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The Wax Report - Week Ending 08/26/2016

August 27, 2016 – Comments (0) | RELATED TICKERS: UA , WU

The hydrocarbon poor Wax Ink Portfolio was down 0.2% for the week.

By comparison, the Dow was down 0.8%, the Nasdaq was down 0.4%, the S&P 500 was down 0.7%, the Russell 2000 was up 0.2%, and the Volatility Index, commonly known as the VIX, was up 20.4%.

Year to date, the Wax Ink portfolio is down 14.7% on a per share held basis, the Dow is up 5.6%, the Nasdaq is up 4.2%, the S&P 500 is up 6.1%, the Russell 2000 is up 9.1%, and the VIX is lower by 14.7%.

Portfolio Summary
The portfolio breakdown is roughly 55% cash, 45% equities, and 0% bonds. The current cash value on a per share basis is $28.94 and the current equity value on a per share basis is $23.77 making the average per share price $52.72. The average baseline valuation estimate of all equities currently held in the Wax Ink Portfolio is $30.92 and the average market valuation of all equities held in the Wax Ink Portfolio was $30.20, making the current portfolio equilibrium factor (2.02%).

Hydrocarbon Prices
Two numbers often watched by oil traders are Crude Spread (Brent Crude less WTI Crude) as well as the Gulf Coast Crack Spread (two barrels of gasoline + one barrel of heating oil – three barrels of crude oil) / 3). These numbers are now apart of The Wax Report.

WTI Crude ended the week at $47.64, down 1.8%, while Brent Crude ended the week at $49.92, down 1.9%, creating a crude price spread of $2.28, a change of (3.4%) for the week. Distillate RBOB Gasoline ended the week at $1.5128, down 0.001%, and Heating Oil ended the week at $1.4972, down 1.2%, moving the Gulf Coast 3:2:1 Crack Spread to $15.68, up 4.1% for the week. Natural Gas ended the week at $2.87, up 11.7%.

Year to date WTI Crude is higher by 28.6%, Brent Crude is higher by 33.9%, Natural Gas is higher by 22.6%, RBOB Gasoline is higher by 19.0%, Heating Oil is higher by 32.9%, and the Gulf Coast 3:2:1 Crack Spread is higher by 9.5%.

Treasury and Bond Yields
The 5 Year Treasury ended the week at 1.22, up 7.0%, while the 10 Year Treasury ended the week at 1.61, up 3.2%. The 5 Year AAA Municipal Bond ended the week at 0.77, down 12.5%, and the 10 Year AAA Municipal Bond ended the week at 1.27, down 4.5%. Lastly, the 5 Year AAA Corporate closed the week at 1.57, up 3.3%, with the 10 Year AAA Corporate ending the week up 1.7% at 2.35.

Year to date the 5 Year Treasury is down 29.9%, the 10 Year Treasury is down 28.4%, the 5 Year AAA Muni is down 37.9%, the 10 year AAA Muni is down 40.7%, the 5 Year AAA Corporate is down 17.4%, and the 10 Year AAA Corporate is down 19.5%.

Baseline Valuation Estimates and Worksheets
Baseline Valuation Estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance or investing philosophy.

Financial data used in the creation of each Baseline Valuation Estimate is the most recent SEC 10-K ANNUAL financial data as reported to the U.S. Securities and Exchange Commission.

Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets
Worksheets were either created or updated during the week for the following companies.

