Tag Archives: PSX

Top 10 Low Price Stocks To Buy Right Now

If you haven’t noticed, there has been a lot of talk about something that we haven’t heard about for almost a decade — inflation.

For the past nearly 10 years, the Federal Reserve and all the central banks in all the industrialized nations have been managing interest rates to keep them outrageously low until the financial system had a chance to right itself.

Now, we’re in the next phase of that great experiment. Economies are coming back online and central banks are starting to raise interest rates to keep inflation a bay while not shutting off the green shoots of growth.

But this isn’t a science. It’s a bit messy. It means that growth will be more uneven than it has been in the past. And you need to find firms with solid sales earnings growth as well as technical and fundamental strengths to keep the profits rolling.

These are seven fast-growing stocks to buy today that will keep you in good stead for years to come.

Top 10 Low Price Stocks To Buy Right Now: Welltower Inc.(WELL)

Another REIT I have my eye on is healthcare REIT Welltower, the largest real estate investment trust that specializes in healthcare properties and one of the largest REITs of any kind in the market.

Healthcare REITs have also been one of the sector’s underperformers recently, especially those that own senior housing. One big factor is that there are fears of oversupply in the senior housing industry. And to be clear, I’m not refuting that — developers have certainly produced new inventory faster than the growth rate of the market.

However, oversupply is a temporary problem, especially with a long-term growth opportunity as big as senior housing. And as a result of it, along with overall REIT weakness, Welltower trades for less than 13 times last year’s FFO.

Welltower owns nearly 1,300 healthcare properties, the majority of which are senior-oriented. Approximately 72% of the company’s NOI comes from senior housing and another 11% comes from long-term care properties. The other 17% of the portfolio is made up of outpatient medical facilities, and while this isn’t a senior-specific property type, they do make a disproportionately large amount of their money from older patients.

Here’s why you should care, especially if you measure your investment time horizon in decades. The U.S. population is aging rapidly, due to a combination of the massive baby boomer generation and generally longer life expectancies. In fact, the 65-and-older population is projected to roughly double by 2050 (when the oldest millennials will be pushing 70), and the 85-and-older population is expected to double in just 20 years.

This should create a huge, sustained growth in demand for senior-focused healthcare, and with such a high concentration of these properties, Welltower is in a good position to benefit. Furthermore, Welltower has the financial strength to develop properties in high-barrier urban markets, like Manhattan and Toronto, where the company is currently building senior living facilities. These properties provide the company a big edge over competitors, as 65% and 73% of the seniors in those respective cities want to stay.

Top 10 Low Price Stocks To Buy Right Now: Chevron Corporation(CVX)

Chevron has a good reputation for paying dividends. Not only does the oil giant have a yield of 3.6% right now, it’s also made annual dividend increases for more than 30 years. The most recent boost came earlier this year, taking the quarterly payout up by 4% to $1.12 per share.

Offshore drilling rig at sea with small boat in background.

IMAGE SOURCE: CHEVRON.

Many oil companies have had to adjust to lower crude prices by finding ways to enhance production rates by adding to their assets. Yet at least so far, Chevron has avoided that strategic direction, instead focusing its efforts on cost reduction and making the most of its current production assets. Chevron isn’t giving up on strategic acquisitions and other investments, but anticipated annual spending levels of $18 billion to $20 billion aren’t nearly as large as they might seem for a company its size. With the recent rise in oil prices, Chevron’s bigger bet on the long-term promise of various shale plays across the U.S. could pay off without nearly as big a shift in its business model. And that could prove to be the best possible outcome for this global oil giant.

Top 10 Low Price Stocks To Buy Right Now: Twitter, Inc.(TWTR)

Twitter (NYSE:TWTR) shares look ready to resume the upward march that started late last summer, more than doubling off of its September low into the high set in March.

A profit-taking pullback ensued, but the bulls are on the charge again pushing shares up and over their 50-day moving average. Aegis analysts highlighted in a recent note to clients that both Walt Disney Co (NYSE:DIS) and Viacom (NASDAQ:VIAB) have announced partnerships to deliver content — including live and unique programming — on the platform.

