Intrinsic value of Sally Beauty Holdings - SBH

Previous Close

$16.15

  Intrinsic Value

$4.84

stock screener

  Rating & Target

str. sell

-70%

Previous close

$16.15

 
Intrinsic value

$4.84

 
Up/down potential

-70%

 
Rating

str. sell

We calculate the intrinsic value of SBH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  4,017
  4,109
  4,215
  4,333
  4,465
  4,609
  4,766
  4,936
  5,119
  5,315
  5,525
  5,750
  5,988
  6,242
  6,511
  6,797
  7,099
  7,418
  7,756
  8,112
  8,488
  8,885
  9,303
  9,743
  10,207
  10,695
  11,209
  11,750
  12,319
  12,918
Variable operating expenses, $m
  3,509
  3,589
  3,679
  3,781
  3,894
  4,018
  4,152
  4,298
  4,455
  4,624
  4,742
  4,935
  5,140
  5,358
  5,589
  5,834
  6,093
  6,367
  6,657
  6,963
  7,285
  7,626
  7,984
  8,362
  8,761
  9,180
  9,621
  10,085
  10,574
  11,087
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,509
  3,589
  3,679
  3,781
  3,894
  4,018
  4,152
  4,298
  4,455
  4,624
  4,742
  4,935
  5,140
  5,358
  5,589
  5,834
  6,093
  6,367
  6,657
  6,963
  7,285
  7,626
  7,984
  8,362
  8,761
  9,180
  9,621
  10,085
  10,574
  11,087
Operating income, $m
  507
  520
  535
  552
  571
  591
  613
  638
  663
  691
  783
  815
  849
  884
  923
  963
  1,006
  1,051
  1,099
  1,149
  1,203
  1,259
  1,318
  1,381
  1,446
  1,515
  1,588
  1,665
  1,746
  1,830
EBITDA, $m
  665
  680
  698
  717
  739
  763
  789
  817
  847
  880
  914
  952
  991
  1,033
  1,078
  1,125
  1,175
  1,228
  1,284
  1,342
  1,405
  1,470
  1,540
  1,612
  1,689
  1,770
  1,855
  1,945
  2,039
  2,138
Interest expense (income), $m
  142
  136
  97
  100
  104
  108
  113
  118
  123
  129
  136
  143
  150
  158
  166
  175
  185
  195
  205
  216
  228
  241
  254
  268
  282
  298
  314
  331
  349
  368
  388
Earnings before tax, $m
  371
  423
  435
  448
  462
  478
  496
  514
  534
  556
  640
  665
  691
  718
  747
  778
  811
  846
  883
  921
  962
  1,005
  1,050
  1,098
  1,148
  1,201
  1,257
  1,316
  1,377
  1,442
Tax expense, $m
  100
  114
  117
  121
  125
  129
  134
  139
  144
  150
  173
  179
  186
  194
  202
  210
  219
  228
  238
  249
  260
  271
  284
  297
  310
  324
  339
  355
  372
  389
Net income, $m
  271
  309
  318
  327
  338
  349
  362
  375
  390
  406
  467
  485
  504
  524
  546
  568
  592
  618
  644
  673
  702
  734
  767
  802
  838
  877
  918
  961
  1,006
  1,053

