Downgrades Buy Neutral X

ABG Asbury Automotive

Buckingham Research

Downgrades Buy Neutral X

ACGL Arch Capital

Buckingham Research

$38

Upgrades Neutral Buy X

ADM Archer-Daniels

Buckingham Research

Downgrades Neutral Underperform X

ADNT Adient

Buckingham Research

Upgrades Neutral Buy X

AFG American Fincl

Buckingham Research

$120

Upgrades Underperform Neutral X

AIG American Intl

Buckingham Research

Upgrades Underperform Neutral X

ALL Allstate

Buckingham Research

Downgrades Buy Neutral X

APTV Aptiv

Buckingham Research

Initiated Neutral X

ASH Ashland

Buckingham Research

Downgrades Buy Neutral X

ATI Allegheny Tech

Buckingham Research

$40 $27

Initiated Neutral X

ATVI Activision Blizzard

Buckingham Research

Downgrades Buy Neutral X

AXP American Express

Buckingham Research

Upgrades Neutral Buy X

AXP American Express

Buckingham Research

Upgrades Neutral Buy X

AXS AXIS Capital

Buckingham Research

$60 $70

Downgrades Buy Neutral X

AZUL Azul S.A.

Buckingham Research

Initiated Buy X

BCO Brinks

Buckingham Research

$100

Initiated Neutral X

BECN Beacon Roofing Supply

Buckingham Research

Downgrades Buy Neutral X

BGS B&G Foods

Buckingham Research

$36 $23

Initiated Neutral X

BLDR Builders Firstsource

Buckingham Research

$15

Initiated Buy X

BMCH BMC Stock Holdings

Buckingham Research

Initiated Neutral X

CACC Credit Acceptance Corp.

Buckingham Research

$440

Downgrades Buy Neutral X

CAT Caterpillar

Buckingham Research

$162 $140

Initiated Buy X

CAT Caterpillar

Buckingham Research

$170

Downgrades Buy Neutral X

CCL Carnival

Buckingham Research

$65 $54

Initiated Buy X

CCMP Cabot Micro

Buckingham Research

$130

Initiated Neutral X

CINF Cincinnati Fincl

Buckingham Research

Downgrades Buy Neutral X

CMI Cummins

Buckingham Research

Initiated Buy X

COWN Cowen Group

Buckingham Research

Downgrades Buy Neutral X

CPA Copa Holdings

Buckingham Research

Upgrades Neutral Buy X

CPS Cooper-Standard

Buckingham Research

Downgrades Buy Neutral X

CPS Cooper-Standard

Buckingham Research

Initiated Buy X

CRMT America’s Car-Mart

Buckingham Research

$103

Downgrades Buy Neutral X

CSL Carlisle Cos

Buckingham Research

$148

Initiated Buy X

CURO CURO Group

Buckingham Research

$19

Downgrades Buy Neutral X

CVGW Calavo Growers

Buckingham Research

Resumed Neutral X

DECK Deckers Outdoor

Buckingham Research

Resumed Buy X

DG Dollar General

Buckingham Research

$125

Reiterated Neutral X

DG Dollar General

Buckingham Research

$95 $107

Upgrades Neutral Buy X

DLPH Delphi Technologies

Buckingham Research

$20 $30

Initiated Neutral X

DLPH Delphi Technologies

Buckingham Research

$58

Upgrades Neutral Buy X

DLTR Dollar Tree

Buckingham Research

Resumed Neutral X

DLTR Dollar Tree

Buckingham Research

$92

Initiated Neutral X

DLX Deluxe

Buckingham Research

Initiated Buy X

DRI Darden Restaurants

Buckingham Research

Initiated Buy X

DSKE Daseke

Buckingham Research

$14

Downgrades Buy Neutral X

EA Electronic Arts

Buckingham Research

$103

Initiated Buy X

ECPG Encore Capital

Buckingham Research

$38

Upgrades Underperform Neutral X

EIG Employers Holdings

Buckingham Research

Downgrades Buy Neutral X

ENV Envestnet

Buckingham Research

Initiated Buy X

ENV Envestnet

Buckingham Research

$63

Initiated Neutral X

EVOP EVO Payments

Buckingham Research

$24

Reiterated Neutral X

FAST Fastenal

Buckingham Research

$32 $31

Initiated Neutral X

FAST Fastenal

Buckingham Research

$50

Upgrades Underperform Neutral X

FINL Finish Line

Buckingham Research

Initiated Buy X

FISV Fiserv

Buckingham Research

$100

Reiterated Buy X

FIVE Five Below

Buckingham Research

$78 $115

Resumed Buy X

FL Foot Locker

Buckingham Research

Initiated Buy X

FLOW SPX FLOW

Buckingham Research

$60

Initiated Buy X

FMC FMC Corp

Buckingham Research

$106

Downgrades Buy Neutral X

FOE Ferro

Buckingham Research

$21 $16

Initiated Buy X

FOE Ferro

Buckingham Research

$20

Initiated Buy X

FOR Forestar

Buckingham Research

$23

Initiated Buy X

FOXA 21st Century Fox

Buckingham Research

$54

Downgrades Buy Neutral X

FTDR Frontdoor

Buckingham Research

Initiated Buy X

FTDR Frontdoor

Buckingham Research

$29

Downgrades Neutral Underperform X

GBX Greenbrier

Buckingham Research

$34 $21

Reiterated Buy X

GD General Dynamics

Buckingham Research

$230 $260

Initiated Buy X

GNC GNC Holdings

Buckingham Research

$6

Downgrades Buy Neutral X

GOL GOL Linhas Areas Inteligentes S.A.

