

Equity Residential NEUTRAL ZACKS CONSENSUS ESTIMATES (EQR-NYSE) SUMMARY

Equity Residential NEUTRAL ZACKS CONSENSUS ESTIMATES (EQR-NYSE) SUMMARY March 16, 2015 Equity Residential Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 11/15/2009 Current Price (03/13/15) $77.02 Target Price $81.00 52-Week

More information

Armstrong World Industries, Inc.

Armstrong World Industries, Inc. December 11, 2014 Armstrong World Industries, Inc. (AWI-NYSE) Current Recommendation Prior Recommendation Neutral Date of Last Change 08/24/2014 Current Price (12/10/14) $47.71 Target Price $43.00 SUMMARY

More information

Prudential Financial Inc.

Prudential Financial Inc. February 06, 2015 Prudential Financial Inc. Current Recommendation NEUTRAL Prior Recommendation Outperform Date of Last Change 04/03/2014 Current Price (02/05/15) $75.32 Target Price $79.00 SUMMARY DATA

More information

IDEX Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (IEX-NYSE)

IDEX Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (IEX-NYSE) February 03, 2015 IDEX Corporation Current Recommendation Prior Recommendation Neutral Date of Last Change 08/01/2011 Current Price (02/02/15) $73.51 Target Price $77.00 NEUTRAL (IEX-NYSE) SUMMARY IDEX

More information

TC PipeLines, L.P. (TCP-NYSE)

TC PipeLines, L.P. (TCP-NYSE) February 16, 2015 TC PipeLines, L.P. (TCP-NYSE) NEUTRAL Current Recommendation Prior Recommendation Outperform Date of Last Change 09/23/2014 Current Price (02/13/15) $68.99 Target Price $72.00 SUMMARY

More information

SUMMARY. Risk Level *

SUMMARY. Risk Level * March 20, 2015 Aon Plc NEUTRAL Current Recommendation Prior Recommendation Outperform Date of Last Change 06/18/2012 Current Price (03/19/15) $98.91 Target Price $104.00 SUMMARY (AON-NYSE) Aon s fourth-quarter

More information

Sinopec Shanghai Petrochemical Co. Ltd.

Sinopec Shanghai Petrochemical Co. Ltd. March 18, 2013 Sinopec Shanghai Petrochemical Co. Ltd. (SHI-NYSE) NEUTRAL Current Recommendation Prior Recommendation Outperform Date of Last Change 06/10/2008 Current Price (03/15/13) $42.10 Target Price

More information

Healthways Inc. OUTPERFORM ZACKS CONSENSUS ESTIMATES (HWAY-NASDAQ) SUMMARY

Healthways Inc. OUTPERFORM ZACKS CONSENSUS ESTIMATES (HWAY-NASDAQ) SUMMARY October 28, 2014 Healthways Inc. Current Recommendation Prior Recommendation Earnings Update SUMMARY DATA Healthways report Q3 OUTPERFORM Neutral Date of Last Change 08/06/2014 Current Price (10/27/14)

More information

(PGR-NYSE) Risk Level *

(PGR-NYSE) Risk Level * March 18, 2015 Progressive Corp. Current Recommendation NEUTRAL Prior Recommendation Outperform Date of Last Change 05/19/2013 Current Price (03/17/15) $27.03 Target Price $28.00 SUMMARY DATA (PGR-NYSE)

More information

NuStar Energy, L.P. NEUTRAL ZACKS CONSENSUS ESTIMATES (NS-NYSE) SUMMARY

NuStar Energy, L.P. NEUTRAL ZACKS CONSENSUS ESTIMATES (NS-NYSE) SUMMARY March 13, 2015 NuStar Energy, L.P. Current Recommendation Prior Recommendation Underperform Date of Last Change 09/26/2013 Current Price (03/12/15) $60.71 Target Price $63.00 NEUTRAL SUMMARY (NS-NYSE)

More information

SUMMARY. Risk Level *

SUMMARY. Risk Level * February 26, 2015 The Home Depot, Inc. Current Recommendation Earnings Update: Home Depot Tops Q4 Earnings & Revenues, Guides FY15 SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change

More information

Cablevision Systems Corporation.

