EQUITY RESEARCH TEAM
Oil & Gas Exploration & Production Specialty Chemicals; Coatings Diversified Industrials; Flow Control Mike Kelly, CFA 713.658.6302 Michael Harrison, CFA 312.706.2717 Walt Liptak 312.706.2704
Energy Infrastructure/MLPs Airfreight & Logistics; Maritime Building Products & Furnishings Sunil Sibal 646.832.3226 Transportation; Trucking Matt McCall, CFA 804.939.5277 Kevin Sterling, CFA 804.939.5269 Reuben Garner, CFA 804.939.5266 Gas Utilities; Coal; Railroads Mark Levin 804.939.5262 Aerospace & Defense Paper & Forest Products; Building Josh Sullivan 646.832.3237 Products; Homebuilders Mark Weintraub 646.264.5602 Automotive Michael Ward, CFA 212.949.1484 Cannabis; Ingredients Brett Hundley, CFA 804.939.5268
Director of Equity Research Equity Sales & Trading Equity Research Library Justin Cable 949.274.8055 Toll Free 855.447.3100 http://sgslibrary.bluematrix.com/client/login.jsp (login required) Research Offices Co-Head of Equity Sales; Head of Equity New York Trading Seaport Global website Chicago Scott Lynch 646.264.5604 www.seaportglobal.com Houston Richmond Co-Head of Equity Sales Costa Mesa Tim Arthurs 312.706.2701
November 25, 2019 EQUITY COVERAGE UNIVERSE
Oil & Gas Exploration & Production Energy Infrastructure/MLPs Mike Kelly, CFA Sunil Sibal Partner, Head of E&P Research Managing Director 713.658.6302 Senior Analyst [email protected] 646.832.3226 [email protected]
Abraxas Petroleum Corp. (AXAS) Lilis Energy, Inc. (LLEX) ONEOK Inc. (OKE) Apache Corp. (APA) Lonestar Resources Ltd. (LONE) Plains All American Pipeline, L.P. (PAA) Brigham Minerals, Inc. (MNRL) Marathon Oil Corp. (MRO) Plains GP Holdings, L.P. (PAGP) Cabot Oil & Gas Corp. (COG) Matador Resources Company (MTDR) Rattler Midstream LP (RTLR) Callon Petroleum Company (CPE) Northern Oil and Gas, Inc. (NOG) Targa Resources Corp (TRGP) Carrizo Oil & Gas, Inc. (CRZO) Parsley Energy, Inc. (PE) Tellurian Inc. (TELL) Centennial Resource Development Inc. (CDEV) PDC Energy Inc. (PDCE) Williams Companies, Inc. (WMB) Cimarex Energy Corp. (XEC) Pioneer Natural Resources Company (PXD) Comstock Resources, Inc. (CRK) Rosehill Resources Inc. (ROSE) Concho Resources Inc. (CXO) SM Energy Company (SM) Continental Resources, Inc. (CLR) Sundance Energy Corporation (SNDE) Devon Energy Corp. (DVN) Talos Energy Inc. (TALO) Diamondback Energy, Inc. (FANG) W&T Offshore, Inc. (WTI) Earthstone Energy, Inc. (ESTE) Whiting Petroleum Corp. (WLL) Goodrich Petroleum Corp. (GDP) WildHorse Resource Development Corporation (WRD) HighPoint Resources Corporation (HPR) WPX Energy, Inc. (WPX) Jagged Peak Energy Inc. (JAG)
November 25, 2019 EQUITY COVERAGE UNIVERSE
Coal; Gas Utilities; Railroads; Steel Specialty Chemicals; Coatings Mark A. Levin Michael Harrison, CFA Managing Director Managing Director Senior Analyst Senior Analyst 804.939.5262 312.706.2717 [email protected] [email protected]