The company will next report results on July 26 before the bell. Analysts are looking for earnings of 16 cents per share on revenues of $696.4 million. When the company last reported on April 25, earnings of 16 cents per share beat estimates by five cents on a 21.3% rise in revenues.

Top 10 Low Price Stocks To Buy Right Now: Phillips 66(PSX)

Phillips 66 (NYSE:PSX) is a welcome breath of fresh air in the energy space. That’s because while many energy stocks were slowing dividend growth down to a trickle during the oil-price collapse starting in summer 2014 – or even cutting payouts – Phillips 66 has kept the income pipeline flowing.

Namely, since 2014, this refiner and midstream company has juiced its dividend by nearly 80%, including a substantial 11% hike last year.

PSX should have plenty of ammunition for another dividend increase come early May, when it typically makes an announcement. That’s because the company reported yet another excellent quarter a couple months ago that beat the pants off analyst estimates – profits of $1.07 per share were well ahead of the consensus estimate of 86 cents.

But the spending won’t end there. Phillips 66 also plans to spend $500 million more on capital expenditures in 2018 than it did in 2017, which should fuel growth over the coming years.

Top Financial Stocks To Invest In 2019

The week started off with a bang for U.S. equities after fears of geopolitical tensions caused by the Syria missile strike calmed down. The S&P 500 Index gained 0.8%, the Dow Jones Industrial Average surged 0.9% and the Nasdaq Composite was up 0.7% at day’s end.

These stocks following all made headlines after the bell Monday on earnings reports and one of these companies inking a major deal.

Here’s what you should know.

Top Financial Stocks To Invest In 2019: Profire Energy, Inc.(PFIE)

Little-Known Stocks to Buy: Profire Energy (PFIE)

Source: Shutterstock

 

Profire Energy, Inc. (NASDAQ:PFIE) is a niche player in the oil and natural gas sector. And as this sector makes its resurgence along with the global economy, its business is ready to grow.

As a matter of fact, PFIE stock is already up 140% so far this year.

Profire specializes in burner management. In the oil and natural gas industry, various equipment like line heaters, separators, dehydrators and amine reboilers are used to make and transport petrochemicals. These applications require heat, and that’s where PFIE products come into play.

Founded in Canada, it has reach across the entire North American energy patch. And as more pipelines and wellheads open up, so will PFIE’s business.

Top Financial Stocks To Invest In 2019: Green Plains, Inc.(GPRE)

The United States produces over 15.5 billion gallons of ethanol per year, or about 1 million barrels per day. That level of output easily sits atop the global leaderboard, owing to America’s envious agricultural lands, and has led to soaring international demand for American ethanol. Green Plains (NASDAQ: GPRE) is well-positioned to cash-in on ethanol exports to countries looking to reduce the carbon-intensity of their transportation fleets, but there’s plenty more to the business than that.

North America’s second-largest ethanol producer is also the world’s largest manufacturer of vinegar (which is produced from ethanol) and America’s fourth-largest cattle feedlot owner (which utilize corn byproducts from the ethanol manufacturing process). Green Plains’ vertical integration up and down the renewable products value chain increases its operating efficiency and has greatly diversified earnings. It may only be a matter of time before Wall Street takes notice.

Top Financial Stocks To Invest In 2019: Phillips 66(PSX)

Refining giant Phillips 66 (NYSE:PSX) and Canadian energy infrastructure behemoth Enbridge(NYSE:ENB) initially pitched Gray Oak to oil shippers in early December. At the time, they envisioned a 385,000 barrel-a-day pipeline that would move crude from several connection points in West Texas to refineries and export docks along the Texas coast starting in the second half of 2019.

The project has evolved since then. Phillips 66 is no longer a direct investor in the pipeline, choosing instead to have its master limited partnership (MLP) Phillips 66 Partners take the lead. The MLP will hold a 75% interest in the joint venture (JV) building the project. Enbridge, likewise, won’t initially invest in the project but instead is one of the third parties that has the option to acquire up to a 32.75% interest from Phillips 66 Partners. Joining Phillips 66 Partners will be refiner Andeavor (NYSE:ANDV), which will own a 25% interest in the JV.

