Professional Documents
Culture Documents
12-Mo.
See the last page for Index % of 500 Price Changes (%) 5-Year % Chg.
disclosure information. Value or Sector Sept. 3 Mos. YTD 2017 5-Yr CAGR Beta Std. Dev. Rank
S&P 500 2913.98 100.00 0.4 7.2 9.0 19.4 11.6 1.0 9.5 NM
Growth 1779.52 54.84 0.6 8.9 16.1 25.4 14.7 1.0 10.2 NM
Value 1144.50 45.16 0.2 5.2 1.6 12.6 8.1 1.0 9.7 NM
Pure Growth 12082.23 21.28 (0.5) 4.9 14.7 25.4 13.6 1.0 10.8 NM
Pure Value 6896.77 13.16 (0.6) 4.5 3.6 15.1 9.3 1.1 12.2 NM
Communication Services 160.55 10.03 4.3 8.4 (3.3) (6.0) 1.5 0.6 14.1 11
Advertising 300.75 0.98 (1.9) (7.9) (0.2) (14.3) 2.9 1.1 17.2 92
Alternative Carriers 122.15 0.82 (0.7) 13.7 27.1 (19.4) NA NA NA 67
Broadcasting 662.83 1.42 11.3 7.8 13.3 (4.0) (0.3) 1.4 22.5 47
Cable & Satellite 371.38 9.26 (1.9) 8.7 (10.0) 14.7 11.9 1.2 17.9 112
Integrated Telecommunication Services 161.72 18.84 1.7 5.3 (6.9) (5.3) 0.7 0.6 14.4 98
Interactive Home Entertainment 533.43 4.70 10.6 1.0 27.7 55.1 44.0 0.6 27.1 41
Interactive Media & Services 102.01 46.68 NA NA NA NA NA NA NA NA
Movies & Entertainment 453.98 17.03 3.5 5.2 14.9 3.4 8.2 1.2 17.1 36
Publishing & Printing 291.72 0.27 0.7 (14.7) (18.5) 41.3 (0.2) 1.8 25.9 86
Consumer Discretionary 938.23 10.30 1.0 7.8 19.5 21.2 14.3 1.1 11.9 1
Apparel Retail 1815.03 5.01 2.7 11.8 20.3 4.2 9.8 0.8 16.8 14
Apparel, Accessories & Luxury Goods 358.31 3.48 0.7 4.3 17.0 18.1 0.1 0.6 13.6 32
Auto Parts & Equipment 244.26 1.23 (4.0) (6.5) (5.8) 45.6 7.4 1.7 21.4 95
Automobile Manufacturers 64.16 3.18 (4.7) (15.4) (21.8) 10.6 (6.5) 1.2 18.2 119
Automotive Retail 879.91 2.93 1.2 18.3 30.2 (14.7) 14.0 1.1 18.1 16
Casinos & Gaming 872.06 1.05 (8.8) (14.0) (20.4) 71.6 (7.2) 1.6 37.0 115
Computer & Electronics Retail 495.65 0.76 (0.3) 6.4 15.9 60.5 14.6 1.0 29.6 15
Consumer Electronics 89.26 0.33 2.8 14.8 17.6 18.4 13.3 1.3 23.5 27
Department Stores 199.38 1.18 (5.3) 1.3 34.8 (10.0) 1.6 0.9 27.0 6
Distributors 329.98 0.97 (3.7) 4.5 (8.1) 12.8 3.8 1.2 17.0 96
Footwear 2572.70 4.29 3.1 6.3 35.4 23.1 18.5 0.7 19.2 2
General Merchandise Stores 1259.45 3.75 1.1 9.7 12.4 10.4 8.2 0.7 18.8 28
Home Furnishings 158.94 0.66 (6.9) (13.3) (29.0) 24.4 5.7 1.1 18.8 121
Home Improvement Retail 2067.20 13.04 3.8 9.8 13.0 38.4 21.4 1.2 16.3 25
Homebuilding 833.90 1.37 (8.2) (6.3) (22.9) 71.8 10.6 1.2 22.2 99
Hotels, Resorts & Cruise Lines 586.23 4.81 4.7 10.2 0.3 46.4 18.2 1.3 16.7 60
Household Appliances 398.52 0.30 (5.0) (18.8) (29.6) (7.2) (4.1) 1.6 27.4 124
Housewares & Specialties 156.65 0.35 (6.5) (21.3) (34.3) (30.8) (5.9) 0.6 25.5 125
Internet & Direct Marketing Retail 8078.57 37.97 (0.1) 11.5 65.2 47.3 38.7 1.5 24.1 1
Leisure Products 217.33 0.70 4.6 7.5 11.1 (14.9) (2.5) 1.0 21.8 74
