All posts by Brian Donovan

Brian is a Chartered Business Valuator (CBV) and President of Patchell Brook Equity Analytics Inc. whose flagship product is Stockcalc.com. Stockcalc is a collaborative website for retail investors focused on fundamental valuation.

Westridge Resources (WST.H:TSX) and Razor Energy (RZE:TSX) Are Biggest Stock Gainers YTD on TSX

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Biggest Stock Gainers Year to Date on TSX

Today we are looking at companies that have had the greatest percentage increase in share price year to date.

Top 25 Companies

Lists like these are always interesting to look at as they tell more than one story. Companies that are experiencing dramatic increases in share price can do so for a variety of reasons. These can include, the sector they are in has turned (such as companies in the commodities space or a new sector that has huge future potential), the company is in talks to be taken over, or the company has restructured and earnings are turning better than expected.

In this list we have selected the top 25 companies based on their percentage increase in share price year to date.

Today’s Data on TSX

Today’s data is for companies listed on the TSX Venture Exchange.

Symbol Name Total Return Period
WST.H Westridge Resources Inc 3000.000000 YTD
RZE Razor Energy Corp 983.333333 YTD
SCG SelectCore Ltd 850.000000 YTD
PYT Pyng Medical Corp 541.666667 YTD
MAP Maple Peak Investments Inc 540.000000 YTD
KRS Kairos Capital Corp 464.705882 YTD
ZON Zonte Metals Inc 370.588235 YTD
IVF.H Invictus Financial Inc 366.666667 YTD
AU Aurion Resources Ltd 352.631579 YTD
STA Sanatana Resources Inc 333.333333 YTD
RGD Reunion Gold Corp 285.714286 YTD
NXS Nexus Gold Corp 282.352941 YTD
PAM Power Americas Minerals Corp 271.428571 YTD
SG SG Spirit Gold Inc 267.741935 YTD
SVO.H Savoy Ventures Inc 263.636364 YTD
DGO Durango Resources Inc 260.000000 YTD
PGK PNG Gold Corp 250.000000 YTD
GN Gonzaga Resources Ltd 250.000000 YTD
MU.H Monster Uranium Corp 250.000000 YTD
SC.H Serrano Resources Ltd 250.000000 YTD
FGD First Global Data Ltd 244.444444 YTD
IEX.H Icon Exploration Inc 233.333333 YTD
ETV.H Evermount Ventures Inc 233.333333 YTD
RVV Revive Therapeutics Ltd 217.391304 YTD
MCG Mountain China Resorts (Holding) Ltd 200.000000 YTD

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

WST.H:TSX Westridge Resources

http://www.westridgeresources.com
Westridge Resources has None employees and is headquartered in Canada.
Westridge Resources Inc is a mineral exploration company. It is engaged in the acquisition, evaluation and exploration of mineral resource properties.

RZE:TSX Razor Energy

None
Razor Energy has None employees and is headquartered in Canada.
Razor Energy Corp, formerly Vector Resources Inc is a capital pool company.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Intelsat (I:NYS) and Seadrill Partners (SDLP:NYS) Trading at Less than Cash Value

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Trading at Less than Cash Value

Today we are looking at companies trading at less than cash value meaning companies whose current share price is less than the cash per share on the balance sheet. We also show the value of cash net debt per share to show how much cash per share would be left if the debt was paid off.

What this Means…

Companies can have more cash per share than the actual share price for a number of reasons including they just raised capital, are in industries that experience high burn rates and will eat through the cash quickly or if there is a lot of uncertainty about the future of the company. Companies earning a positive net income will have a P/E greater than 0 and are worth exploring in more detail.

Today’s Data on NYSE

Today’s data is for companies listed on the New York Stock Exchange.

Symbol Name Close Price Shares Outstanding P/E P/B Cash per Share Net Cash per Share
INFY Infosys Ltd 15.210000 2285651730 16.1809 3.6048 114.25 1.98
MOH Molina Healthcare Inc 48.830000 56821000 21.4167 1.6408 50.02 21.24
DYN Dynegy Inc 8.480000 131004630 None 0.6134 11.13 -61.56
SDRL Seadrill Ltd 1.980000 504444280 None 0.1081 2.48 -17.74
I Intelsat SA 4.690000 117800000 None None 8.13 -120.43
SDLP Seadrill Partners LLC 5.010000 91821600 1.6694 0.4189 8.11 -31.51
SD SandRidge Energy Inc 18.860000 20575551 None None 31.72 30.82
HOV Hovnanian Enterprises Inc 2.330000 147361062 None None 2.35 -10.46
XIN Xinyuan Real Estate Co Ltd 4.950000 66708803 4.3421 0.3516 13.91 -20.29
JP Jupai Holdings Ltd 9.200000 29931126 18.1944 1.2975 31.81 None
CGG CGG 8.978000 22133149 0.1402 0.1443 27.27 -110.86
HOS Hornbeck Offshore Services Inc 4.400000 36374365 None 0.1123 6.20 -23.50
AOI Alliance One International Inc 13.750000 9734658 3.1755 0.6537 30.46 -127.50
MFCB MFC Bancorp Ltd 2.020000 63142272 1.2911 0.4935 3.78 -3.09
MN Manning & Napier Inc 6.450000 15003880 9.6269 0.5795 8.25 5.41
UTI Universal Technical Institute Inc 3.430000 24681754 None 0.6311 4.17 2.39
BCEI Bonanza Creek Energy Inc 1.620000 49669026 None 0.9494 2.69 -17.90
TDW Tidewater Inc 1.340000 47068450 None 0.0363 13.81 -29.45
PACD Pacific Drilling SA 2.760000 21183000 None 0.0217 17.52 -125.08
CGA China Green Agriculture Inc 1.390000 38535161 2.0145 0.1455 3.03 2.74
NADL North Atlantic Drilling Ltd 1.960000 24114232 None 0.1208 3.57 -93.59
SGY Stone Energy Corp 6.580000 5690253 None None 32.05 -216.75
WMLP Westmoreland Resource Partners LP 4.990000 1221060 None None 7.26 -251.46