Not only has the ownership structure changed, but so has the scope of the project. Phillips 66 Partners now envisions a 700,000 barrel per day oil pipeline, which could ultimately move up to 1 million barrels per day if they secure additional contracts with shippers. Further, the pipeline will transport oil not just from producers in the Permian but also from the Eagle Ford Shale in South Texas.

On top of building this pipeline, Phillips 66 Partners and Andeavor have teamed up with Buckeye Partners (NYSE:BPL) to construct a new marine terminal in Corpus Christi, Texas. Buckeye will operate the South Texas Gateway Terminal and own a 50% stake in the JV while Phillips 66 Partners and Andeavor will split the remaining 50% interest. Both projects should enter service by the end of 2019.

Top 5 Tech Stocks For 2018

Lately, on Industry Focus: Tech, we’ve focused on the megacap businesses that have been dominating the news — at the cost of shedding some light on smaller companies with massive growth potential. In this week’s episode, host Dylan Lewis talks with Fool.com contributor Brian Feroldi about following ultra-compelling small-cap tech companies.

Tune in to find out how each business works, how companies like AppFolio thrive in markets that are too small for the big guys, the biggest risks investors should know before taking a closer look at these companies, which particular one is the most exciting story today, and more.

Top 5 Tech Stocks For 2018: The Goodyear Tire & Rubber Company(GT)

You’ve likely heard new-vehicle sales in the U.S. are currently plateauing, which makes it difficult to sell a near-term growth story for automakers. Nonetheless, the auto industry has trends that could provide strong growth for Goodyear despite the company’s being sold off with the rest of the industry — it currently trades at a paltry forward P/E of 6.6, per Morningstar estimates.

Total sales are plateauing, but the sales mix is wildly shifting in favor of larger vehicles such as SUVs, crossovers, and pickup trucks. That means more larger tires on the road, and that means better margins for Goodyear. In 2009, light trucks were 45% of the U.S. new vehicle market; that exploded in the years since to 68% during the first quarter of 2018. Further, LMC Automotive predicts light trucks will generate roughly 73% of the market as soon as 2022.

A sales mix in the Americas with such a large percentage of light trucks is one growth catalyst for Goodyear, but there’s a long-term catalyst as well: driverless vehicles. Consider that by 2030, 25% of global miles traveled will be shared, according to The Boston Consulting Group, and the autonomous market will be a $7 trillion business by 2050, according to an Intel report. As the market shifts to fleet ownership, rather than individual consumers, Goodyear could leverage its physical-store tire services to sign partnerships with fleet owners, which could become a lucrative business.

Granted, the driverless-car future is an uncertain one, but one thing is certain: Tires, and other products associated with driverless cars, will become much more complex. That means growth — long-term growth — for Goodyear if it can leverage its distribution network, innovative tires, and service bays to carve out its place in the market.

Top 5 Tech Stocks For 2018: Amphenol Corporation(APH)

Aphria (TSE: APH) is an early leader in Canada’s high-growth cannabis industry. With a market cap of $2.4 billion, Aphria is the second-largest cannabis company in Canada behind Canopy Growth Corp’s (TSE: WEED) $6.6 billion.

 

Shares of Aphria are traded on the Toronto Stock Exchange under the ticker symbol APH. Shares are also traded on US, OTC (over-the-counter) markets under the ticker symbol APHQF.

If there is one stock to own to profit from the cannabis revolution, Aphria is the choice. Let me explain…

Aphria Is Benefitting From A Legal Monopoly
Aphria won the cannabis lottery back in 2014 when it received an exclusive permit to grow and sell cannabis from Health Canada, the regulatory agency responsible for issuing permits.

At last count, more than 1,000 companies have applied for a license. But as it stands, Health Canada has only issued 93 permits — and Aphria is one of the lucky recipients.

This exclusive permit gives Aphria two powerful and sustainable competitive advantages. First, it gives Aphria a huge head start on the competition. Second, it will protect Aphria from new competition. 

Health Canada will issue more permits in the next few years. But it is deliberately restricting the number of permits to encourage young cannabis companies’ profitability, as this will help to remove illegal cartels from the cannabis trade.

Aphria Is Constructing A 1 Million Square Foot Greenhouse
After securing its exclusive permit, Aphria quickly turned its attention to building one of the largest cannabis greenhouses in the world. The company’s 1 million square foot, state-of-the-art cannabis greenhouse will be one of the largest in the world when completed.