Cablevision Systems Corporation. January 14, 2015 Cablevision Systems Corporation. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 02/10/2014 Current Price (01/13/15) $20.00 Target Price

More information

Plum Creek Timber Co. Inc.

Plum Creek Timber Co. Inc. February 19, 2015 Plum Creek Timber Co. Inc. Current Recommendation Prior Recommendation Underperform Date of Last Change 11/23/2014 Current Price (02/18/15) $43.04 Target Price $45.00 NEUTRAL (PCL-NYSE)

More information

HSBC Holdings plc ADR (HSBC-NYSE)

HSBC Holdings plc ADR (HSBC-NYSE) February 24, 2015 HSBC Holdings plc ADR (HSBC-NYSE) Analyst Note NEUTRAL Current Recommendation Prior Recommendation Outperform Date of Last Change 12/21/2014 Current Price (02/23/15) $44.68 Target Price

More information

CONSOL Energy Inc. (CNX-NYSE)

CONSOL Energy Inc. (CNX-NYSE) March 17, 2015 CONSOL Energy Inc. (CNX-NYSE) Current Recommendation NEUTRAL Prior Recommendation Underperform Date of Last Change 08/20/2013 Current Price (03/16/15) $27.02 Target Price $28.00 SUMMARY

More information

Bed Bath & Beyond Inc.

Bed Bath & Beyond Inc. January 21, 2015 Bed Bath & Beyond Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 11/23/2009 Current Price (01/20/15) $73.31 Target Price $77.00 52-Week

More information

McDermott International Inc.

McDermott International Inc. January 12, 2015 McDermott International Inc. Current Recommendation NEUTRAL Prior Recommendation Underperform Date of Last Change 03/04/2013 Current Price (01/09/15) $2.85 Target Price $3.00 SUMMARY DATA

More information

Liberty Interactive Corporation

Liberty Interactive Corporation September 11, 2014 Liberty Interactive Corporation (LINTA-NASDAQ) Current Recommendation Prior Recommendation Neutral Date of Last Change 09/11/2014 Current Price (09/10/14) $29.41 Target Price $27.00

More information

The Tjx Companies Inc

The Tjx Companies Inc February 26, 2015 The Tjx Companies Inc Current Recommendation Prior Recommendation Underperform Date of Last Change 04/29/2010 Current Price (02/25/15) $69.38 Target Price $73.00 NEUTRAL SUMMARY (TJX-NYSE)

More information

Genworth Financial Inc.

Genworth Financial Inc. February 12, 2015 Genworth Financial Inc. Current Recommendation Prior Recommendation Neutral Date of Last Change 08/22/2014 Current Price (02/11/15) $8.33 Target Price $7.50 SUMMARY DATA UNDERPERFORM

More information

BorgWarner Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (BWA-NYSE)

BorgWarner Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (BWA-NYSE) February 13, 2015 BorgWarner Inc. Current Recommendation Prior Recommendation Underperform Date of Last Change 03/24/2013 Current Price (02/12/15) $61.38 Target Price $64.00 NEUTRAL (BWA-NYSE) SUMMARY

More information

CONMED Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (CNMD-NASDAQ) SUMMARY

CONMED Corporation NEUTRAL ZACKS CONSENSUS ESTIMATES (CNMD-NASDAQ) SUMMARY January 29, 2015 CONMED Corporation Current Recommendation NEUTRAL Prior Recommendation Underperform Date of Last Change 11/21/2012 Current Price (01/28/15) $47.14 Target Price $49.00 Earnings Update-

More information

Kirkland s Inc OUTPERFORM ZACKS CONSENSUS ESTIMATES (KIRK-NASDAQ) SUMMARY

Kirkland s Inc OUTPERFORM ZACKS CONSENSUS ESTIMATES (KIRK-NASDAQ) SUMMARY February 09, 2015 Kirkland s Inc (KIRK-NASDAQ) Current Recommendation Prior Recommendation Neutral Date of Last Change 02/09/2015 Current Price (02/06/15) $25.66 Target Price $31.00 OUTPERFORM SUMMARY

More information

Big Lots Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (BIG-NYSE) SUMMARY

Big Lots Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (BIG-NYSE) SUMMARY March 13, 2015 Big Lots Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 03/24/2014 Current Price (03/11/15) $49.95 Target Price $52.00 52-Week High

More information

Precision Castparts Corp.