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

I:NYS Intelsat

http://www.intelsat.com
Intelsat has 1069 employees and is headquartered in Luxembourg.
Intelsat SA provides satellite communication services and ground facilities related to the satellite operations and control, and teleport services.

SDLP:NYS Seadrill Partners

http://www.seadrillpartners.com
Seadrill Partners has 1507 employees and is headquartered in United Kingdom.
Seadrill Partners LLC is engaged in owing, operating and acquiring offshore drilling units. Its drilling rigs are under long-term contracts with oil companies such as Chevron, Total, BP and ExxonMobil.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Exxon Mobil (XOM:NYS) and Schlumberger (SLB:NYS) Upgraded

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/toppicks.aspx.

Upgraded Stocks on NYSE, NASDAQ, AMEX, TSE, and TSX

Today we are looking at companies whose share price has been upgraded by at least one analyst in the last few days.

Why Do Companies Get Upgraded?

Companies can get upgraded for a number of reasons, but primarily due to improved future earnings potential due to new contracts, new products, cost savings or restructuring.

In the list below you can see the number of analysts we have in the StockCalc database along with the number of buy-hold-sell on the company.

Today’s Data on NYSE, NASDAQ, AMEX, TSE, and TSX

Below we have today’s data for companies listed on all of the New York Stock Exchange, NASDAQ Stock Exchange, American Stock Exchange, Toronto Stock Exchange, and TSX Venture Exchange.

New York Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
XOM Exxon Mobil Corp 4 0 2 0 1 0 3.8571 3.7143 Outperform
SLB Schlumberger Ltd 7 0 2 0 0 0 4.5556 4.5000 Buy
MTU Mitsubishi UFJ Financial Group Inc 0 1 0 0 0 0 4.0000 3.0000 Outperform
CNQ Canadian Natural Resources Ltd 10 4 1 0 0 0 4.6000 4.5333 Buy
APA Apache Corp 2 0 6 1 0 0 3.3333 3.2222 Hold
PAGP Plains GP Holdings LP 2 0 1 0 0 0 4.3333 4.0000 Outperform
HES Hess Corp 3 0 3 0 0 0 4.0000 3.8333 Outperform
PNR Pentair PLC 4 0 2 0 0 0 4.3333 4.1429 Outperform
ALB Albemarle Corp 3 1 4 0 0 0 3.8750 3.7143 Outperform
IFF International Flavors & Fragrances Inc 3 1 3 0 0 0 4.0000 3.7143 Outperform
SLCA US Silica Holdings Inc 1 0 0 0 1 0 3.0000 2.3333 Hold
SWN Southwestern Energy Co 1 0 5 0 0 0 3.3333 3.1667 Hold
OAS Oasis Petroleum Inc 2 0 5 1 0 0 3.3750 3.2857 Hold
FMSA Fairmount Santrol Holdings Inc 1 0 0 0 1 0 3.0000 2.3333 Hold
HCLP Hi-Crush Partners LP 0 0 1 1 0 0 2.5000 2.3333 Underperform
AROC Archrock Inc 2 0 1 0 0 0 4.3333 4.0000 Outperform
EMES Emerge Energy Services LP 1 0 0 0 0 0 5.0000 3.0000 Buy
PN Patriot National Inc 1 0 1 0 0 0 4.0000 3.0000 Outperform
Toronto Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
CNQ Canadian Natural Resources Ltd 10 4 1 0 0 0 4.6000 4.5333 Buy
PSK PrairieSky Royalty Ltd 3 1 6 0 0 0 3.7000 3.5000 Outperform
VSN Veresen Inc 4 3 2 0 1 0 3.9000 3.8000 Outperform
EIF Exchange Income Corp 4 3 2 0 0 0 4.2222 4.1111 Outperform
ESI Ensign Energy Services Inc 2 0 7 0 0 0 3.4444 3.4000 Hold
CFW Calfrac Well Services Ltd 3 1 8 0 1 0 3.3846 3.3571 Hold
TOT Total Energy Services Inc 2 2 2 0 0 0 4.0000 3.8571 Outperform
SVY Savanna Energy Services Corp 3 1 2 0 1 0 3.7143 3.6250 Outperform
NAL Newalta Corp 1 2 1 0 0 0 4.0000 3.8000 Outperform
WRG Western Energy Services Corp 2 2 4 0 0 0 3.7500 3.6667 Outperform
NASDAQ
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
JAZZ Jazz Pharmaceuticals PLC 4 0 2 0 0 0 4.3333 4.2000 Outperform
COLM Columbia Sportswear Co 3 0 0 0 0 0 5.0000 4.3333 Buy

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

XOM:NYS Exxon Mobil

http://www.corporate.exxonmobil.com
Exxon Mobil has 72700 employees and is headquartered in United States.
Exxon Mobil Corp is engaged in exploration for, and production of, crude oil and natural gas. It is also engaged in manufacturing of petroleum products and transportation and sale of crude oil, natural gas and petroleum products.

