reports
- Valens Research
- Valens Research
ROST - Valens Credit Report - 2024 03 11
Credit markets are overstating ROST's credit risk with a YTW of 5.568% relative to an Intrinsic YTW of 4.822% and an Intrinsic CDS of 43bps Meanwhile, Incentive Dictate Behavior™ analysis highlights mostly negative signals for creditors. As a positive, all management members are material owners of ROST equity relative to their annual compensation, indicating they may be well-aligned with shareholders to pursue long-term value creation for the company. Earnings Call Forensics™ analysis of the f...
- Valens Research
ROST - Valens Credit Report - 2023 10 24
Credit markets are slightly overstating ROST's credit risk with a YTW of 5.922% relative to an Intrinsic YTW of 5.199% and an Intrinsic CDS of 48bps. Meanwhile, Moody's is overstating the company's fundamental credit risk, with its investment-grade A2 credit rating two notches higher than Valens' IG4+ (Baa1) credit rating. That said, Incentive Dictate Behavior™ analysis highlights mostly negative signals for creditors. As a positive, all management members are material owners of ROST equity rel...
- Valens Research
- Valens Research
ROST - Valens Credit Report - 2023 06 20
Credit markets are slightly overstating ROST's credit risk with a YTW of 5.238% relative to an Intrinsic YTW of 4.548% and an Intrinsic CDS of 69bps. That said, Incentive Dictate Behavior™ analysis highlights mostly negative signals for creditors. As a positive, all management members are material owners of ROST equity relative to their annual compensation indicating they may be aligned with shareholders to pursue long-term value creation for the company. Earnings Call Forensics™ analysis of t...
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Rally Continues Following Breaks in USD & 10-Yr Yield Our Russell 2000 (IWM) and S&P 500 targets for this rally have been the 200-day MAs, coinciding with YTD downtrends. The Russell already hit this target while the S&P is closing in, less than 1% away. Still, the vast majority of signals point to further upside ahead for the market indexes. These same signals also suggest a possible end to this bear market, something that we have said would be the case if the IWM and S&P 500 can break above (...
TJX TJX COMPANIES INC
ROST ROSS STORES INC.
LVS LAS VEGAS SANDS CORP.
IGT INTERNATIONAL GAME TECHNOLOGY PLC
DRO DRONESHIELD
HLX HELIX ENERGY SOLUTIONS GROUP INC.
HP HELMERICH & PAYNE INC.
MGM MGM RESORTS INTERNATIONAL
PTEN PATTERSON-UTI ENERGY INC.
GIFI GULF ISLAND FABRICATION INC.
TUSK MAMMOTH ENERGY SERVICES
TEC TECHNIPFMC PLC
TDW TIDEWATER INC
BORR BORR DRILLING
SOCA SUBSEA 7 S.A. ADS
PDu PRECISION DRILLING
OI O-I GLASS INC
- Valens Research
Valens Equity Insights and Inflections - 2022 04 12
LPL Financial (LPLA) has created a powerful platform to empower independent and smaller scale wealth advisors to compete with the big players like Merrill Lynch and Morgan Stanley. Uniform Accounting highlights the company's operational improvements that the market is missing, indicating equity upside. LPL has reformulated the value proposition of being an independent RIA with its asset-light advisor platform. Uniform ROA has expanded to new peaks above 20%, which is sustainable going forwa...
- Valens Research
ROST - Embedded Expectations Analysis - 2022 04 06
Ross Stores (ROST) currently trades below corporate but near historical averages relative to Uniform earnings, with an 18.0x Uniform P/E (Fwd. V/E'). At these levels, markets are pricing in expectations for Uniform ROA to compress to 14%, accompanied by 5% Uniform asset growth. Meanwhile, analysts expect Uniform ROA to remain stable at 18% in 2024, accompanied by 4% Uniform asset growth. If sustained going forward, these levels would imply a stock price closer to $120, representing 32% equity...
- Wedbush Research
MTB M&T BANK CORPORATION
SIVB SVB FINANCIAL GROUP
KMX CARMAX INC.
USB U.S. BANCORP
ZION ZIONS BANCORPORATION N.A.
WTFC WINTRUST FINANCIAL CORPORATION
WBS WEBSTER FINANCIAL CORPORATION
WAL WESTERN ALLIANCE BANCORP
VLY VALLEY NATIONAL BANCORP
UMPQ UMPQUA HOLDINGS CORPORATION
TJX TJX COMPANIES INC
TCBI TEXAS CAPITAL BANCSHARES INC.
SHOO STEVEN MADDEN LTD.
SBUX STARBUCKS CORPORATION
SBNY SIGNATURE BANK
ROST ROSS STORES INC.
RF REGIONS FINANCIAL CORPORATION
PPBI PACIFIC PREMIER BANCORP INC.
PB PROSPERITY BANCSHARES INC.(R)
PACW PACWEST BANCORP
NYCB NEW YORK COMMUNITY BANCORP INC.
NCMI NATIONAL CINEMEDIA INC.
KEY KEYCORP
JWN NORDSTROM INC.
IMAX IMAX CORPORATION
HMST HOMESTREET INC.
HBAN HUNTINGTON BANCSHARES INCORPORATED
HAFC HANMI FINANCIAL CORPORATION
GOOGL ALPHABET INC. CLASS A
FRC FIRST REPUBLIC BANK
FITB FIFTH THIRD BANCORP
FFWM FIRST FOUNDATION
FB FACEBOOK INC. CLASS A
EWBC EAST WEST BANCORP INC.
EBAY EBAY INC.
CVBF CVB FINANCIAL CORP.
CUBI CUSTOMERS BANCORP INC.
CNK CINEMARK HOLDINGS INC.
CFG CITIZENS FINANCIAL GROUP INC.
CATY CATHAY GENERAL BANCORP
BKU BANKUNITED INC.
A117ME ALIBABA GROUP HOLDING LTD. SPONSORED ADR
AMC AMC ENTERTAINMENT HOLDINGS INC. CLASS A
AEO AMERICAN EAGLE OUTFITTERS INC.
CFR CULLEN/FROST BANKERS INC.
BOKF BOK FINANCIAL CORPORATION
CMA COMERICA INCORPORATED
RL RALPH LAUREN CORPORATION CLASS A
TSC TRISTATE CAPITAL HOLDINGS INC
HOPE HOPE BANCORP INC.
SFIX STITCH FIX CLASS A
AX AXOS FINANCIAL INC.
PINS PINTEREST INC. CLASS A
UBER UBER TECHNOLOGIES INC.
LC LENDINGCLUB CORP
SI SILVERGATE CAPITAL
VRM VROOM
BIGC BIGCOMMERCE HOLDINGS
POSH POSHMARK
TDUP THREDUP INC.
SOFI SOFI TECHNOLOGIES INC
- Ezra Weener
- Tom Nikic
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