Buckingham Research

Downgrades Buy Neutral X

GPI Group 1 Auto

Buckingham Research

$83

Upgrades Neutral Buy X

GPI Group 1 Auto

Buckingham Research

Downgrades Buy Neutral X

GPI Group 1 Auto

Buckingham Research

Initiated Neutral X

GWW Grainger

Buckingham Research

$325

Downgrades Buy Neutral X

HA Hawaiian Holdings

Buckingham Research

Initiated Buy X

HDS HD Supply Holdings

Buckingham Research

Initiated Buy X

HI Hillenbrand

Buckingham Research

$53

Initiated Buy X

HII Huntington Ingalls

Buckingham Research

$297

Initiated Buy X

HLI Houlihan Lokey

Buckingham Research

$54

Downgrades Buy Underperform X

HOME At Home Group

Buckingham Research

Initiated Buy X

HOME At Home Group

Buckingham Research

$43

Initiated Neutral X

HOV Hovnanian

Buckingham Research

Upgrades Neutral Buy X

HRI Herc Holdings

Buckingham Research

Upgrades Neutral Buy X

KBH KB Home

Buckingham Research

Initiated Neutral X

KBH KB Home

Buckingham Research

Downgrades Buy Neutral X

KMX CarMax

Buckingham Research

$94

Upgrades Neutral Buy X

KMX CarMax

Buckingham Research

Downgrades Buy Neutral X

KMX CarMax

Buckingham Research

Upgrades Neutral Buy X

KMX CarMax

Buckingham Research

Initiated Underperform X

KR Kroger

Buckingham Research

Downgrades Buy Neutral X

LAD Lithia Motors

Buckingham Research

Reiterated Buy X

LBTYA Liberty Global

Buckingham Research

$44 $50

Downgrades Buy Neutral X

LEA Lear

Buckingham Research

$140

Upgrades Neutral Buy X

LEA Lear

Buckingham Research

Initiated Buy X

LEN Lennar

Buckingham Research

Initiated Buy X

LKSD LSC Communications

Buckingham Research

Initiated Neutral X

LTHM Livent

Buckingham Research

$18

Upgrades Neutral Buy X

LULU lululemon athletica

Buckingham Research

Upgrades Neutral Buy X

LUV Southwest Air

Buckingham Research

Initiated Buy X

MAS Masco

Buckingham Research

Initiated Buy X

MATW Matthews

Buckingham Research

$61

Upgrades Underperform Neutral X

MHK Mohawk

Buckingham Research

$115 $117

Initiated Underperform X

MHK Mohawk

Buckingham Research

$116

Upgrades Neutral Buy X

MIDD Middleby

Buckingham Research

Initiated Neutral X

MIDD Middleby

Buckingham Research

$115

Downgrades Neutral Underperform X

MKTX Marketaxess

Buckingham Research

$245

Initiated Neutral X

MKTX Marketaxess

Buckingham Research

Initiated Neutral X

MSCI MSCI

Buckingham Research

$171

Initiated Neutral X

MSM MSC Industrial

Buckingham Research

Upgrades Neutral Buy X

NCLH Norwegian Cruise Line

Buckingham Research

Downgrades Buy Neutral X

NCLH Norwegian Cruise Line

Buckingham Research

$77 $56

Upgrades Underperform Neutral X

NEU NewMarket

Buckingham Research

Initiated Underperform X

NEU NewMarket

Buckingham Research

Downgrades Buy Neutral X

NFLX Netflix

Buckingham Research

$382

Upgrades Underperform Buy X

NFLX Netflix

Buckingham Research

$349 $406

Downgrades Neutral Underperform X

NFLX Netflix

Buckingham Research

$333

Upgrades Neutral Buy X

NGVT Ingevity

Buckingham Research

$64 $92

Downgrades Buy Neutral X

NKE NIKE

Buckingham Research

Reiterated Buy X

NKE NIKE

Buckingham Research

$72 $75

Upgrades Neutral Buy X

NOC Northrop Grumman

Buckingham Research

Upgrades Neutral Buy X

NTRS Northern Trust

Buckingham Research

$104 $115

Initiated Buy X

NVR NVR

Buckingham Research

Downgrades Buy Neutral X

NVT nVent Electric

Buckingham Research

$29 $23

Initiated Buy X

NVT nVent Electric

Buckingham Research

$30

Initiated Neutral X

OC Owens Corning

Buckingham Research

$54

Initiated Neutral X

OSK Oshkosh

Buckingham Research

$76

Downgrades Buy Neutral X