SLB:NYS Schlumberger

http://www.slb.com
Schlumberger has 120000 employees and is headquartered in United States.
Schlumberger Ltd is a supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry. Its business segments are Reservoir Characterization Group, Drilling Group and Production Group.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Apple (AAPL:NAS) and HSBC Holdings (HSBC:NYS) Downgraded

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/toppicks.aspx.

Downgraded Stocks on NYSE, NASDAQ, AMEX, TSE, and TSX

Today we are looking at companies whose share price has been downgraded by at least one analyst in the last few days.

Why Do Companies Get Downgraded?

Companies can get downgraded for a number of reasons but primarily due to reduced future earnings potential due to loss of contracts, faultering product lines, increasing costs relative to revenue or financial risk.

In the list below you can see the number of analysts we have in the StockCalc database along with the number of buy-hold-sell on the company.

Today’s Data on NYSE, NASDAQ, AMEX, TSE, and TSX

Below we have today’s data for companies listed on all of the New York Stock Exchange, NASDAQ Stock Exchange, American Stock Exchange, Toronto Stock Exchange, and TSX Venture Exchange.

New York Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
HSBC HSBC Holdings PLC 1 0 3 0 2 0 2.6667 2.7143 Hold
MON Monsanto Co 3 1 2 0 0 0 4.1667 4.4000 Outperform
HAL Halliburton Co 8 0 0 1 0 0 4.6667 4.7000 Buy
CRH CRH PLC 4 0 4 0 0 0 4.0000 4.1429 Outperform
PHG Royal Philips NV 2 1 0 0 0 0 4.6667 4.7500 Buy
BHI Baker Hughes Inc 5 0 3 1 0 0 4.0000 4.1000 Outperform
HCN Welltower Inc 1 0 5 0 0 0 3.3333 3.5000 Hold
FMS Fresenius Medical Care AG & Co. KGaA 2 0 1 1 0 0 3.7500 4.0000 Outperform
ETE Energy Transfer Equity LP 3 0 1 1 0 0 4.0000 4.2000 Outperform
EFX Equifax Inc 9 3 0 1 0 0 4.5385 4.5714 Buy
AGR Avangrid Inc 1 0 2 0 0 0 3.6667 4.0000 Outperform
MBLY Mobileye NV 3 0 1 0 0 0 4.5000 4.7500 Outperform
FLR Fluor Corp 1 0 5 0 0 0 3.3333 3.4000 Hold
HP Helmerich & Payne Inc 2 0 4 1 0 0 3.4286 3.6250 Hold
WFT Weatherford International PLC 7 0 2 0 0 0 4.5556 4.6000 Buy
CLB Core Laboratories NV 1 0 4 0 0 0 3.4000 3.6667 Hold
NBR Nabors Industries Ltd 5 0 1 0 0 0 4.6667 4.7143 Buy
RBA Ritchie Bros Auctioneers Inc 2 2 5 1 1 0 3.2727 3.3636 Hold
VMI Valmont Industries Inc 1 0 2 0 0 0 3.6667 4.0000 Outperform
CLH Clean Harbors Inc 1 0 2 1 0 0 3.2500 3.5000 Hold
FET Forum Energy Technologies Inc 2 0 1 0 0 0 4.3333 4.5000 Outperform
PDS Precision Drilling Corp 6 2 5 1 0 0 3.9286 4.0625 Outperform
HK Halcon Resources Corp 1 0 0 0 1 0 3.0000 3.5000 Hold
PES Pioneer Energy Services Corp 1 0 1 0 0 0 4.0000 4.3333 Outperform
PKD Parker Drilling Co 1 0 1 0 0 0 4.0000 4.3333 Outperform
Toronto Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
RBA Ritchie Bros Auctioneers Inc 2 2 5 1 1 0 3.2727 3.3636 Hold
SCL Shawcor Ltd 3 3 1 0 0 0 4.2857 4.3750 Outperform
BEI.UN Boardwalk Real Estate Investment Trust 0 2 6 0 1 0 3.0000 3.2222 Hold
PD Precision Drilling Corp 6 2 5 1 0 0 3.9286 4.0625 Outperform
MTL Mullen Group Ltd 1 4 5 0 0 0 3.6000 3.7273 Outperform
SES Secure Energy Services Inc 7 4 1 0 0 0 4.5000 4.5385 Outperform
TCW Trican Well Service Ltd 4 4 5 0 0 0 3.9231 3.9286 Outperform
TDG Trinidad Drilling Ltd 4 4 5 0 0 0 3.9231 4.0000 Outperform
FRC Canyon Services Group Inc 6 4 1 0 0 0 4.4545 4.5000 Outperform
TKO Taseko Mines Ltd 0 1 6 0 0 0 3.1429 3.2857 Hold
HGN Halogen Software Inc 0 0 1 0 1 0 2.0000 3.6667 Underperform
HNL Horizon North Logistics Inc 2 2 1 0 0 0 4.2000 4.3333 Outperform
ESN Essential Energy Services Ltd 2 1 3 0 0 0 3.8333 4.0000 Outperform
American Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
TGB Taseko Mines Ltd 0 1 6 0 0 0 3.1429 3.2857 Hold
NASDAQ
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
AAPL Apple Inc 7 0 3 0 0 0 4.4000 4.4545 Outperform
TSLA Tesla Inc 0 0 4 1 1 0 2.5000 2.6667 Underperform
CTRP Ctrip.com International Ltd 2 0 2 0 0 0 4.0000 4.2500 Outperform
LSXMB Liberty SiriusXM Group 0 0 1 0 0 0 3.0000 4.0000 Hold
LSXMA Liberty SiriusXM Group 0 0 1 0 0 0 3.0000 4.0000 Hold
LSXMK Liberty SiriusXM Group 0 0 1 0 0 0 3.0000 4.0000 Hold
NCLH Norwegian Cruise Line Holdings Ltd 0 0 5 0 0 0 3.0000 3.2000 Hold
PTEN Patterson-UTI Energy Inc 6 0 0 0 1 0 4.4286 4.5000 Outperform
CRTO Criteo SA 3 0 1 0 0 0 4.5000 4.7500 Outperform
FIVE Five Below Inc 2 0 1 0 0 0 4.3333 4.5000 Outperform
DBVT DBV Technologies SA 0 0 1 0 0 0 3.0000 4.0000 Hold
DEPO Depomed Inc 1 0 3 0 0 0 3.5000 3.6667 Hold