Coal Specialty Chemicals Alliance Resource Partners LP (ARLP) Air Products & Chemicals Inc. (APD) Arch Coal, Inc. (ARCH) Albemarle Corporation (ALB) CONSOL Coal Resources LP (CCR) Ashland Inc. (ASH) CONSOL Energy Inc. (CEIX) Cabot Microelectronics Corporation (CCMP) Contura Energy, Inc. (CTRA) Ecolab Inc. (ECL) Natural Resource Partners LP (NRP) Entegris Inc. (ENTG) Peabody Energy Corporation (BTU) Ferro Corporation (FOE) Ramaco Resources, Inc (METC) FMC Corp. (FMC) SunCoke Energy, Inc. (SXC) GCP Applied Technologies Inc. (GCP) Teck Resources Limited (TECK) HB Fuller Co. (FUL) Warrior Met Coal, Inc. (HCC) Huntsman Corporation (HUN) Koppers Holdings Inc. (KOP) Railroads Linde plc (LIN) Canadian National Railway (CNI) Livent Corporation (LTHM) Canadian Pacific Railway Limited (CP) PolyOne Corporation (POL) CSX Corporation (CSX) Quaker Chemical Corp. (KWR) Kansas City Southern (KSU) Stepan Company (SCL) Norfolk Southern Corp. (NSC) W. R. Grace & Co. (GRA) Union Pacific Corporation (UNP) Valvoline Inc. (VVV)
Metals & Mining Coatings Cleveland-Cliffs Inc. (CLF) Axalta Coating Systems Ltd. (AXTA) PPG Industries Inc. (PPG) RPM International Inc. (RPM) Sherwin-Williams Company (SHW)
Other Par Pacific Holdings, Inc. (PARR)
November 25, 2019 EQUITY COVERAGE UNIVERSE
Airfreight & Logistics; Maritime; Automotive Trucking Kevin Sterling, CFA Michael Ward, CFA Managing Director Managing Director Senior Analyst Senior Analyst 804.939.5269 212.949.1484 [email protected] [email protected]
Airfreight & Logistics Adient plc (ADNT) Air Transport Services Group, Inc. (ATSG) AutoNation Inc. (AN) Atlas Air Worldwide Holdings Inc. (AAWW) Aptiv PLC (APTV) Expeditors International of Washington, Inc. (EXPD) BorgWarner Inc. (BWA) FedEx Corporation (FDX) Carvana Co. Cl A (CVNA) Forward Air Corp. (FWRD) Cooper-Standard Holdings Inc. (CPS) Hub Group Inc. (HUBG) Delphi Technologies PLC (DLPH) Radiant Logistics, Inc. (RLGT) Ford Motor Company (F) Ryder System, Inc. (R) General Motors Company (GM) United Parcel Service, Inc. (UPS) Group 1 Automotive Inc. (GPI) World Fuel Services Corp. (INT) Lear Corp. (LEA) XPO Logistics, Inc. (XPO) Lithia Motors Inc. Cl A (LAD) Lyft, Inc. (LYFT) Maritime Penske Automotive Group Inc. (PAG) Kirby Corporation (KEX) Superior Industries, Inc. (SUP) Matson, Inc. (MATX) Seaspan Corporation (SSW)
Trucking ArcBest Corporation (ARCB) Covenant Transportation Group, Inc. (CVTI) Daseke, Inc. (DSKE) Heartland Express, Inc. (HTLD) Knight-Swift Transportation Holdings Inc. (KNX) Marten Transport Ltd. (MRTN) Old Dominion Freight Line Inc. (ODFL) SAIA, Inc. (SAIA) Werner Enterprises Inc. (WERN) YRC Worldwide Inc. (YRCW)
November 25, 2019 EQUITY COVERAGE UNIVERSE
Paper & Forest Products; Building Building Products & Furnishings Products; Homebuilders Matt McCall, CFA Reuben Garner, CFA Mark Weintraub Managing Director Senior Analyst Managing Director Senior Analyst 804.939.5266 Senior Analyst 804.939.5277 [email protected] 646.264.5602 [email protected] [email protected]
Commercial Interiors Wood Building Products Paper & Forest Products Herman Miller, Inc. (MLHR) Boise Cascade Company (BCC) Graphic Packaging Holding Company (GPK) HNI Corp (HNI) Continental Building Products Inc. (CBPX) International Paper Company (IP) Interface, Inc. (TILE) Cornerstone Building Brands, Inc. (CNR) Packaging Corp. Of America (PKG) Knoll Inc (KNL) JELD-WEN Holding, Inc. (JELD) PotlatchDeltic Corporation (PCH) Steelcase Inc. (SCS) Masonite International Corp. (DOOR) Rayonier Inc. (RYN) Owens Corning (OC) WestRock Company (WRK) Diversified Commercial Quanex Building Products Corporation (NX) Weyerhaeuser Co. (WY) Acuity