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,141
  2,190
  2,247
  2,310
  2,380
  2,457
  2,540
  2,631
  2,729
  2,833
  2,945
  3,065
  3,192
  3,327
  3,471
  3,623
  3,784
  3,954
  4,134
  4,324
  4,525
  4,736
  4,959
  5,193
  5,441
  5,701
  5,975
  6,263
  6,567
  6,886
Adjusted assets (=assets-cash), $m
  2,141
  2,190
  2,247
  2,310
  2,380
  2,457
  2,540
  2,631
  2,729
  2,833
  2,945
  3,065
  3,192
  3,327
  3,471
  3,623
  3,784
  3,954
  4,134
  4,324
  4,525
  4,736
  4,959
  5,193
  5,441
  5,701
  5,975
  6,263
  6,567
  6,886
Revenue / Adjusted assets
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
Average production assets, $m
  956
  978
  1,003
  1,031
  1,063
  1,097
  1,134
  1,175
  1,218
  1,265
  1,315
  1,368
  1,425
  1,486
  1,550
  1,618
  1,690
  1,766
  1,846
  1,931
  2,020
  2,115
  2,214
  2,319
  2,429
  2,545
  2,668
  2,797
  2,932
  3,074
Working capital, $m
  635
  649
  666
  685
  705
  728
  753
  780
  809
  840
  873
  908
  946
  986
  1,029
  1,074
  1,122
  1,172
  1,225
  1,282
  1,341
  1,404
  1,470
  1,539
  1,613
  1,690
  1,771
  1,857
  1,946
  2,041
Total debt, $m
  1,332
  1,376
  1,427
  1,484
  1,547
  1,616
  1,691
  1,773
  1,861
  1,955
  2,056
  2,163
  2,278
  2,400
  2,529
  2,666
  2,811
  2,964
  3,126
  3,297
  3,477
  3,667
  3,868
  4,079
  4,302
  4,536
  4,782
  5,042
  5,315
  5,602
Total liabilities, $m
  1,927
  1,971
  2,022
  2,079
  2,142
  2,211
  2,286
  2,368
  2,456
  2,550
  2,651
  2,758
  2,873
  2,995
  3,124
  3,261
  3,406
  3,559
  3,721
  3,892
  4,072
  4,262
  4,463
  4,674
  4,897
  5,131
  5,378
  5,637
  5,910
  6,197
Total equity, $m
  214
  219
  225
  231
  238
  246
  254
  263
  273
  283
  295
  306
  319
  333
  347
  362
  378
  395
  413
  432
  452
  474
  496
  519
  544
  570
  598
  626
  657
  689
Total liabilities and equity, $m
  2,141
  2,190
  2,247
  2,310
  2,380
  2,457
  2,540
  2,631
  2,729
  2,833
  2,946
  3,064
  3,192
  3,328
  3,471
  3,623
  3,784
  3,954
  4,134
  4,324
  4,524
  4,736
  4,959
  5,193
  5,441
  5,701
  5,976
  6,263
  6,567
  6,886
Debt-to-equity ratio
  6.220
  6.280
  6.350
  6.420
  6.500
  6.580
  6.660
  6.740
  6.820
  6.900
  6.980
  7.060
  7.140
  7.210
  7.290
  7.360
  7.430
  7.500
  7.560
  7.620
  7.680
  7.740
  7.800
  7.850
  7.910
  7.960
  8.000
  8.050
  8.090
  8.140
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  271
  309
  318
  327
  338
  349
  362
  375
  390
  406
  467
  485
  504
  524
  546
  568
  592
  618
  644
  673
  702
  734
  767
  802
  838
  877
  918
  961
  1,006
  1,053
Depreciation, amort., depletion, $m
  157
  160
  162
  165
  168
  171
  175
  179
  184
  188
  132
  137
  143
  149
  155
  162
  169
  177
  185
  193
  202
  211
  221
  232
  243
  255
  267
  280
  293
  307
Funds from operations, $m
  428
  469
  480
  492
  506
  521
  537
  555
  574
  594
  599
  622
  647
  673
  701
  730
  761
  794
  829
  866
  904
  945
  988
  1,034
  1,081
  1,132
