THE VALUE LINE Ratings Pages 700-850 File in the Binder in Order of ® & Issue Number, Removing Investment Survey Previous Issue Bearing Reports the Same Number
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ISSUE 4 Part 3 THE VALUE LINE Ratings Pages 700-850 File in the binder in order of ® & issue number, removing Investment Survey previous issue bearing Reports the same number. www.valueline.com December 6, 2019 PAGE PAGE ESPECIALLY NOTEWORTHY: AEROSPACE/DEFENSE Erie Indemnity Co. ........................... 763 INDUSTRY .............................................. 701 ★ First American Fin’l .......................... 764 Our subscribers should be aware that, AAR Corp. ......................................... 702 ★ Hanover Insurance Group, Inc. ........ 765 in this week’s Issue of The Value Line AeroVironment, Inc. .......................... 703 Markel Corp. ..................................... 766 Investment Survey, we replaced the In- Astronics Corporation ....................... 704 Mercury General Corp. ..................... 767 sider Decisions box with the 18-Month Axon Enterprise ................................ 705 ★ NMI Holdings .................................... 768 Boeing Co. ......................................... 706 Old Republic International .............. 769 Target Price Range, which seeks to pre- Bombardier Inc. ‘B’ ........................... 707 ★ Progressive Corp. .............................. 770 dict a stock’s price range over an 18- ★ CAE Inc. ............................................ 708 ★★ RLI Corp. .......................................... 771 month period. In addition to the high Elbit Systems Ltd. ........................... 709 Selective Insurance Group ................ 772 and low values of the range, the per- Embraer SA (ADR) ............................ 710 Travelers (The) Cos., Inc. ................. 773 ★ General Dynamics ............................ 711 centage difference between the recent ★ HEICO Corporation .......................... 712 BANK (MIDWEST) stock price and the midpoint of the range Huntington Ingalls Industries ......... 713 INDUSTRY .............................................. 774 is provided. The quantitative formula Kratos Defense & Security ............... 714 Associated Banc-Corp ....................... 775 behind the 18-month range includes a ★ Lockheed Martin Corp. ..................... 715 BOK Financial Corp. ........................ 776 Maxar Technologies .......................... 716 Comerica Inc. .................................... 777 number of variables, such as our ana- Moog Inc. ‘A’....................................... 717 Commerce Bancshares, Inc. ............. 778 lyst estimates and historical figures. Northrop Grumman Corp. ................ 718 Fifth Third Bancorp .......................... 779 Parsons Corp. ................................... 719 First Horizon Nat’l ........................... 780 Meanwhile, Lockheed Martin (page Raytheon Co. ..................................... 720 First Midwest Bancorp ..................... 781 715) continues to post impressive earn- Spirit AeroSystems Holdings, Inc..... 721 Hancock Whitney Corp. .................... 782 ings. The stock is an appealing choice ★★ Teledyne Technologies ...................... 722 Huntington Bancshares .................... 783 ★ TransDigm Group ............................. 723 Northern Trust Corp. ........................ 784 for various types of investors. Triumph Group, Inc. ......................... 724 Old National Bancorp ...................... 785 Wesco Aircraft .................................... 725 Park National Corporation .............. 786 First Horizon National plans to TCF Financial Corp. ......................... 787 merge with IBERIABANK. See page METAL FABRICATING INDUSTRY .. 726 ★ U.S. Bancorp ..................................... 788 780 for the details. Chart Industries, Inc. ....................... 727 Wintrust Financial Corporation ...... 789 DMC Global ...................................... 728 Shares of both Commercial Metals Haynes International, Inc. ............... 729 MEDICAL SERVICES Illinois Tool Works ............................ 730 INDUSTRY .............................................. 790 (page 741) and Progressive Corp. Kennametal Inc. ............................... 731 ★ Amedisys, Inc. ................................... 791 (page 770) are timely and offer appeal- Mueller Industries, Inc. .................... 732 Anthem, Inc. ..................................... 792 ing potential returns over the 18-month NN, Inc. ............................................. 733 Brookdale Senior Living Inc. ............ 793 span and to 2022-2024. Tenaris S.A. ....................................... 734 Centene Corp. ................................... 