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

AAPL:NAS Apple

http://www.apple.com
Apple has 116000 employees and is headquartered in United States.
Apple Inc designs, manufactures, & markets mobile communication & media devices, personal computers, & portable digital music players, & sells a variety of related software, services, accessories, networking solutions, & third-party digital content.

HSBC:NYS HSBC Holdings

http://www.hsbc.com
HSBC Holdings has 241000 employees and is headquartered in United Kingdom.
HSBC Holdings PLC provides banking and financial services through four segments namely Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets and Global Private Banking.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

National Bank of Canada (NA:TSE) and Canadian Tire Corp (CTC:TSE) Are Fully Valued

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Fully Valued Stocks on TSE

Today we are looking at companies that are considered fully valued based on the Analyst data in the StockCalc database.

In this table we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSE

Today’s data is for companies listed on the Toronto Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
NA National Bank of Canada 2017 58.700000 58.3000 CAD 10
CTC Canadian Tire Corp Ltd 2017 205.000000 173.4444 CAD 9
EMP.A Empire Co Ltd 2018 17.770000 16.2857 CAD 7
PJC.A The Jean Coutu Group (PJC) Inc 2018 20.150000 19.5714 CAD 7
TIH Toromont Industries Ltd 2017 46.860000 43.5000 CAD 8
D.UN Dream Office Real Estate Investment Trust 2017 20.030000 18.6429 CAD 7
WTE Westshore Terminals Investment Corp 2017 28.160000 26.8000 CAD 5
BAD Badger Daylighting Ltd 2017 34.990000 33.8000 CAD 5
NVU.UN Northview Apartment Real Estate Investment Trust 2017 21.860000 20.5714 CAD 7
EXE Extendicare Inc 2017 10.550000 9.8750 CAD 4
CMG Computer Modelling Group Ltd 2018 10.290000 9.1875 CAD 8
XSR Sirius XM Canada Holdings Inc 2017 5.240000 4.7400 CAD 5
AVO Avigilon Corp 2017 14.970000 14.4375 CAD 8
AW.UN A&W Revenue Royalties Income Fund 2017 40.100000 38.0000 CAD 1
BPF.UN Boston Pizza Royalties Income Fund 2017 23.000000 18.5000 CAD 1
RET.A Reitmans (Canada) Ltd 2017 6.230000 6.0000 CAD 1
MKP MCAN Mortgage Corp 2017 14.940000 14.7500 CAD 2
FC Firm Capital Mortgage Investment Corp 2017 14.230000 13.5000 CAD 1
GH Gamehost Inc 2017 11.350000 10.8000 CAD 1
SRV.UN SIR Royalty Income Fund 2017 14.820000 13.5000 CAD 1
NXJ NexJ Systems Inc 2017 4.720000 4.5000 CAD 1
MOGO Mogo Finance Technology Inc 2017 3.450000 2.6667 CAD 3
DCF Difference Capital Financial Inc 2017 4.410000 2.1000 CAD 1
PNC.B Postmedia Network Canada Corp 2017 0.650000 0.2000 CAD 1
PNC.A Postmedia Network Canada Corp 2017 0.900000 0.2000 CAD 1

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

NA:TSE National Bank of Canada

http://www.nbc.ca
National Bank of Canada has 21701 employees and is headquartered in Canada.
National Bank of Canada provides financial services to consumers, small and medium-sized enterprises, and large corporations. It operates through three segments; Personal and Commercial, Wealth Management and Financial Markets.