  1,185
  1,240
  1,299
  1,360
Change in working capital, $m
  12
  15
  17
  19
  21
  23
  25
  27
  29
  31
  33
  35
  38
  40
  43
  45
  48
  50
  53
  56
  59
  63
  66
  70
  73
  77
  81
  85
  90
  95
Cash from operations, $m
  416
  454
  463
  473
  485
  498
  512
  528
  545
  563
  566
  587
  609
  633
  658
  685
  713
  744
  776
  809
  845
  882
  922
  964
  1,008
  1,054
  1,103
  1,155
  1,209
  1,266
Maintenance CAPEX, $m
  -94
  -96
  -98
  -100
  -103
  -106
  -110
  -113
  -117
  -122
  -127
  -132
  -137
  -143
  -149
  -155
  -162
  -169
  -177
  -185
  -193
  -202
  -211
  -221
  -232
  -243
  -255
  -267
  -280
  -293
New CAPEX, $m
  -17
  -22
  -25
  -28
  -31
  -34
  -37
  -40
  -44
  -47
  -50
  -53
  -57
  -60
  -64
  -68
  -72
  -76
  -80
  -85
  -89
  -94
  -99
  -105
  -110
  -116
  -122
  -129
  -135
  -142
Cash from investing activities, $m
  -111
  -118
  -123
  -128
  -134
  -140
  -147
  -153
  -161
  -169
  -177
  -185
  -194
  -203
  -213
  -223
  -234
  -245
  -257
  -270
  -282
  -296
  -310
  -326
  -342
  -359
  -377
  -396
  -415
  -435
Free cash flow, $m
  304
  336
  340
  345
  351
  357
  365
  374
  384
  394
  389
  402
  415
  430
  445
  462
  480
  499
  519
  540
  562
  586
  611
  638
  666
  695
  726
  759
  794
  830
Issuance/(repayment) of debt, $m
  -536
  44
  51
  57
  63
  69
  75
  82
  88
  94
  101
  108
  115
  122
  129
  137
  145
  153
  162
  171
  180
  190
  201
  211
  223
  234
  247
  259
  273
  287
Issuance/(repurchase) of shares, $m
  307
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -229
  44
  51
  57
  63
  69
  75
  82
  88
  94
  101
  108
  115
  122
  129
  137
  145
  153
  162
  171
  180
  190
  201
  211
  223
  234
  247
  259
  273
  287
Total cash flow (excl. dividends), $m
  76
  381
  391
  402
  414
  426
  440
  455
  471
  488
  490
  509
  530
  552
  575
  599
  625
  652
  681
  711
  743
  776
  812
  849
  888
  930
  973
  1,019
  1,067
  1,117
Retained Cash Flow (-), $m
  -578
  -5
  -6
  -6
  -7
  -8
  -8
  -9
  -10
  -10
  -11
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -25
  -26
  -27
  -29
  -30
  -32
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  12
  12
  12
  13
  13
  13
  14
  14
  15
  15
  16
  17
  17
  18
  19
  20
  20
  21
  22
  23
  24
  25
  27
  28
  29
  31
  32
  34
  35
  37
Cash available for distribution, $m
  -502
  376
  385
  395
  407
  419
  432
  446
  462
  478
  479
  497
  517
  538
  560
  584
  609
  635
  663
  692
  723
  755
  789
  826
  864
  904
  946
  990
  1,036
  1,085
Discount rate, %
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.21
  20.17
  21.18
  22.23
  23.35
  24.51
  25.74
  27.03
  28.38
  29.80
  31.29
  32.85
  34.49
  36.22
  38.03
  39.93
  41.93
  44.02
  46.22
  48.53
  50.96
  53.51
PV of cash for distribution, $m
  -445
  291
  258
  226
  195
  167
  140
  116
  95
  76
  58
  45
  34
  25
  18
  13
  9
  6
  4
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0
  50.0

