Buckingham Research
Upgrade grade
C
Downgrade grade
C
Buckingham Research was founded in 2008 by veteran Wall Street analysts seeking to establish an independent research boutique focused on delivering unbiased equity analysis. The firm built its reputation on fundamental, bottom-up research unconstrained by investment banking pressures, which differentiated it from traditional bulge-bracket institutions. With nearly 1,000 analyst ratings in our database covering US equities, Buckingham developed particular expertise in consumer discretionary, industrials, and technology sectors, gaining recognition for its detailed company-specific analysis and conviction-driven calls. The firm became known for its willingness to take contrarian positions backed by rigorous research, earning credibility among institutional investors who valued independence and intellectual honesty in an industry often criticized for conflicts of interest.
Upgrades
103
73.79% win rate
· avg +1.98% D1
Downgrades
137
72.99% win rate
· avg -1.75% D1
Avg Gap — Upgrades
+1.88%
open vs prev close
Avg Gap — Downgrades
-1.56%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Consumer Cyclical | 73.17% (41) | +2.80% | 70.37% (54) | -0.18% |
| Industrials | 74.19% (31) | +1.51% | 80.43% (46) | -3.96% |
| Financial Services | 80.00% (15) | +1.19% | 58.82% (17) | -0.57% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|---|---|---|---|
| 2020 | — | — | 81.8% | 11 |
| 2019 | 73.3% | 15 | 70.0% | 30 |
| 2018 | 73.9% | 23 | 64.3% | 14 |
| 2017 | 90.0% | 10 | 62.5% | 16 |
| 2016 | 87.5% | 16 | 71.4% | 21 |
| 2015 | 58.3% | 12 | 92.3% | 13 |
| 2014 | — | — | 80.0% | 10 |
| 2013 | 70.0% | 10 | 73.7% | 19 |
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| Feb 27, 2020 | CPS | Cooper-Standard Holdings Inc. | Consumer Cyclical | Maintains | Neutral → Neutral | — | -2.8% | -6.5% |
| Feb 27, 2020 | ALGT | Allegiant Travel Company | Industrials | Downgrade | Buy → Neutral | — | -4.3% | -9.5% |
| Feb 27, 2020 | JBLU | JetBlue Airways Corporation | Industrials | Downgrade | Buy → Neutral | — | -4.2% | -5.0% |
| Feb 27, 2020 | ALK | Alaska Air Group, Inc. | Industrials | Downgrade | Buy → Neutral | — | -4.5% | -7.7% |
| Feb 27, 2020 | AAL | American Airlines Group Inc. | Industrials | Downgrade | Buy → Neutral | — | -6.5% | -7.7% |
| Feb 27, 2020 | W | Wayfair Inc. | Consumer Cyclical | Maintains | Buy → Buy | — | -3.0% | -1.1% |
| Feb 27, 2020 | HII | Huntington Ingalls Industries, Inc. | Industrials | Downgrade | Buy → Neutral | — | -3.1% | -2.1% |
| Feb 27, 2020 | LUV | Southwest Airlines Co. | Industrials | Downgrade | Buy → Neutral | — | -3.6% | -4.6% |
| Feb 27, 2020 | UAL | United Airlines Holdings, Inc. | Industrials | Downgrade | Buy → Neutral | — | -5.5% | -2.4% |
| Feb 26, 2020 | MSM | MSC Industrial Direct Co., Inc. | Industrials | Maintains | Neutral → Neutral | — | +0.8% | -0.8% |
| Feb 24, 2020 | LAD | Lithia Motors, Inc. | Consumer Cyclical | Upgrade | Neutral → Buy | — | -1.2% | -1.0% |
| Feb 20, 2020 | QUAD | Quad/Graphics, Inc. | Industrials | Maintains | Neutral → Neutral | — | +2.0% | +3.3% |
| Feb 20, 2020 | ANDE | The Andersons, Inc. | Consumer Defensive | Maintains | Neutral → Neutral | — | -0.6% | +2.5% |
| Feb 20, 2020 | TSN | Tyson Foods, Inc. | Consumer Defensive | Maintains | Neutral → Neutral | — | +0.0% | +1.2% |
| Feb 14, 2020 | RUSHA | Rush Enterprises, Inc. | Consumer Cyclical | Maintains | Buy → Buy | — | -0.2% | +3.5% |
| Feb 14, 2020 | WSO | Watsco, Inc. | Industrials | Maintains | Neutral → Neutral | — | -0.0% | -1.1% |
| Feb 13, 2020 | CPA | Copa Holdings, S.A. | Industrials | Maintains | Buy → Buy | — | +3.8% | +1.9% |
| Feb 13, 2020 | RUSHB | Rush Enterprises, Inc. | Consumer Cyclical | Maintains | Buy → Buy | — | -12.7% | -6.7% |
| Feb 13, 2020 | WSO-B | — | — | Maintains | Neutral → Neutral | — | -2.3% | -1.2% |
| Feb 12, 2020 | DLX | Deluxe Corporation | Communication Services | Maintains | Neutral → Neutral | — | +0.4% | -0.9% |
| Feb 11, 2020 | MDLZ | Mondelez International, Inc. | Consumer Defensive | Maintains | Buy → Buy | — | +0.1% | -0.2% |
| Feb 7, 2020 | PJT | PJT Partners Inc. | Financial Services | Maintains | Neutral → Neutral | — | +0.7% | +0.2% |
| Feb 7, 2020 | GWW | W.W. Grainger, Inc. | Industrials | Maintains | Neutral → Neutral | — | -1.1% | -3.3% |
| Feb 7, 2020 | LMT | Lockheed Martin Corporation | Industrials | Maintains | Buy → Buy | — | -0.2% | +0.0% |
| Feb 6, 2020 | MC | Moelis & Company | Financial Services | Maintains | Buy → Buy | — | +2.6% | +4.8% |