CTC:TSE Canadian Tire Corp

http://www.canadiantire.ca
Canadian Tire Corp has 29220 employees and is headquartered in Canada.
Canadian Tire Corp Ltd is engaged in the retail business. Its business is conducted through a number of banners, including Canadian Tire, Canadian Tire Gas, Mark’s, PartSource, and various FGL Sports banners.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Pioneer Natural Resources (PXD:NYS) and AutoZone (AZO:NYS) Are Undervalued

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Undervalued Stocks on NYSE

Today we are looking at companies that are considered undervalued based on the Analyst data in the StockCalc database.

In the table below we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on NYSE

Today’s data is for companies listed on the New York Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
UNH UnitedHealth Group Inc 2017 160.570000 188.1667 USD 6
BLK BlackRock Inc 2017 390.710000 426.0000 USD 3
SPG Simon Property Group Inc 2017 184.700000 212.5000 USD 6
PXD Pioneer Natural Resources Co 2017 188.130000 218.0000 USD 9
AZO AutoZone Inc 2017 735.330000 873.0000 USD 5
EW Edwards Lifesciences Corp 2017 92.210000 118.1000 USD 5
CXO Concho Resources Inc 2017 131.700000 157.1667 USD 6
MHK Mohawk Industries Inc 2017 225.050000 252.5000 USD 2
BAP Credicorp Ltd 2017 170.900000 589.0400 USD 1
AGU Agrium Inc 2017 102.990000 137.6622 CAD 8
WHR Whirlpool Corp 2017 180.870000 207.5000 USD 2
TDG TransDigm Group Inc 2017 255.460000 301.5000 USD 4
MLM Martin Marietta Materials Inc 2017 218.940000 245.0000 USD 2
ANTX Anthem Inc 2017 49.530000 177.8333 USD 6
FNV Franco-Nevada Corp 2017 66.770000 98.9197 CAD 10
AAP Advance Auto Parts Inc 2017 159.680000 192.0000 USD 4
GSPRN Goldman Sachs Group Inc 2017 26.490000 249.1429 USD 7
DPZ Domino’s Pizza Inc 2017 183.000000 221.0000 USD 1
PVH PVH Corp 2018 91.390000 123.3333 USD 3
HLF Herbalife Ltd 2017 60.740000 90.0000 USD 1
SIG Signet Jewelers Ltd 2018 73.610000 100.0000 USD 1
HHC The Howard Hughes Corp 2017 115.880000 195.0000 USD 1
MSG The Madison Square Garden Co 2017 179.280000 218.0000 USD 1
BAS Basic Energy Services Inc 2017 41.900000 1140.2510 USD 1
XXXX The WhiteWave Foods Co 2017 20.180000 56.1250 USD 4

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

PXD:NYS Pioneer Natural Resources

http://www.pxd.com
Pioneer Natural Resources has 3604 employees and is headquartered in United States.
Pioneer Natural Resources Co is an independent oil and gas exploration and production company with operations in the United States.

AZO:NYS AutoZone

http://www.autozone.com
AutoZone has 84000 employees and is headquartered in United States.
AutoZone Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company’s store carry an extensive product line for cars, sport utility vehicles, vans and light trucks.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Devon Energy (DVN:NYS) and CGI Group (GIB.A:TSE) Upgraded

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/toppicks.aspx.

Upgraded Stocks on NYSE, NASDAQ, AMEX, TSE, and TSX

Today we are looking at companies whose share price has been upgraded by at least one analyst in the last few days.

Why Do Companies Get Upgraded?

Companies can get upgraded for a number of reasons, but primarily due to improved future earnings potential due to new contracts, new products, cost savings or restructuring.

In the list below you can see the number of analysts we have in the StockCalc database along with the number of buy-hold-sell on the company.

Today’s Data on NYSE, NASDAQ, AMEX, TSE, and TSX

Below we have today’s data for companies listed on all of the New York Stock Exchange, NASDAQ Stock Exchange, American Stock Exchange, Toronto Stock Exchange, and TSX Venture Exchange.