Sally Beauty Holdings, Inc. is an international specialty retailer and distributor of professional beauty supplies with operations primarily in North America, South America and Europe. The Company operates through two business segments: Sally Beauty Supply and Beauty Systems Group (BSG). Sally Beauty Supply is a domestic and international chain of cash and carry retail stores, which offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America. BSG, including its franchise-based business Armstrong McCall, is a full service beauty supply distributor, which offers professional brands of beauty products directly to salons and salon professionals through its own sales force and professional-only stores (including franchise stores) in partially exclusive geographical territories in North America and parts of Europe.

FINANCIAL RATIOS  of  Sally Beauty Holdings (SBH)

Valuation Ratios
P/E Ratio 9.7
Price to Sales 0.5
Price to Book -5.7
Price to Tangible Book
Price to Cash Flow 6.1
Price to Free Cash Flow 8.2
Growth Rates
Sales Growth Rate -0.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -40.4%
Cap. Spend. - 3 Yr. Gr. Rate 3.2%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity -486.8%
Total Debt to Equity -513.2%
Interest Coverage 3
Management Effectiveness
Return On Assets 14.3%
Ret/ On Assets - 3 Yr. Avg. 14.6%
Return On Total Capital 14.3%
Ret/ On T. Cap. - 3 Yr. Avg. 15.1%
Return On Equity -67.2%
Return On Equity - 3 Yr. Avg. -72.6%
Asset Turnover 1.9
Profitability Ratios
Gross Margin 49.9%
Gross Margin - 3 Yr. Avg. 49.7%
EBITDA Margin 15.2%
EBITDA Margin - 3 Yr. Avg. 15.1%
Operating Margin 12.1%
Oper. Margin - 3 Yr. Avg. 12.6%
Pre-Tax Margin 8.8%
Pre-Tax Margin - 3 Yr. Avg. 9.2%
Net Profit Margin 5.5%
Net Profit Margin - 3 Yr. Avg. 5.7%
Effective Tax Rate 37.9%
Eff/ Tax Rate - 3 Yr. Avg. 37.6%
Payout Ratio 0%

SBH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SBH stock intrinsic value calculation we used $3938 million for the last fiscal year's total revenue generated by Sally Beauty Holdings. The default revenue input number comes from 2017 income statement of Sally Beauty Holdings. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SBH stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 13%, whose default value for SBH is calculated based on our internal credit rating of Sally Beauty Holdings, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Sally Beauty Holdings.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SBH stock the variable cost ratio is equal to 87.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SBH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.3% for Sally Beauty Holdings.

Corporate tax rate of 27% is the nominal tax rate for Sally Beauty Holdings. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SBH stock is equal to 0.3%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SBH are equal to 23.8%.

Life of production assets of 10 years is the average useful life of capital assets used in Sally Beauty Holdings operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SBH is equal to 15.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $-364 million for Sally Beauty Holdings - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 138 million for Sally Beauty Holdings is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Sally Beauty Holdings at the current share price and the inputted number of shares is $2.2 billion.

RELATED COMPANIES Price Int.Val. Rating
ULTA Ulta Beauty 254.52 228.95  hold
ELF e.l.f. Beauty 14.92 9.88  sell
COTY Coty Cl A 13.95 36.78  str.buy

COMPANY NEWS

▶ Why Shares of Sally Beauty Holdings Inc. Tumbled Today   [May-03-18 05:30PM  Motley Fool]
▶ Sally Beauty's new CFO is the company's third in less than two years   [12:15PM  American City Business Journals]
▶ Sally Beauty: Fiscal 2Q Earnings Snapshot   [07:01AM  Associated Press]
▶ Sally Beauty Q2 Earnings Preview   [May-02-18 03:15PM  Benzinga]
▶ Sally Beauty cutting headquarters staff in cost-saving measure   [Apr-05-18 07:33AM  American City Business Journals]
▶ Jeff Auxier Prefers Undervalued Stocks   [Mar-07-18 12:57PM  GuruFocus.com]
▶ Top 10 Stocks Under $20   [Mar-02-18 01:23PM  Zacks]
▶ Help! My Stock is Stuck in No Man's Land   [Feb-22-18 11:00AM  Zacks]
▶ Sally Beauty Holdings, Inc. Announces First Quarter Results   [Feb-08-18 06:45AM  Business Wire]
▶ Top 10 Stocks Under $20   [Jan-25-18 12:42PM  Zacks]
▶ New Strong Buy Stocks for January 24th   [Jan-24-18 09:15AM  Zacks]
▶ 4 Best Stocks to Counter First Government Shutdown Since 13   [Jan-22-18 11:25AM  InvestorPlace]
▶ [$$] Bad Hair Day   [Dec-11-17 06:00AM  The Wall Street Journal]
▶ Sally Beauty misses Street 4Q forecasts   [07:00AM  Associated Press]
▶ Will Amazon Buy Sally Beauty Supply?   [02:50PM  Benzinga]
▶ 6 Gurus' Stocks With Negative Performances   [Oct-13-17 12:49PM  GuruFocus.com]
▶ Top Ranked Value Stocks to Buy for October 2nd   [Oct-02-17 08:21AM  Zacks]
▶ 3 Ultra Cheap Value Stocks   [Sep-27-17 09:24PM  Zacks]
▶ Weekly CEO Buys Highlights   [Aug-28-17 12:26PM  GuruFocus.com]
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