Hanesbrands, Inc. (NYSE: HBI) - FYE 12/2015
Under Armour, Inc. (NYSE: UA) - FYE 12/2015
LB Foster Company (Nasdaq: FSTR) - FYE 12/2015
The Western Union Company, Inc. (NYSE: WU) - FYE 12/2015
MSA Safety, Inc. (NYSE: MSA) - FYE 12/2015

Baseline Valuation Estimates
Baseline valuation estimates are determined through fundamental analysis of the listed company's financial information. Because these valuations are never exact, what is presented here is a baseline valuation range. Baseline valuation estimates were either created or updated during the week for the following companies:

Hanesbrands, Inc. - $18-$22
Under Armour, Inc. - $23-$34
LB Foster Company - $46-$54
The Western Union Company, Inc. - $19-$22
MSA Safety, Inc. - $35-$41

Growth Only Valuation Estimates
Growth only valuations are determined utilizing current pricing levels, year over year earnings growth, dividend yield, the current PE ratio, and an earnings growth estimate. Because growth only valuations are EXTREMELY volatile, what is presented here is a single growth only valuation estimate. Growth only valuation estimates were either created or updated during the week for the following companies:

Hanesbrands, Inc. - $28
Under Armour, Inc. - $43
LB Foster Company - $89
The Western Union Company, Inc. - $22
MSA Safety, Inc. - $57

Investment Summaries
Investment summaries are determined based on fundamental valuation of the underlying equity AND a minimum hold of 60 months (5 years). Investment summaries were issued during the week for the following companies:

Hanesbrands, Inc. - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

Under Armour, Inc. - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

LB Foster Company - Positive - the current baseline valuation and key performance indicators (KPIs) favor investment consideration at this time (Buy)

The Western Union Company, Inc. - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)

MSA Safety, Inc. - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

Have a great week.

Wax

Wax Ink is a baseline equity valuation company not licensed or registered with any government agency
Copyright © 2016 Wax Ink  [more]

Recs

1

The Wax Report - Week Ending 08/19/2016

August 20, 2016 – Comments (0) | RELATED TICKERS: CE , CVX , XOM

The very poorly managed Wax Ink Portfolio was up 0.8% for the week.

By comparison, the Dow was down 0.1%, the Nasdaq was up 0.1%, the S&P 500 was unchanged, the Russell 2000 was up 0.6%, and the Volatility Index, commonly known as the VIX, was down 1.8%.

Year to date, the Wax Ink portfolio is down 14.6% on a per share held basis, the Dow is up 6.5%, the Nasdaq is up 4.6%, the S&P 500 is up 6.8%, the Russell 2000 is up 8.9%, and the VIX is lower by 37.7%.

Portfolio Summary
The portfolio breakdown is roughly 55% cash, 45% equities, and 0% bonds. The current cash value on a per share basis is $28.94 and the current equity value on a per share basis is $23.87 making the average per share price $52.82. The average baseline valuation estimate of all equities currently held in the Wax Ink Portfolio is $30.92 and the average market valuation of all equities held in the Wax Ink Portfolio was $30.50, making the current portfolio equilibrium factor (1.38%).

Hydrocarbon Prices
Two numbers often watched by oil traders are Crude Spread (Brent Crude less WTI Crude) as well as the Gulf Coast Crack Spread (two barrels of gasoline + one barrel of heating oil – three barrels of crude oil) / 3). These numbers are now apart of The Wax Report.

WTI Crude ended the week at $48.52, up 9.1%, while Brent Crude ended the week at $50.88, up 8.3%, creating a crude price spread of $2.36, a change of (4.8%) for the week. Distillate RBOB Gasoline ended the week at $1.5129, up 10.4%, and Heating Oil ended the week at $1.5158, up 7.6%, moving the Gulf Coast 3:2:1 Crack Spread to $15.06, up 10.6% for the week. Natural Gas ended the week at $2.57, down 1.2%.

Year to date WTI Crude is higher by 31.0%, Brent Crude is higher by 36.5%, Natural Gas is higher by 9.8%, RBOB Gasoline is higher by 19.0%, Heating Oil is higher by 34.6%, and the Gulf Coast 3:2:1 Crack Spread is higher by 5.2%.