Motorcycle Manufacturers 129.08 0.30 6.3 7.7 (11.0) (12.8) (6.7) 1.0 23.2 104
Restaurants 1464.66 10.28 3.5 10.2 1.7 22.9 10.2 0.6 11.3 57
Specialized Consumer Services 103.39 0.21 (4.8) 13.0 (1.8) 14.0 (0.7) 0.2 26.6 94
Specialty Stores 104.77 1.63 5.9 11.9 20.9 (1.2) 2.9 1.3 19.7 33
Tires & Rubber 76.65 0.22 3.1 0.4 (27.6) 4.7 0.8 1.7 27.6 123
Consumer Staples 554.91 6.71 0.6 4.9 (5.5) 10.5 6.2 0.7 10.6 9
Agricultural Products 868.89 1.71 (0.3) 9.7 25.4 (12.2) 6.4 1.0 20.6 44
Brewers 710.77 0.70 (7.9) (9.6) (25.1) (15.7) 4.2 0.7 21.6 122
Distillers & Vintners 946.34 2.71 1.6 (0.4) (6.0) 50.3 22.9 0.2 13.5 59
Drug Retail 1074.10 3.73 6.3 21.5 3.3 (10.1) 6.2 1.0 19.6 101
Food Distributors 878.51 2.12 (2.1) 7.3 20.6 9.7 18.1 0.5 14.2 20
Food Retail 211.69 1.41 (7.6) 2.3 6.0 1.4 3.4 1.0 25.5 7
Household Products 562.62 20.54 0.6 6.6 (7.9) 10.6 3.1 0.6 12.9 103
HyperMarkets & Super Centers 237.20 14.42 (0.8) 10.8 6.4 34.1 9.1 0.7 15.0 29
Packaged Foods & Meats 495.91 14.02 (2.3) (1.5) (12.2) (1.1) 4.5 0.6 12.3 102
Personal Products 579.53 2.32 3.4 (0.3) 1.6 47.0 3.6 0.6 17.8 40
Soft Drinks 484.31 21.72 1.4 3.9 (1.8) 13.9 7.0 0.8 11.7 78
Tobacco 1032.91 14.59 3.9 3.4 (19.5) 10.6 5.6 0.7 16.5 116
Energy 560.91 6.00 2.4 (0.1) 5.2 (3.8) (1.5) 1.0 17.5 4
Integrated Oil & Gas 548.65 44.56 4.7 0.1 1.0 (1.8) (0.3) 0.9 15.6 73
Oil & Gas Drilling 186.49 0.51 4.9 7.9 6.4 (22.6) (17.3) 1.6 36.1 24
Oil & Gas Equipment & Services 468.39 11.11 (2.1) (7.0) (7.2) (16.5) (5.7) 0.9 21.4 107
Oil & Gas Exploration & Production 492.98 26.20 4.5 0.7 15.0 (7.2) (4.4) 1.2 26.2 35
Oil & Gas Refining & Marketing 1039.28 11.22 (3.5) 5.9 19.8 27.1 20.6 1.1 21.8 17
Oil & Gas Storage & Transportation 184.04 6.40 (2.1) (1.8) 1.9 (6.9) (4.6) 0.9 22.0 90
Financials 458.18 13.31 (2.4) 3.9 (1.2) 20.0 11.3 1.1 13.4 6
Asset Management & Custody Banks 246.90 7.12 (2.7) (5.3) (10.4) 26.3 6.9 1.3 16.7 97
Consumer Finance 949.57 5.14 (1.5) 4.9 (1.3) 17.6 5.9 1.3 18.5 52
Diversified Banks 571.97 34.92 (3.9) 4.1 (2.0) 21.3 12.0 1.2 17.7 69
Financial Exchanges & Data 148.34 6.55 (4.0) (0.1) 11.4 38.2 NA NA NA 43
Insurance Brokers 679.46 3.40 0.6 4.4 5.9 21.0 13.3 1.0 12.6 81
Investment Banking & Brokerage 156.74 6.89 (4.9) (1.8) (8.2) 18.9 11.9 1.4 20.8 82
Life & Health Insurance 383.91 5.44 2.8 8.3 (9.0) 13.5 5.5 1.3 18.0 100
Multi-line Insurance 107.55 2.59 0.2 0.6 (8.1) (0.8) 3.1 1.1 15.8 108
Multi-Sector Holdings 108.66 12.95 2.4 14.4 7.5 21.4 13.0 0.9 12.5 46
Property & Casualty Insurance 567.54 5.62 0.1 9.0 2.5 20.0 12.6 1.0 13.0 62
Reinsurance 89.39 0.29 2.4 (0.9) 3.3 NA NA NA NA 84
Regional Banks 117.72 9.10 (6.3) (0.2) (1.0) 14.9 12.1 1.1 18.1 71
See the last page for Index % of 500 Price Changes (%) 5-Year % Chg.