New York Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
DVN Devon Energy Corp 7 0 1 1 0 0 4.4444 4.2222 Outperform
GIB CGI Group Inc 8 5 1 1 1 0 4.1250 4.0667 Outperform
PRGO Perrigo Co PLC 3 0 3 0 0 0 4.0000 3.8000 Outperform
AAP Advance Auto Parts Inc 5 1 4 0 0 0 4.1000 4.0000 Outperform
CVE Cenovus Energy Inc 5 4 6 0 0 0 3.9333 3.8000 Outperform
PNR Pentair PLC 4 0 3 0 0 0 4.1429 4.0000 Outperform
IHG InterContinental Hotels Group PLC 0 0 3 0 1 1 2.0000 1.7500 Underperform
RRC Range Resources Corp 3 0 3 0 0 0 4.0000 3.8571 Outperform
FLS Flowserve Corp 2 0 5 0 1 0 3.2500 3.0000 Hold
NCR NCR Corp 2 0 1 0 0 0 4.3333 4.0000 Outperform
DCP DCP Midstream LP 1 0 2 0 0 0 3.6667 3.0000 Outperform
MNK Mallinckrodt PLC 4 1 0 0 0 0 4.8000 4.7500 Buy
UNVR Univar Inc 1 0 1 0 0 0 4.0000 3.0000 Outperform
RBA Ritchie Bros Auctioneers Inc 2 2 6 0 1 0 3.3636 3.3333 Hold
STN Stantec Inc 2 1 7 0 0 0 3.5000 3.4545 Hold
NE Noble Corp PLC 2 0 5 0 2 0 3.0000 2.7778 Hold
PDS Precision Drilling Corp 8 2 5 1 0 0 4.0625 3.9375 Outperform
Toronto Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
GIB.A CGI Group Inc 8 5 1 1 1 0 4.1250 4.0667 Outperform
CVE Cenovus Energy Inc 5 4 6 0 0 0 3.9333 3.8000 Outperform
FM First Quantum Minerals Ltd 8 3 1 0 0 0 4.5833 4.5455 Buy
ONEX Onex Corp 2 2 1 0 0 0 4.2000 4.0000 Outperform
RBA Ritchie Bros Auctioneers Inc 2 2 6 0 1 0 3.3636 3.3333 Hold
WSP WSP Global Inc 2 4 3 0 0 0 3.8889 3.8000 Outperform
STN Stantec Inc 2 1 7 0 0 0 3.5000 3.4545 Hold
TIH Toromont Industries Ltd 0 2 6 0 0 0 3.2500 3.2222 Hold
NFI New Flyer Industries Inc 4 1 0 0 0 0 4.8000 4.5000 Buy
PD Precision Drilling Corp 8 2 5 1 0 0 4.0625 3.9375 Outperform
RUS Russel Metals Inc 0 2 2 0 0 0 3.5000 3.4000 Hold
MAG MAG Silver Corp 5 3 2 0 0 0 4.3000 4.2222 Outperform
ESI Ensign Energy Services Inc 2 0 8 0 0 0 3.4000 3.2000 Hold
ARE Aecon Group Inc 6 1 2 0 0 0 4.4444 4.3000 Outperform
TDG Trinidad Drilling Ltd 5 4 5 0 0 0 4.0000 3.8571 Outperform
CFW Calfrac Well Services Ltd 3 1 9 0 1 0 3.3571 3.2143 Hold
GS Gluskin Sheff & Associates Inc 0 1 3 0 0 0 3.2500 3.2000 Hold
AGF.B AGF Management Ltd 0 0 3 0 2 0 2.2000 2.0000 Underperform
WJX Wajax Corp 0 1 3 0 0 0 3.2500 3.2000 Hold
TMB Tembec Inc 1 1 0 0 0 0 4.5000 3.3333 Outperform
WRG Western Energy Services Corp 2 2 5 0 0 0 3.6667 3.4444 Outperform
CMMC Copper Mountain Mining Corp 2 2 2 0 0 0 4.0000 3.2000 Outperform
American Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
MAG MAG Silver Corp 5 3 2 0 0 0 4.3000 4.2222 Outperform
NASDAQ
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
CTAS Cintas Corp 0 0 5 0 1 0 2.6667 2.6000 Hold
HDS HD Supply Holdings Inc 3 0 1 1 0 0 4.0000 3.7500 Outperform
EXAS Exact Sciences Corp 3 0 0 0 0 0 5.0000 4.3333 Buy
AMNB American National Bankshares Inc 1 0 0 0 1 0 3.0000 1.0000 Hold
SELF Global Self Storage Inc 1 0 0 0 0 0 5.0000 0.0000 Buy

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

DVN:NYS Devon Energy

http://www.devonenergy.com
Devon Energy has 5000 employees and is headquartered in United States.
Devon Energy Corporation is an independent energy company engaged in the exploration, development and production of oil, natural gas and NGLs.

GIB.A:TSE CGI Group

http://www.cgi.com
CGI Group has 68000 employees and is headquartered in Canada.
CGI Group Inc manages information technology services. The Company’s services include the management of IT and business functions, systems integration and consulting, as well as the sale of software solutions.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Cheniere Energy (LNG:ASE) and Independence Realty Trust (IRT:ASE) Are Fully Valued

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Fully Valued Stocks on AMEX

Today we are looking at companies that are considered fully valued based on the Analyst data in the StockCalc database.

In this table we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on AMEX

Today’s data is for companies listed on the American Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
LNG Cheniere Energy Inc 2017 47.220000 45.0000 USD 1
IRT Independence Realty Trust Inc 2017 9.170000 9.0000 USD 2
STS Supreme Industries Inc 2017 19.000000 18.0000 USD 1
AINC Ashford Inc 2017 58.000000 50.0000 USD 1
EGI Entree Gold Inc 2017 0.590000 0.5500 CAD 1
FSI Flexible Solutions International Inc 2017 1.610000 1.5000 USD 1

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

LNG:ASE Cheniere Energy

http://www.cheniere.com
Cheniere Energy has 888 employees and is headquartered in United States.
Cheniere Energy Inc is engaged in LNG-related businesses. It owns and operates the Sabine Pass LNG terminal in Louisiana through its ownership interest in and management agreements with Cheniere Energy Partners, L.P.