Treasury and Bond Yields
The 5 Year Treasury ended the week at 1.14, up 6.5%, while the 10 Year Treasury ended the week at 1.56, up 4.7%. The 5 Year AAA Municipal Bond ended the week at 0.88, up 1.1%, and the 10 Year AAA Municipal Bond ended the week at 1.33, down 7.0%. Lastly, the 5 Year AAA Corporate closed the week at 1.52, up 7.8%, with the 10 Year AAA Corporate ending the week up 3.6% at 2.31.

Year to date the 5 Year Treasury is down 34.5%, the 10 Year Treasury is down 30.7%, the 5 Year AAA Muni is down 29.0%, the 10 year AAA Muni is down 37.9%, the 5 Year AAA Corporate is down 20.0%, and the 10 Year AAA Corporate is down 20.9%.

Baseline Valuation Estimates and Worksheets
Baseline Valuation Estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance or investing philosophy.

Financial data used in the creation of each Baseline Valuation Estimate is the most recent SEC 10-K ANNUAL financial data as reported to the U.S. Securities and Exchange Commission.

Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets
Worksheets were either created or updated during the week for the following companies.

Celanese Corporation (NYSE: CE) - FYE 12/2015
Chevron Corporation (NYSE: CVX) - FYE 12/2015
Exxon Mobile Corporation (NYSE: XOM) - FYE 12/2015
Whiting Petroleum Corporation (NYSE: WLL) - FYE 12/2015
Newell Rubbermaid, Inc. (NYSE: NWL) - FYE 12/2015

Baseline Valuation Estimates
Baseline valuation estimates are determined through fundamental analysis of the listed company's financial information. Because these valuations are never exact, what is presented here is a baseline valuation range. Baseline valuation estimates were either created or updated during the week for the following companies:

Celanese Corporation - $7-$13
Chevron Corporation - $93-$99
Exxon Mobile Corporation - $74-$76
Whiting Petroleum Corporation - ($15-$18)
Newell Rubbermaid, Inc. - $26-$28

Growth Only Valuation Estimates
Growth only valuations are determined utilizing current pricing levels, year over year earnings growth, dividend yield, the current PE ratio, and an earnings growth estimate. Because growth only valuations are EXTREMELY volatile, what is presented here is a single growth only valuation estimate. Growth only valuation estimates were either created or updated during the week for the following companies:

Celanese Corporation - $65
Chevron Corporation - $57
Exxon Mobile Corporation - $67
Whiting Petroleum Corporation - ($49)
Newell Rubbermaid, Inc. - $56

Investment Summaries
Investment summaries are determined based on fundamental valuation of the underlying equity AND a minimum hold of 60 months (5 years). Investment summaries were issued during the week for the following companies:

Celanese Corporation - Negative - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

Chevron Corporation - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)

Exxon Mobile Corporation - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)

Whiting Petroleum Corporation - Negative - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

Newell Rubbermaid, Inc. - Negative - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

Have a great week.

Wax

Wax Ink is a baseline equity valuation company not licensed or registered with any government agency
Copyright © 2016 Wax Ink  [more]

Recs

1

The Wax Report - Week Ending 08/12/2016

August 13, 2016 – Comments (0) | RELATED TICKERS: MATX , AN , RIG

The very poorly managed Wax Ink Portfolio was up 0.1% for the week.

By comparison, the Dow was up 0.2%, the Nasdaq was up 0.2%, the S&P 500 was up 0.1%, the Russell 2000 was down 0.1%, and the Volatility Index, commonly known as the VIX, was up 1.4%.

Year to date, the Wax Ink portfolio is down 15.3% on a per share held basis, the Dow is up 6.6%, the Nasdaq is up 4.5%, the S&P 500 is up 6.9%, the Russell 2000 is up 8.3%, and the VIX is lower by 36.6%.