disclosure information. Value or Sector Sept. 3 Mos. YTD 2017 5-Yr CAGR Beta Std. Dev. Rank
Health Care 1101.36 15.05 2.8 14.0 15.2 20.0 13.4 1.0 11.6 3
Biotechnology 4130.90 17.18 1.0 10.5 5.8 16.9 10.1 1.2 18.9 93
Health Care Distributors 563.85 1.92 4.1 6.7 (7.3) 0.8 3.5 1.1 20.5 110
Health Care Equipment 1588.49 20.36 5.2 13.7 27.4 29.3 19.7 0.9 12.7 22
Health Care Facilities 640.50 1.31 2.4 30.3 45.3 15.0 16.1 0.7 23.6 5
Health Care Services 806.60 4.88 4.4 15.4 16.2 6.1 8.0 1.0 16.3 30
Health Care Supplies 317.48 1.37 1.8 9.2 20.8 37.4 17.0 1.4 18.7 26
Health Care Technology 294.45 0.57 (1.1) 7.7 (4.4) 42.3 4.2 1.0 22.0 111
Life Sciences Tools & Services 585.88 6.41 2.9 19.6 28.4 43.9 19.1 1.2 17.7 23
Managed Health Care 2318.92 14.51 1.3 12.0 20.1 42.4 28.2 0.7 16.2 21
Pharmaceuticals 700.23 31.49 2.8 16.2 10.5 9.6 9.3 0.9 11.5 58
Industrials 659.07 9.70 2.1 9.5 3.3 18.5 10.5 1.1 11.6 5
Aerospace & Defense 1329.59 28.38 6.3 10.7 13.0 38.6 18.3 1.0 12.8 38
Agricultural & Farm Machinery 174.94 2.03 4.5 7.5 (3.9) 51.9 NA NA NA 42
Air Freight & Logistics 749.81 6.96 (2.7) 8.3 (0.6) 15.9 9.3 1.2 15.7 76
Airlines 365.45 4.80 0.9 18.7 (0.2) 11.1 21.5 1.1 25.3 56
Building Products 325.46 2.83 (4.8) 2.1 (10.2) 9.5 9.9 1.3 18.7 114
Construction & Engineering 296.03 0.93 1.7 14.7 6.2 8.2 1.3 1.3 18.9 39
Construction Machinery & Heavy Trucks 948.67 5.72 6.8 11.6 (6.0) 47.7 7.7 1.3 19.4 65
Diversified Support Services 445.53 1.16 (12.5) 0.3 19.2 34.8 29.4 1.0 16.2 31
Electrical Components & Equipment 785.03 5.33 2.2 12.5 4.9 24.3 4.6 1.2 15.7 54
Environmental & Facilities Services 244.34 2.37 (1.1) 7.5 3.5 16.3 11.4 0.6 11.1 61
Human Resource & Employment Services 188.74 0.36 (10.0) 8.1 26.7 13.9 12.5 1.2 23.9 13
Industrial Conglomerates 327.61 15.76 (2.4) 1.9 (12.6) (10.8) 1.6 1.1 13.8 117
Industrial Machinery 1197.56 8.10 2.5 11.4 (0.6) 31.2 12.1 1.3 15.1 68
Railroads 1993.69 10.19 4.5 15.7 24.4 35.0 17.0 1.0 17.8 19
Research & Consulting Services 180.51 2.71 0.0 4.0 9.8 (1.3) 8.6 0.9 13.5 51
Trading Companies & Distributors 600.99 1.95 1.4 15.9 15.2 22.9 4.7 1.2 21.8 8
Trucking 215.21 0.44 (1.5) (2.1) 3.4 17.6 13.5 1.3 19.8 70
Information Technology 1322.07 20.99 (0.4) 8.5 19.5 36.9 20.6 1.1 13.0 2
Application Software 191.98 7.81 2.3 12.7 46.2 50.8 28.7 1.3 17.3 3
Communications Equipment 228.29 5.42 1.4 11.9 26.9 23.3 12.4 1.1 17.2 10
Data Processing & Outsourced Services 1069.77 15.98 1.4 11.0 29.8 41.0 22.9 1.1 13.4 12
Electronic Components 250.95 1.10 2.3 17.4 8.6 31.3 19.3 1.2 16.3 48
Electronic Equipment & Instruments 322.50 0.16 (2.0) 18.3 31.9 28.8 14.4 0.7 20.5 4
Electronic Manufacturing Services 222.83 0.70 (5.3) (8.0) (12.2) 37.2 9.3 1.0 16.9 83
Internet Services & Infrastructure 792.78 0.57 (5.7) (4.7) 3.1 40.8 21.2 1.0 17.0 63