Brands, Inc (AYI) Universal Forest Products Inc. (UFPI) Belden Inc. (BDC) Building Products Louisiana-Pacific Corp. (LPX) Building Products Norbord, Inc. (OSB) Beacon Roofing Supply Inc. (BECN) BMC Stock Holdings, Inc. (BMCH) Homebuilders Builders FirstSource, Inc. (BLDR) D.R. Horton, Inc. (DHI) GMS Inc. (GMS) KB Home (KBH) Installed Building Products Inc. (IBP) Lennar Corporation (LEN) Select Interior Concepts, Inc. (SIC) PulteGroup, Inc. (PHM) TopBuild Corp. (BLD) Toll Brothers, Inc. (TOL) Trex Co. Inc. (TREX)
November 25, 2019 EQUITY COVERAGE UNIVERSE
Aerospace & Defense; Aerospace Diversified Industrials; Flow Control Materials Josh Sullivan Walt Liptak Managing Director Managing Director Senior Analyst Senior Analyst 646.832.3237 312.706.2704 [email protected] [email protected]
Aerospace & Defense Diversified Flow Control AAR Corp. (AIR) Colfax Corporation (CFX) Chart Industries Inc. (GTLS) Air Lease Corp. (AL) Columbus McKinnon Corporation (CMCO) Dover Corporation (DOV) Astronics Corporation (ATRO) Curtiss-Wright Corp. (CW) Flowserve Corporation (FLS) BWX Technologies Inc. (BWXT) Federal Signal Corp. (FSS) Franklin Electric Co., Inc. (FELE) CACI International Inc. (CACI) Gibraltar Industries, Inc. (ROCK) IDEX Corporation (IEX) FLIR Systems, Inc. (FLIR) Graco Inc. (GGG) ITT Corporation (ITT) Harris Corporation (HRS) Illinois Tool Works Inc. (ITW) MRC Global Inc. (MRC) HEICO Corp. (HEI) John Bean Technologies Corporation (JBT) Mueller Water Products, Inc. (MWA) Huntington Ingalls Industries, Inc. (HII) Kadant Inc. (KAI) NOW Inc. (DNOW) Jacobs Engineering Group Inc. (JEC) Kennametal Inc. (KMT) Pentair plc (PNR) Kratos Defense & Security Solutions, Inc. (KTOS) Lennox International, Inc. (LII) SPX Corporation (SPXC) PTC Inc. (PTC) Lincoln Electric Holdings, Inc. (LECO) SPX FLOW, Inc. (FLOW) RBC Bearings Incorporated (ROLL) Nordson Corporation (NDSN) Watts Water Technologies, Inc. (WTS) Spirit AeroSystems Holdings Inc. (SPR) Regal Beloit Corporation (RBC) Xylem Inc. (XYL) Science Applications International Corporation (SAIC) The Middleby Corporation (MIDD) The Boeing Company (BA) Watsco Inc (WSO) United Technologies Corporation (UTX) Welbilt, Inc. (WBT)
Aerospace Materials Arconic Inc. (ARNC) Allegheny Technologies Inc. (ATI) Constellium N.V. (CSTM) Carpenter Technology Corporation (CRS) Kaiser Aluminum Corporation (KALU)
November 25, 2019 EQUITY COVERAGE UNIVERSE
Cannabis; Ingredients Brett Hundley, CFA Managing Director Senior Analyst 804.939.5268 [email protected]
Cannabis Ingredients Acreage Holdings Inc. (ACRGF) Balchem Corporation (BCPC) Aphria Inc. (APHA) Ingredion Inc. (INGR) Aurora Cannabis Inc. (ACB) Innophos Holdings, Inc. (IPHS) Canopy Growth Corporation (CGC) International Flavors & Fragrances Inc. (IFF) Curaleaf Holdings Inc. (CURLF) Sensient Technologies Corporation (SXT) Green Thumb Industries Inc. (GTBIF) HEXO Corp. (HEXO) iAnthus Capital Holdings, Inc. (ITHUF) KushCo Holdings, Inc. (KSHB) MedMen Enterprises Inc. (MMNFF) The Green Organic Dutchman Holdings Ltd. (TGODF) Tilray, Inc. (TLRY)
November 25, 2019 Seaport Global Equity Research Justin Cable www.seaportglobal.com Director of Equity Research 949.274.8055 [email protected]
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November 25, 2019