Portfolio Summary
The portfolio breakdown is roughly 55% cash, 45% equities, and 0% bonds. The current cash value on a per share basis is $28.94 and the current equity value on a per share basis is $23.44 making the average per share price $52.38. The average baseline valuation estimate of all equities currently held in the Wax Ink Portfolio is $30.92 and the average market valuation of all equities held in the Wax Ink Portfolio was $29.93, making the current portfolio equilibrium factor (3.21%).

Hydrocarbon Prices
Two numbers often watched by oil traders are Crude Spread (Brent Crude less WTI Crude) as well as the Gulf Coast Crack Spread (two barrels of gasoline + one barrel of heating oil – three barrels of crude oil) / 3). These numbers are now apart of The Wax Report.

WTI Crude ended the week at $44.47, up 6.4%, while Brent Crude ended the week at $46.97, up 6.1%, creating a crude price spread of $2.48, a change of 0.4% for the week. Distillate RBOB Gasoline ended the week at $1.3709, down 0.4%, and Heating Oil ended the week at $1.4086, up 7.0%, moving the Gulf Coast 3:2:1 Crack Spread to $13.62, down 10.2% for the week. Natural Gas ended the week at $2.60, down 6.1%.

Year to date WTI Crude is higher by 20.1%, Brent Crude is higher by 26.0%, Natural Gas is higher by 11.1%, RBOB Gasoline is higher by 7.9%, Heating Oil is higher by 25.1%, and the Gulf Coast 3:2:1 Crack Spread is lower by 4.9%.

Treasury and Bond Yields
The 5 Year Treasury ended the week at 1.07, down 4.5%, while the 10 Year Treasury ended the week at 1.49, down 5.1%. The 5 Year AAA Municipal Bond ended the week at 0.87, down 2.2%, and the 10 Year AAA Municipal Bond ended the week at 1.43, down 4.7%. Lastly the rear, the 5 Year AAA Corporate closed the week at 1.41, down 1.4%, with the 10 Year AAA Corporate ending the week down 2.2% at 2.26.

Year to date the 5 Year Treasury is down 38.5%, the 10 Year Treasury is down 33.8%, the 5 Year AAA Muni is down 29.8%, the 10 year AAA Muni is down 33.2%, the 5 Year AAA Corporate is down 25.8%, and the 10 Year AAA Corporate is down 22.6%.

Baseline Valuation Estimates and Worksheets
Baseline Valuation Estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance or investing philosophy.

Financial data used in the creation of each Baseline Valuation Estimate is the most recent SEC 10-K ANNUAL financial data as reported to the U.S. Securities and Exchange Commission.

Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets
Worksheets were either created or updated during the week for the following companies.

Matson, Inc. (Nasdaq: MATX) - FYE 12/2015
AutoNation, Inc. (NYSE: AN) - FYE 12/2015
Aegean Marine Petroleum Network, Inc. (NYSE: ANW) - FYE 12/2015
Transocean, plc (NYSE: RIG) - FYE 12/2015
Unit Corporation (NYSE: UNT) - FYE 12/2015

Baseline Valuation Estimates
Baseline valuation estimates are determined through fundamental analysis of the listed company's financial information. Because these valuations are never exact, what is presented here is a baseline valuation range. Baseline valuation estimates were either created or updated during the week for the following companies:

Matson, Inc. - $31-$37
AutoNation, Inc. - $44-$50
Aegean Marine Petroleum Network, Inc. - $20-$26
Transocean, plc - $81-$87
Unit Corporation - $82-$100

Growth Only Valuation Estimates
Growth only valuations are determined utilizing current pricing levels, year over year earnings growth, dividend yield, the current PE ratio, and an earnings growth estimate. Because growth only valuations are EXTREMELY volatile, what is presented here is a single growth only valuation estimate. Growth only valuation estimates were either created or updated during the week for the following companies:

Matson, Inc. - $58
AutoNation, Inc. - $61
Aegean Marine Petroleum Network, Inc. - $6
Transocean, plc - $181
Unit Corporation - $815