Precision Castparts Corp. February 19, 2015 Precision Castparts Corp. Current Recommendation Prior Recommendation Neutral Date of Last Change 02/19/2015 Current Price (02/18/15) $210.97 Target Price $192.00 UNDERPERFORM (PCP-NYSE)

More information

The PNC Financial Services Group, Inc.

The PNC Financial Services Group, Inc. February 16, 2015 The PNC Financial Services Group, Inc. (PNC-NYSE) Current Recommendation Prior Recommendation Outperform Date of Last Change 05/04/2010 Current Price (02/13/15) $92.38 Target Price $97.00

More information

Citrix Systems Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (CTXS-NASDAQ) SUMMARY

Citrix Systems Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (CTXS-NASDAQ) SUMMARY January 13, 2015 Citrix Systems Inc. Current Recommendation Prior Recommendation Outperform Date of Last Change 7/09/2014 Current Price (01/12/15) $61.15 Target Price $64.00 NEUTRAL SUMMARY (CTXS-NASDAQ)

More information

Hibbett Sports, Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (HIBB-NASDAQ)

Hibbett Sports, Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (HIBB-NASDAQ) December 12, 2014 Hibbett Sports, Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 06/17/2014 Current Price (12/11/14) $48.16 Target Price $51.00 52-Week

More information

Health Care REIT Inc.

Health Care REIT Inc. January 05, 2015 Health Care REIT Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 07/20/2004 Current Price (01/02/15) $76.95 Target Price $81.00 52-Week

More information

Magna International Inc.

Magna International Inc. February 26, 2015 Magna International Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 07/09/2014 Current Price (02/25/15) $110.01 Target Price $116.00

More information

Hudson City Bancorp, Inc.

Hudson City Bancorp, Inc. March 20, 2015 Hudson City Bancorp, Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 03/20/2015 Current Price (03/19/15) $10.31 Target Price $11.00 52-Week

More information

Deere & Company NEUTRAL ZACKS CONSENSUS ESTIMATES (DE-NYSE)

Deere & Company NEUTRAL ZACKS CONSENSUS ESTIMATES (DE-NYSE) February 13, 2015 Deere & Company Current Recommendation Prior Recommendation Outperform Date of Last Change 12/09/2010 Current Price (02/12/15) $89.37 Target Price $94.00 NEUTRAL (DE-NYSE) SUMMARY Deere

More information

Avon Products Inc. UNDERPERFORM ZACKS CONSENSUS ESTIMATES (AVP-NYSE)

Avon Products Inc. UNDERPERFORM ZACKS CONSENSUS ESTIMATES (AVP-NYSE) February 19, 2015 Avon Products Inc. Current Recommendation Prior Recommendation Neutral Date of Last Change 02/19/2015 Current Price (02/18/15) $9.10 Target Price $8.25 SUMMARY DATA UNDERPERFORM 52-Week

More information

Interactive Brokers Group, Inc.

Interactive Brokers Group, Inc. January 06, 2015 Interactive Brokers Group, Inc. (IBKR-NASDAQ) Current Recommendation NEUTRAL Prior Recommendation Outperform Date of Last Change 07/08/2014 Current Price (01/05/15) $28.88 Target Price

More information

(MOS-NYSE) Risk Level *

(MOS-NYSE) Risk Level * March 09, 2015 The Mosaic Company Current Recommendation Prior Recommendation Neutral Date of Last Change 03/09/2015 Current Price (03/06/15) $49.03 Target Price $59.00 OUTPERFORM (MOS-NYSE) SUMMARY We

More information

Canadian Natural Resources Ltd.

Canadian Natural Resources Ltd. September 11, 2009 Canadian Natural Resources Ltd. SUMMARY DATA NEUTRAL Current Recommendation Prior Recommendation OUTPERFORM Date of Last Change 08/18/2009 Current Price (09/10/09) $62.91 Target Price

More information

Zoetis Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (ZTS-NYSE) SUMMARY. Revenue Estimates (In millions of $) Q1 Q2 Q3 Q4 Year (Mar) (Jun) (Sep) (Dec) (Dec)

Zoetis Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (ZTS-NYSE) SUMMARY. Revenue Estimates (In millions of $) Q1 Q2 Q3 Q4 Year (Mar) (Jun) (Sep) (Dec) (Dec) March 06, 2015 Zoetis Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 06/03/2014 Current Price (03/05/15) $46.46 Target Price $49.00 52-Week High

More information

Canadian Natural Resources Ltd.