IRT:ASE Independence Realty Trust

http://www.irtreit.com
Independence Realty Trust has None employees and is headquartered in United States.
Independence Realty Trust Inc is a real estate investment trust. It owns apartment properties in geographic non-gateway markets.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Medtronic (MDT:NYS) and Goldman Sachs Group (GS:NYS) Downgraded

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/toppicks.aspx.

Downgraded Stocks on NYSE, NASDAQ, AMEX, TSE, and TSX

Today we are looking at companies whose share price has been downgraded by at least one analyst in the last few days.

Why Do Companies Get Downgraded?

Companies can get downgraded for a number of reasons but primarily due to reduced future earnings potential due to loss of contracts, faultering product lines, increasing costs relative to revenue or financial risk.

In the list below you can see the number of analysts we have in the StockCalc database along with the number of buy-hold-sell on the company.

Today’s Data on NYSE, NASDAQ, AMEX, TSE, and TSX

Below we have today’s data for companies listed on all of the New York Stock Exchange, NASDAQ Stock Exchange, American Stock Exchange, Toronto Stock Exchange, and TSX Venture Exchange.

New York Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
MDT Medtronic PLC 5 0 3 0 0 0 4.2500 4.3750 Outperform
GS Goldman Sachs Group Inc 4 0 4 0 1 0 3.6667 3.7500 Outperform
ENB Enbridge Inc 4 2 2 0 0 0 4.2500 4.5000 Outperform
ECL Ecolab Inc 7 0 3 1 0 0 4.1818 4.4545 Outperform
BAM Brookfield Asset Management Inc 5 3 1 0 0 0 4.4444 4.5000 Outperform
WCN Waste Connections Inc 6 1 2 1 0 0 4.2000 4.2727 Outperform
GPC Genuine Parts Co 1 0 4 1 0 0 3.1667 3.5000 Hold
GSPRN Goldman Sachs Group Inc 4 0 4 0 1 0 3.6667 3.7500 Outperform
M Macy’s Inc 0 0 7 0 0 0 3.0000 3.1429 Hold
BIP Brookfield Infrastructure Partners LP 3 4 1 0 0 0 4.2500 4.3333 Outperform
UAA Under Armour Inc 1 1 5 0 0 0 3.4286 3.6250 Hold
UA Under Armour Inc 1 1 5 0 0 0 3.4286 3.6250 Hold
EV Eaton Vance Corp 0 0 1 1 0 0 2.5000 3.0000 Underperform
AU Anglogold Ashanti Ltd 1 0 0 1 0 0 3.5000 4.0000 Hold
CPN Calpine Corp 4 1 2 0 0 0 4.2857 4.4286 Outperform
WLL Whiting Petroleum Corp 1 0 6 0 0 0 3.2857 3.3333 Hold
GEO The GEO Group Inc 1 0 1 0 0 0 4.0000 5.0000 Outperform
SAH Sonic Automotive Inc 0 0 1 1 1 0 2.0000 2.3333 Underperform
NOA North American Energy Partners Inc 2 1 0 0 0 0 4.6667 4.7500 Buy
Toronto Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
ENB Enbridge Inc 4 2 2 0 0 0 4.2500 4.5000 Outperform
BAM.A Brookfield Asset Management Inc 5 3 1 0 0 0 4.4444 4.5000 Outperform
WCN Waste Connections Inc 6 1 2 1 0 0 4.2000 4.2727 Outperform
BIP.UN Brookfield Infrastructure Partners LP 3 4 1 0 0 0 4.2500 4.3333 Outperform
SNC SNC-Lavalin Group Inc 4 3 2 0 0 0 4.2222 4.3000 Outperform
VSN Veresen Inc 4 2 3 0 1 0 3.8000 3.9000 Outperform
FTT Finning International Inc 0 1 6 0 0 0 3.1429 3.3750 Hold
ENDP Endo International PLC 3 1 3 0 0 0 4.0000 4.1667 Outperform
BAD Badger Daylighting Ltd 2 0 3 0 0 0 3.8000 4.0000 Outperform
KMP.UN Killam Apartment Real Estate Investment Trust 3 3 1 0 0 0 4.2857 4.4444 Outperform
SIA Sienna Senior Living Inc 1 0 6 0 0 0 3.2857 3.4286 Hold
GCG Guardian Capital Group Ltd 0 0 1 0 0 0 3.0000 4.0000 Hold
GCG.A Guardian Capital Group Ltd 0 0 1 0 0 0 3.0000 4.0000 Hold
NOA North American Energy Partners Inc 2 1 0 0 0 0 4.6667 4.7500 Buy
CGY Calian Group Ltd 1 0 1 0 0 0 4.0000 5.0000 Outperform
PMT Perpetual Energy Inc 0 0 2 0 1 0 2.3333 2.5000 Underperform
NASDAQ
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
PCAR PACCAR Inc 3 0 4 1 0 0 3.6250 3.7778 Outperform
SNI Scripps Networks Interactive Inc 1 0 5 0 0 0 3.3333 3.4000 Hold
EXPD Expeditors International of Washington Inc 0 0 2 1 1 0 2.2500 2.5000 Underperform
ENDP Endo International PLC 3 1 3 0 0 0 4.0000 4.1667 Outperform
SAGE Sage Therapeutics Inc 1 0 1 0 0 0 4.0000 5.0000 Outperform
PCRX Pacira Pharmaceuticals Inc 2 1 0 0 0 0 4.6667 5.0000 Buy
XXIA Ixia 0 0 3 0 0 0 3.0000 3.6667 Hold
ANIP ANI Pharmaceuticals Inc 0 0 1 0 0 0 3.0000 5.0000 Hold
SONS Sonus Networks Inc 0 0 1 0 0 0 3.0000 5.0000 Hold