IT Consulting & Other Services 181.06 6.44 1.8 6.2 6.8 10.7 4.5 0.9 12.8 50
Semiconductor Equipment 833.55 1.51 (11.3) (12.3) (18.8) 57.8 18.6 1.5 25.3 120
Semiconductors 1015.22 17.04 (0.2) 4.8 11.9 33.4 21.9 1.1 16.8 34
Systems Software 2135.44 20.81 2.2 15.7 27.8 34.6 22.7 1.2 16.5 11
Technology Hardware, Storage & Peripherals 265.28 22.45 (0.9) 19.5 30.8 42.4 NA NA NA 9
Materials 363.12 2.43 (2.3) (0.1) (4.2) 21.4 6.5 1.2 14.4 7
Commodity Chemicals 179.56 5.49 (9.1) (6.7) (7.1) 28.6 7.0 1.1 23.6 79
Construction Materials 201.40 4.39 (3.7) (16.0) (15.3) 1.3 14.0 1.0 22.7 109
Copper 140.04 3.38 (0.9) (19.4) (26.6) 43.7 NA NA NA 89
Diversified Chemicals 388.58 27.14 (7.8) (2.6) (8.7) 23.3 8.2 1.5 20.9 105
Fertilizers & Agricultural Chemicals 1556.58 6.03 3.6 11.3 18.2 16.1 5.0 1.1 17.4 37
Gold 71.10 2.70 (2.7) (19.9) (19.5) 10.1 1.5 0.2 40.8 118
Industrial Gases 1185.18 13.89 1.1 4.0 3.0 23.3 8.9 1.0 13.0 55
Metal & Glass Containers 204.80 2.54 5.0 23.7 16.2 0.8 7.3 1.0 17.4 72
Paper Packaging 275.35 10.05 (1.6) (3.4) (13.3) 20.4 9.4 1.3 16.6 106
Specialty Chemicals 1249.70 21.04 1.9 9.8 2.8 30.3 11.7 1.1 12.9 64
Steel 148.10 3.36 1.5 1.5 (0.2) 6.8 5.8 1.7 24.6 53
Real Estate 201.86 2.65 (3.2) (0.0) (1.0) 7.2 6.1 0.6 12.5 8
Health Care REITs 95.07 8.53 (5.4) (0.1) (2.9) (6.2) NA NA NA 113
Hotel & Resort REITs 108.09 2.40 (2.0) 0.1 6.3 5.6 NA NA NA 49
Industrial REITs 59.42 8.09 0.7 2.0 5.0 20.6 12.2 0.8 16.9 75
Office REITs 171.64 8.18 (4.8) (1.5) (4.9) 1.6 3.4 0.7 16.2 88
Real Estate Services 337.41 2.14 (9.6) (7.6) 1.8 37.5 13.8 1.8 25.0 45
Residential REITs 179.15 14.55 (1.1) 4.1 2.4 1.2 8.3 0.4 15.1 85
Retail REITs 107.30 15.99 (3.2) 3.3 (2.1) (5.7) 3.9 0.5 16.3 77
Specialized REITs 198.15 40.12 (3.5) (2.6) (2.0) 20.6 8.5 0.6 12.2 80
Utilities 267.28 2.83 (0.9) 1.5 (0.0) 8.3 7.1 0.2 12.7 10
Electric Utilities 295.23 62.31 (1.0) 1.3 0.5 6.8 6.7 0.1 13.3 91
Independent Power Producers & Energy Traders 92.40 2.96 4.9 13.3 30.4 39.4 3.7 1.1 22.7 18
Water Utilities 129.56 2.28 0.5 3.0 (3.8) 26.4 NA NA NA 66
Multi-Utilities 36.36 32.45 (1.3) 0.8 (2.9) 8.3 7.6 0.2 12.7 87
RANKINGS -- CFRA STARS: Sector and Sub-Industry STARS are weighted averages of index component company STARS. 5=Strong Buy, 3=Hold, 1=Strong Sell.
Source: S&P Dow Jones Indices. “S&P”, “S&P 500”, “S&P MidCap 400” and “S&P SmallCap 600” are trademarks of S&P Global.
Glossary Price Momentum. In the U.S., a sixth sub-category for
Financial Health will also be displayed. Percentile scores are
used to compare each company to all other companies in the
★★★★★ 5-STARS (Strong Buy):
same universe for each model category. The five (six) model
Total return is expected to outperform the total return of a category scores are then weighted and rolled up into a single