794 The Timken Co. ................................ 735 ★ Cigna Corporation............................. 795 Community Health Systems, Inc. .... 796 Premier, Inc. ...................................... 824 STEEL INDUSTRY ............................... 736 ★ DaVita Inc. ........................................ 797 Teladoc Health, Inc. .......................... 825 AK Steel Holdings............................. 737 ★ Encompass Health ........................... 798 Veeva Systems Inc. ........................... 826 ArcelorMittal ..................................... 738 ★ Exact Sciences Corp. ......................... 799 ★ Carpenter Technology Corp. ............. 739 Fresenius Medical Care (ADR)......... 800 BIOTECHNOLOGY INDUSTRY .......... 827 Cleveland-Cliffs ................................. 740 HCA Healthcare ................................ 801 Alkermes plc ..................................... 828 ★ Commercial Metals ........................... 741 ★ Humana Inc. ..................................... 802 Alnylam Pharmaceuticals, Inc. ........ 829 ★ Gibraltar Industries ......................... 742 ★ ICON plc ............................................ 803 Amgen Inc. ........................................ 830 Insteel Industries ............................. 743 ★ IQVIA Holdings ................................. 804 Bio-Techne Corp. ............................... 831 Nucor Corp. ....................................... 744 ★ Laboratory Corp. of America ............ 805 BioMarin Pharmaceutical Inc. ......... 832 POSCO (ADR) ................................... 745 MEDNAX, Inc. .................................. 806 Cambrex Corp. .................................. 833 Reliance Steel & Aluminum.............. 746 ★ Medpace Holdings............................. 807 Exelixis, Inc. ...................................... 834 Russel Metals ................................... 747 Molina Healthcare ............................ 808 Incyte Corporation ............................ 835 Schnitzer Steel Industries, Inc. ........ 748 ★ PRA Health Sciences ......................... 809 Intercept Pharmaceuticals ............... 836 Steel Dynamics, Inc. ......................... 749 ★ Quest Diagnostics............................. 810 Ionis Pharmaceuticals ...................... 837 TimkenSteel Corp. ............................ 750 Select Medical Holdings Corp. .......... 811 Jazz Pharmaceuticals PLC.............. 838 U.S. Steel Corp. ................................ 751 ★ Syneos Health ................................... 812 Moderna ............................................ 839 Worthington Industries .................... 752 Tenet Healthcare Corp. .................... 813 Myriad Genetics ................................ 840 Tivity Health ..................................... 814 QIAGEN N.V. .................................... 841 INSURANCE (PROPERTY/ ★ UnitedHealth Group ......................... 815 Regeneron Pharmaceuticals, Inc. ..... 842 CASUALTY) INDUSTRY ...................... 753 ★ Universal Health Services, Inc. ........ 816 Seattle Genetics, Inc......................... 843 ★ Alleghany Corp. ................................ 754 WellCare Health Plans ..................... 817 United Therapeutics Corp. ............... 844 ★ Allstate Corp. .................................... 755 Vertex Pharmaceuticals Inc. ............ 845 ★ American Financial Group ............... 756 HEALTHCARE INFORMATION ★★ Arch Capital Group Ltd. .................. 757 SERVICES INDUSTRY ........................ 818 SUPPLEMENTARY REPORTS .......... 850 ★★ Berkley (W.R.) ................................... 758 Allscripts Healthcare Solutions, Inc. 819 ★ Berkshire Hathaway ‘B’ ................... 759 ★ Cerner Corp. ...................................... 820 CNA Financial Corp. ......................... 760 Computer Programs & Sys., Inc. ..... 821 ★★★★★★ Rank 1 (Highest) for Timeliness. ★ Chubb Ltd......................................... 761 HealthEquity, Inc.............................. 822 ★★★ Rank 2 (Above Average). ★★ Cincinnati Financial ......................... 762 NextGen Healthcare ......................... 823 In three parts: Part 1 is the Summary & Index. Part 2 is Selection & Opinion. This is Part 3, Ratings & Reports. Volume LXXV, No. 17 Published weekly by VALUE LINE PUBLISHING LLC, 551 Fifth Avenue, New York, NY 10176. © 2019 Value Line, Inc. All rights reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. THE PUBLISHER IS NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN. This publication is strictly for each subscriber’s own, non-commercial, internal use. No part of this publication may be reproduced, resold, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. See back cover for important disclosures. December 6, 2019 ECONOMIC SERIES