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

MDT:NYS Medtronic

http://www.medtronic.com
Medtronic has 88000 employees and is headquartered in United States.
Medtronic PLC is engaged in providing medical technology alleviating pain, restoring health, and extending life of people. It currently functions in four operating segments that manufacture and sell device-based medical therapies.

GS:NYS Goldman Sachs Group

http://www.gs.com
Goldman Sachs Group has 34900 employees and is headquartered in United States.
Goldman Sachs Group Inc is a investment banking, securities and investment management firm. Its segments include Investment Banking, Institutional Client Services, Investing & Lending and Investment Management.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Automodular (AM.H:TSX) and Front Range Resources (FRK:TSX) Trading at Less than Cash Value

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Trading at Less than Cash Value

Today we are looking at companies trading at less than cash value meaning companies whose current share price is less than the cash per share on the balance sheet. We also show the value of cash net debt per share to show how much cash per share would be left if the debt was paid off.

What this Means…

Companies can have more cash per share than the actual share price for a number of reasons including they just raised capital, are in industries that experience high burn rates and will eat through the cash quickly or if there is a lot of uncertainty about the future of the company. Companies earning a positive net income will have a P/E greater than 0 and are worth exploring in more detail.

Today’s Data on TSX

Today’s data is for companies listed on the TSX Venture Exchange.

Symbol Name Close Price Shares Outstanding P/E P/B Cash per Share Net Cash per Share
BOE GrowMax Resources Corp 0.150000 215925645 None 0.3679 0.20 0.26
AM.H Automodular Corp 2.430000 13009027 None 0.9291 2.62 2.13
GMN GobiMin Inc 0.550000 51507982 3.1449 0.2541 0.56 0.54
FRK Front Range Resources Ltd 0.415000 54855063 None 0.5608 0.46 None
ALV Alvopetro Energy Ltd 0.250000 85166871 None 0.2149 0.26 None
AWI Advent Wireless Inc 1.110000 11935513 11.9355 0.8001 1.13 0.11
BAT Batero Gold Corp 0.100000 115182383 None 0.5062 0.11 None
ACE.H ACE Aviation Holdings Inc 0.205000 32475000 6.8333 0.0498 0.35 2.19
TORR Torrent Capital Ltd 0.270000 23648312 7.8513 0.8655 0.27 0.00
EEL Esrey Energy Ltd 0.105000 39762771 None 0.4265 0.17 0.17
NOL.H Knol Resources Corp 0.070000 55696470 None 0.9494 0.08 1.43
ERX Era Resources Inc 0.235000 11377792 0.8510 0.0237 0.46 -3.18
TRU Trius Investments Inc 0.185000 11270841 2.6130 0.2211 0.61 0.61
CBV Cobra Venture Corp 0.130000 15903748 None 0.5081 0.17 -0.01
LHR Lakeview Hotel Investment Corp 0.090000 19557806 None None 0.18 -3.92
POC Pacific Iron Ore Corp 0.200000 6737858 None 0.4571 0.23 0.13
CRD.H Coronado Resources Ltd 0.200000 5662340 None 0.7095 0.25 1.17
JTC Jemtec Inc 0.410000 2485654 None 0.8660 0.53 1.40
NGY.H Newcastle Energy Corp 0.120000 6086577 None 0.1872 0.19 0.01
EEN.DL Estrella International Energy Services Ltd 0.175000 2994764 None None 2.83 -13.39
WAS.H Watusi Capital Corp 0.105000 4000000 None 0.8304 0.13 None
KWF Knightswood Financial Corp 0.075000 3011667 2.5000 0.3144 0.23 -26.05
LEQ.H Leo Acquisitions Corp 0.050000 2194088 None 0.5393 0.14 None
IVC Interconnect Ventures Corp 0.055000 9711901 None None 0.08 None
BCO.H British Controlled Oilfields Ltd 0.650000 4068563 None None 0.85 None

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

AM.H:TSX Automodular

http://www.automodular.com
Automodular has 525 employees and is headquartered in Canada.
Automodular Corp is engaged in sequencing and sub-assembly of modules that are installed in equipment assembled by North American Original Equipment Manufacturers at plants in Canada. Its offerings include instrument panel, power pack and rear suspension.

FRK:TSX Front Range Resources

http://www.frrl.ca
Front Range Resources has 7 employees and is headquartered in Canada.
Front Range Resources Ltd is an oil and natural gas exploration and production company.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.