PF Pinnacle Foods

Buckingham Research

Initiated Buy X

PFGC Performance Food Group

Buckingham Research

Upgrades Underperform Neutral X

PGR Progressive

Buckingham Research

Upgrades Neutral Buy X

PH Parker-Hannifin

Buckingham Research

Initiated Neutral X

PHM PulteGroup

Buckingham Research

$30

Upgrades Neutral Buy X

PHM PulteGroup

Buckingham Research

Initiated Buy X

POL PolyOne

Buckingham Research

Initiated Neutral X

PRAA PRA Group

Buckingham Research

Downgrades Buy Neutral X

PYPL PayPal

Buckingham Research

$99

Initiated Buy X

QUAD Quad/Graphics

Buckingham Research

$28

Upgrades Neutral Buy X

RL Ralph Lauren

Buckingham Research

Initiated Neutral X

ROL Rollins

Buckingham Research

$50

Upgrades Neutral Buy X

RRD RR Donnelley & Sons

Buckingham Research

Downgrades Buy Neutral X

RTN Raytheon

Buckingham Research

$265 $195

Upgrades Neutral Buy X

RUSHA Rush Enterprises

Buckingham Research

$53

Initiated Neutral X

SAFM Sanderson Farms

Buckingham Research

Initiated Buy X

SAIA Saia

Buckingham Research

$93

Upgrades Neutral Buy X

SAVE Spirit Airlines

Buckingham Research

Initiated Neutral X

SC Santander Consumer USA

Buckingham Research

$24

Downgrades Buy Neutral X

SERV ServiceMaster

Buckingham Research

$53

Initiated Buy X

SERV ServiceMaster

Buckingham Research

$64

Initiated Neutral X

SFIX Stitch Fix

Buckingham Research

Initiated Neutral X

SFM Sprouts Farmers Market

Buckingham Research

Initiated Neutral X

SFS Smart & Final Stores

Buckingham Research

Resumed Buy X

SHOO Steven Madden

Buckingham Research

Initiated Neutral X

SIGI Selective Insurance

Buckingham Research

Upgrades Neutral Buy X

SIRI Sirius XM Radio

Buckingham Research

Downgrades Buy Neutral X

SIRI Sirius XM Radio

Buckingham Research

Resumed Buy X

SKX Skechers USA

Buckingham Research

Upgrades Neutral Buy X

SPOT Spotify

Buckingham Research

$175 $195

Initiated Neutral X

SPOT Spotify

Buckingham Research

$175

Reiterated Buy X

SQ Square

Buckingham Research

$85 $105

Upgrades Neutral Buy X

SQ Square

Buckingham Research

Downgrades Buy Neutral X

SQ Square

Buckingham Research

$55 $65

Initiated Buy X

SRI Stoneridge

Buckingham Research

$37

Initiated Buy X

SYF Synchrony Financial

Buckingham Research

Initiated Buy X

SYY Sysco

Buckingham Research

Initiated Buy X

THG Hanover Insurance

Buckingham Research

Initiated Neutral X

TOL Toll Brothers

Buckingham Research

Resumed Buy X

TPR Tapestry

Buckingham Research

$62

Downgrades Buy Neutral X

TRN Trinity Industries

Buckingham Research

$32 $26

Downgrades Buy Neutral X

TRV Travelers

Buckingham Research

$158

Initiated Neutral X

TSN Tyson Foods

Buckingham Research

Resumed Buy X

TTWO Take-Two

Buckingham Research

$130

Downgrades Buy Neutral X

UNFI United Natural Foods

Buckingham Research

Upgrades Neutral Buy X

URI United Rentals

Buckingham Research

Upgrades Neutral Buy X

USFD US Foods

Buckingham Research

$32 $48

Initiated Neutral X

USFD US Foods

Buckingham Research

Downgrades Buy Neutral X

VR Validus Holdings

Buckingham Research

Initiated Neutral X

VVV Valvoline

Buckingham Research

$20

Downgrades Buy Neutral X

WAB Wabtec

Buckingham Research

Initiated Buy X

WBT Welbilt

Buckingham Research

$24

Downgrades Buy Neutral X

WCC Wesco

Buckingham Research

Downgrades Buy Neutral X

WFC Wells Fargo

Buckingham Research

$65 $53

Initiated Neutral X

WHR Whirlpool

Buckingham Research

$135

Initiated Neutral X

WMT Wal-Mart

Buckingham Research

Initiated Neutral X

WSO Watsco

Buckingham Research

Resumed Neutral X

WWW Wolverine

Buckingham Research