Investment Summaries
Investment summaries are determined based on fundamental valuation of the underlying equity AND a minimum hold of 60 months (5 years). Investment summaries were issued during the week for the following companies:

Matson, Inc. - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)

AutoNation, Inc. - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)

Aegean Marine Petroleum Network, Inc. - Positive - the current baseline valuation and key performance indicators (KPIs) favor investment consideration at this time (Buy)

Transocean, plc - Positive - the current baseline valuation and key performance indicators (KPIs) favor investment consideration at this time (Buy)

Unit Corporation - Positive - the current baseline valuation and key performance indicators (KPIs) favor investment consideration at this time (Buy)

Have a great week.

Wax

Wax Ink is a baseline equity valuation company not licensed or registered with any government agency
Copyright © 2016 Wax Ink  [more]

Recs

1

The Wax Report - Week Ending 08/05/2016

August 06, 2016 – Comments (0) | RELATED TICKERS: AVAV , AMWD , PDCO

The very poorly managed Wax Ink Portfolio was up 0.4% for the week.

By comparison, the Dow was up 0.6%, the Nasdaq was up 1.1%, the S&P 500 was up 0.4%, the Russell 2000 was up 0.9%, and the Volatility Index, commonly known as the VIX, was down 4.0%.

Year to date, the Wax Ink portfolio is down 15.4% on a per share held basis, the Dow is up 6.4%, the Nasdaq is up 4.3%, the S&P 500 is up 6.8%, the Russell 2000 is up 8.4%, and the VIX is lower by 37.5%.

Portfolio Summary
The portfolio breakdown is roughly 56% cash, 44% equities, and 0% bonds. The current cash value on a per share basis is $28.94 and the current equity value on a per share basis is $23.38 making the average per share price $52.32. The average baseline valuation estimate of all equities currently held in the Wax Ink Portfolio is $30.92 and the average market valuation of all equities held in the Wax Ink Portfolio was $29.79, making the current portfolio equilibrium factor (3.66%).

Hydrocarbon Prices
Two numbers often watched by oil traders are Crude Spread (Brent Crude less WTI Crude) as well as the Gulf Coast Crack Spread (two barrels of gasoline + one barrel of heating oil – three barrels of crude oil) / 3). These numbers are now apart of The Wax Report.

WTI Crude ended the week at $41.80, up 0.5%, while Brent Crude ended the week at $44.27, up 1.7%, creating a crude price spread of $2.47, a change of 28.0% for the week. Distillate RBOB Gasoline ended the week at $1.3763, up 4.2%, and Heating Oil ended the week at $1.3170, up 0.7%, moving the Gulf Coast 3:2:1 Crack Spread to $15.17, up 10.8% for the week. Natural Gas ended the week at $2.77, down 3.8%.

Year to date WTI Crude is higher by 12.9%, Brent Crude is higher by 18.8%, Natural Gas is higher by 18.4%, RBOB Gasoline is higher by 8.3%, Heating Oil is higher by 16.9%, and the Gulf Coast 3:2:1 Crack Spread is higher by 6.0%.

Treasury and Bond Yields
The 5 Year Treasury ended the week at 1.12, up 12%, while the 10 Year Treasury ended the week at 1.57, up 9.8%. The 5 Year AAA Municipal Bond ended the week at 0.89, up 7.2%, and the 10 Year AAA Municipal Bond ended the week at 1.50, up 10.3%. Bringing up the rear, the 5 Year AAA Corporate closed the week at 1.43, up 26.5%, with the 10 Year AAA Corporate ending the week up 8.5% at 2.31.

Year to date the 5 Year Treasury is down 35.6%, the 10 Year Treasury is down 30.2%, the 5 Year AAA Muni is down 28.2%, the 10 year AAA Muni is down 29.9%, the 5 Year AAA Corporate is down 24.7%, and the 10 Year AAA Corporate is down 20.9%.

Baseline Valuation Estimates and Worksheets
Baseline Valuation Estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance or investing philosophy.