Canadian Natural Resources Ltd. March 12, 2015 Canadian Natural Resources Ltd. (CNQ-NYSE) Current Recommendation Prior Recommendation Underperform Date of Last Change 06/30/2013 Current Price (03/11/15) $28.82 Target Price $30.00 NEUTRAL

More information

Charter Communications Inc.

Charter Communications Inc. December 12, 2014 Charter Communications Inc. Current Recommendation NEUTRAL Prior Recommendation Underperform Date of Last Change 02/26/2014 Current Price (12/11/14) $164.16 Target Price $172.00 SUMMARY

More information

KB Home UNDERPERFORM ZACKS CONSENSUS ESTIMATES (KBH-NYSE)

KB Home UNDERPERFORM ZACKS CONSENSUS ESTIMATES (KBH-NYSE) February 11, 2015 KB Home (KBH-NYSE) Current Recommendation Prior Recommendation Neutral Date of Last Change 02/11/2015 Current Price (02/10/15) $13.61 Target Price $12.00 UNDERPERFORM SUMMARY We are downgrading

More information

SUMMARY. Risk Level *

SUMMARY. Risk Level * January 09, 2015 Fred s Inc (FRED-NASDAQ) Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 07/17/2014 Current Price (01/08/15) $17.13 Target Price $18.00

More information

Osiris Therapeutics, Inc.

Osiris Therapeutics, Inc. March 17, 2015 Osiris Therapeutics, Inc. NEUTRAL Current Recommendation Prior Recommendation Outperform Date of Last Change 08/31/2014 Current Price (03/16/15) $17.48 Target Price $18.00 (OSIR-NASDAQ)

More information

SUMMARY. Risk Level *

SUMMARY. Risk Level * February 13, 2015 NetApp, Inc. Current Recommendation Earnings Update: NetApp Reports Q3 Results SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 08/19/2013 Current Price (02/12/15)

More information

Legg Mason Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (LM-NYSE)

Legg Mason Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (LM-NYSE) March 12, 2015 Legg Mason Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Underperform Date of Last Change 09/22/2013 Current Price (03/11/15) $55.03 Target Price $58.00 52-Week High

More information

The Cheesecake Factory Incorporated

The Cheesecake Factory Incorporated March 20, 2015 The Cheesecake Factory Incorporated (CAKE-NASDAQ) Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 01/12/2011 Current Price (03/19/15) $48.82

More information

Molina Healthcare Inc.

Molina Healthcare Inc. February 10, 2015 Molina Healthcare Inc. Current Recommendation Prior Recommendation Outperform Date of Last Change 08/24/2014 Current Price (02/09/15) $50.48 Target Price $53.00 NEUTRAL SUMMARY (MOH-NYSE)

More information

Dillard s Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (DDS-NYSE)

Dillard s Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (DDS-NYSE) March 12, 2015 Dillard s Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 01/05/2014 Current Price (03/11/15) $130.28 Target Price $137.00 52-Week High

More information

United Parcel Service Inc.

United Parcel Service Inc. December 25, 2014 United Parcel Service Inc. Current Recommendation SUMMARY DATA NEUTRAL Prior Recommendation Outperform Date of Last Change 02/04/2009 Current Price (12/24/14) $112.41 Target Price $118.00

More information

BancorpSouth, Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (BXS-NYSE) SUMMARY

BancorpSouth, Inc. NEUTRAL ZACKS CONSENSUS ESTIMATES (BXS-NYSE) SUMMARY December 22, 2014 BancorpSouth, Inc. Current Recommendation Prior Recommendation Outperform Date of Last Change 09/23/2013 Current Price (12/19/14) $22.12 Target Price $23.00 NEUTRAL SUMMARY (BXS-NYSE)

More information

Devon Energy Corporation (DVN-NYSE)

Devon Energy Corporation (DVN-NYSE) November 24, 2014 Devon Energy Corporation (DVN-NYSE) Current Recommendation Prior Recommendation SUMMARY DATA NEUTRAL Underperform Date of Last Change 01/10/2013 Current Price (11/21/14) $67.20 Target

More information