relevant benchmark, by a wide margin over the coming 12 percentile ranking for that company. For reports containing
months, with shares rising in price on an absolute basis. quantitative recommendations refer to the Glossary section of
the report for detailed methodology and the definition of
★★★★☆ 4-STARS (Buy): Quantitative rankings.
Total return is expected to outperform the total return of a
relevant benchmark over the coming 12 months, with shares STARS Stock Reports and Quantitative Stock Reports
rising in price on an absolute basis.
The methodologies used in STARS Stock Reports and
★★★☆☆ 3-STARS (Hold): Quantitative Stock Reports (collectively, the "Research
Total return is expected to closely approximate the total Reports") reflect different criteria, assumptions and analytical
return of a relevant benchmark over the coming 12 months, methods and may have differing recommendations. The
with shares generally rising in price on an absolute basis. methodologies and data used to generate the different types
of Research Reports are believed by the author and
★★☆☆☆ 2-STARS (Sell): distributor reasonable and appropriate. Generally, CFRA
Total return is expected to underperform the total return of a does not generate reports with different ranking
relevant benchmark over the coming 12 months, and the methodologies for the same issuer. However, in the event that
share price not anticipated to show a gain. different methodologies or data are used on the analysis of an
issuer, the methodologies may lead to different views or
★☆☆☆☆ 1-STAR (Strong Sell): recommendations on the issuer, which may at times result in
Total return is expected to underperform the total return of a contradicting assessments of an issuer. CFRA reserves the
relevant benchmark by a wide margin over the coming 12 right to alter, replace or vary models, methodologies or
months, with shares falling in price on an absolute basis. assumptions from time to time and without notice to clients.
Overweight rankings are assigned to approximately the top STARS Stock Reports are prepared by the equity research
quartile of the asset class. analysts of CFRA and its affiliates and subsidiaries. All of
the views expressed in STARS Stock Reports accurately
Marketweight rankings are assigned to approximately the reflect the research analyst's personal views regarding any
second and third quartiles of the asset class. and all of the subject securities or issuers. Analysts generally
update stock reports at least four times each year. No part of
Underweight rankings are assigned to approximately the analyst, CFRA, or its affiliates or subsidiaries compensation
bottom quartile of the asset class. was, is, or will be directly or indirectly related to the specific
recommendations or views expressed in a STARS Stock
Disclosures Report.