Financial data used in the creation of each Baseline Valuation Estimate is the most recent SEC 10-K ANNUAL financial data as reported to the U.S. Securities and Exchange Commission.

Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets
Worksheets were either created or updated during the week for the following companies.

AeroVironment, Inc. (Nasdaq: AVAV) - FYE 04/2016
American Woodmark Corporation (Nasdaq: AMWD) - FYE 04/2016
Patterson Companies, Inc. (Nasdaq: PDCO) - FYE 04/2016
Finisar Corporation (Nasdaq: FNSR) - FYE 04/2016
Dawson Geophysical Company (Nasdaq: DWSN) - FYE 12/2015

Baseline Valuation Estimates
Baseline valuation estimates are determined through fundamental analysis of the listed company's financial information. Because these valuations are never exact, what is presented here is a baseline valuation range. Baseline valuation estimates were either created or updated during the week for the following companies:

AeroVironment, Inc. - $36-$35
American Woodmark Corporation - $52-$60
Patterson Companies, Inc. - $41-$43
Finisar Corporation - $20-$27
Dawson Geophysical Company - $18-$25

Growth Only Valuation Estimates
Growth only valuations are determined utilizing current pricing levels, year over year earnings growth, dividend yield, the current PE ratio, and an earnings growth estimate. Because growth only valuations are EXTREMELY volatile, what is presented here is a single growth only valuation estimate. Growth only valuation estimates were either created or updated during the week for the following companies:

AeroVironment, Inc. - $30
American Woodmark Corporation - $87
Patterson Companies, Inc. - $90
Finisar Corporation - $19
Dawson Geophysical Company - $6

Investment Summaries
Investment summaries are determined based on fundamental valuation of the underlying equity considering a minimum hold of 60 months (5 years). Investment summaries were issued during the week for the following companies:

AeroVironment, Inc. - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)

American Woodmark Corporation - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

Patterson Companies, Inc. - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

Finisar Corporation - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)

Dawson Geophysical Company - Positive - the current baseline valuation and key performance indicators (KPIs) favor investment consideration at this time (Buy)

Have a great week.

Wax

Wax Ink is a baseline equity valuation company not licensed or registered with any government agency
Copyright © 2016 Wax Ink  [more]

Recs

1

The Wax Report - Week Ending 07/29/2016

July 30, 2016 – Comments (2) | RELATED TICKERS: CLH , DDD , ARII

The very poorly managed, energy weighted, and generally crappy Wax Ink Portfolio was unchanged for the week.

By comparison, the Dow was down 0.7%, the Nasdaq was up 1.2%, the S&P 500 was down 0.1%, the Russell 2000 was up 0.6%, and the Volatility Index, commonly known as the VIX, was down 1.2%.

Year to date, the Wax Ink portfolio is down 15.7% on a per share held basis, the Dow is up 5.8%, the Nasdaq is up 3.1%, the S&P 500 is up 6.3%, the Russell 2000 is up 7.4%, and the VIX is lower by 34.8%.

Portfolio Summary
The portfolio breakdown is roughly 56% cash, 44% equities, and 0% bonds. The current cash value on a per share basis is $28.94 and the current equity value on a per share basis is $23.16 making the average per share price $52.11. The average baseline valuation estimate of all equities currently held in the Wax Ink Portfolio is $30.92 and the average market valuation of all equities held in the Wax Ink Portfolio was $29.60, making the current portfolio equilibrium factor (4.29%).

Hydrocarbon Prices
Two numbers often watched by oil traders are Crude Spread (Brent Crude less WTI Crude) as well as the Gulf Coast Crack Spread (two barrels of gasoline + one barrel of heating oil – three barrels of crude oil) / 3). These numbers are now apart of The Wax Report.

WTI Crude ended the week at $41.60, down 5.9%, while Brent Crude ended the week at $43.53, down 4.7%, creating a crude price spread of $1.93, a change of 28.7% for the week. Distillate RBOB Gasoline ended the week at $1.3210, down 3%, and Heating Oil ended the week at $1.3075, down 3.6%, moving the Gulf Coast 3:2:1 Crack Spread to $13.69, up 5.9% for the week. Natural Gas ended the week at $2.88, up 3.6%.

Year to date WTI Crude is higher by 12.3%, Brent Crude is higher by 16.8%, Natural Gas is higher by 23.1%, RBOB Gasoline is higher by 3.9%, Heating Oil is higher by 16.1%, and the Gulf Coast 3:2:1 Crack Spread is lower by 4.4%.

Treasury and Bond Yields
The 5 Year Treasury ended the week at 1.00, down 9.1%, while the 10 Year Treasury ended the week at 1.43, down 7.7%. The 5 Year AAA Municipal Bond ended the week at 0.83, down 1.2%, and the 10 Year AAA Municipal Bond ended the week at 1.36, down 3.5%. Bringing up the rear, the 5 Year AAA Corporate closed the week at 1.13, up 9.7%, with the 10 Year AAA Corporate ending the week down 2.7% at 2.13.

Year to date the 5 Year Treasury is down 42.5%, the 10 Year Treasury is down 36.4%, the 5 Year AAA Muni is down 33.1%, the 10 year AAA Muni is down 36.1%, the 5 Year AAA Corporate is down 40.5%, and the 10 Year AAA Corporate is down 27.1%.

Baseline Valuation Estimates and Worksheets
Baseline Valuation Estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance or investing philosophy.

Financial data used in the creation of each Baseline Valuation Estimate is the most recent SEC 10-K ANNUAL financial data as reported to the U.S. Securities and Exchange Commission.

Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets
Worksheets were either created or updated during the week for the following companies.

Clean Harbors, Inc. (NYSE: CLH) - FYE 12/2015
NCR Corporation (NYSE: NCR) - FYE 12/2015
American Railcar Industries, Inc. (Nasdaq: ARII) - FYE 12/2015
3D Systems Corporation (NYSE: DDD) - FYE 12/2015
Pentair, plc (NYSE: PNR) - FYE 12/2015

Baseline Valuation Estimates
Baseline valuation estimates are determined through fundamental analysis of the listed company's financial information. Because these valuations are never exact, what is presented here is a baseline valuation range. Baseline valuation estimates were either created or updated during the week for the following companies:

Clean Harbors, Inc. - $47-$56
NCR Corporation - $7-$11
American Railcar Industries, Inc. - $41-$43
3D Systems Corporation - ($2-$8)
Pentair, plc - ($19-$24)

Growth Only Valuation Estimates
Growth only valuations are determined utilizing current pricing levels, year over year earnings growth, dividend yield, the current PE ratio, and an earnings growth estimate. Because growth only valuations are EXTREMELY volatile, what is presented here is a single growth only valuation estimate. Growth only valuation estimates were either created or updated during the week for the following companies:

Clean Harbors, Inc. - $52
NCR Corporation - $31
American Railcar Industries, Inc. - $90
3D Systems Corporation - ($81)
Pentair, plc - ($63)

Investment Summaries
Investment summaries are determined based on fundamental valuation of the underlying equity considering a minimum hold of 60 months (5 years). Investment summaries were issued during the week for the following companies:

Clean Harbors, Inc. - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)
NCR Corporation - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)
American Railcar Industries, Inc. - Neutral - the current baseline valuation and key performance indicators (KPIs) are mixed for investment consideration at this time (Hold)
3D Systems Corporation - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)
Pentair, plc - Negative - the current baseline valuation and key performance indicators (KPIs) no longer favor investment consideration (Sell)

Have a great week.

Wax

Wax Ink is a baseline equity valuation company not licensed or registered with any government agency
Copyright © 2016 Wax Ink  [more]

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