The new facility will include:
 
— 700,000 square feet of Dutch-style greenhouses.
— 230,000 square feet of infrastructure, including new level 9 vaults.
— Automation of the greenhouses, processing areas, and warehouse facilities.
— Annual production capacity of over 150,000 lbs of cannabis.

This new greenhouse positions Aphria to be the number one low-cost provider of cannabis in Canada — and eventually the world as it continues expanding into international markets.

The final phase of the project is projected to be completed this summer.

Top 5 Tech Stocks For 2018: Boeing Company (BA)

I was one of many in the business media writing about Boeing Co’s (NYSE:BA) stellar first-quarter earnings April 25. Boeing delivered adjusted earnings per share of $3.64, 41% higher than the consensus estimate. While we’re on the subject of beats, its free cash flow was $2.74 billion, 84% higher than analyst expectations.

“Well it’s not every day that a mega-cap company beats consensus by 40 percent,” Robert Stallard, an analyst with Vertical Research Partners said in a note to clients. “The wall of cash that the company is generating makes it hard to be absent from the stock.”

Indeed.

Based on an enterprise value of $196.4 billion and a trailing 12-month free cash flow of $12.6 billion, Boeing has an FCF yield of 6.4%, a perfectly decent yield for a company that’s firing on all cylinders at the moment. Here’s what I had to say about Boeing in April a couple of weeks before earnings:

“Now that I’m back on Boeing wagon, I do believe that Boeing stock could deliver 20%-25% compound annual growth over the next five years,” I wrote April 10. “If it does, a $1,000 stock price is not out of the realm of possibility.”

After its strong first quarter, I have no doubt it’s possible by 2023.

Top 5 Tech Stocks For 2018: Phillips 66(PSX)

Phillips 66 (NYSE:PSX) is a welcome breath of fresh air in the energy space. That’s because while many energy stocks were slowing dividend growth down to a trickle during the oil-price collapse starting in summer 2014 – or even cutting payouts – Phillips 66 has kept the income pipeline flowing.

Namely, since 2014, this refiner and midstream company has juiced its dividend by nearly 80%, including a substantial 11% hike last year.

PSX should have plenty of ammunition for another dividend increase come early May, when it typically makes an announcement. That’s because the company reported yet another excellent quarter a couple months ago that beat the pants off analyst estimates – profits of $1.07 per share were well ahead of the consensus estimate of 86 cents.

But the spending won’t end there. Phillips 66 also plans to spend $500 million more on capital expenditures in 2018 than it did in 2017, which should fuel growth over the coming years.

Top 5 Tech Stocks For 2018: Brookfield Renewable Powerr Fund(BEP)

When investors are looking at the energy industry today, there’s a lot to consider. Volatile oil prices can make big oil stocks risky, changing utility markets have hurt formerly safe utility companies, and even natural gas isn’t the profitable business it once was. But renewable-energy production around the world is growing, and companies that own renewable assets can generate consistent cash flows capable of funding dividend growth for years to come.

 

One of the best dividends for in-the-know investors is Brookfield Renewable Partners, a yieldco that owns 16,000 megawatts of generating capacity around the world. Eighty percent of that capacity is hydropower, but the company is adding more wind and solar assets after acquiring a 31% interest in TerraForm Global and a 16% interest in TerraForm Power (NASDAQ:TERP).

 

What’s unique about Brookfield Renewable Partners is that it’s not as tied to the idea of issuing stock to fund acquisitions as many yieldcos have been in the past. Instead, it expects to grow its dividend 5% to 9% annually and use any excess cash from the business to grow cash flow organically. If you look at the dividend over the past decade, you can see that the strategy has resulted in steady growth:

Energy markets can be volatile, but a renewable-energy company like Brookfield Renewable Partners usually buys projects backed with long-term contracts to sell energy to utilities under a set rate. Yieldcos that can do that well will be big winners for investors, and that’s why Brookfield Renewable Partners is a great dividend stock today.

Top 10 Biotech Stocks For 2018

Motley Fool co-founder David Gardner regularly recommends sets of stocks on the Rule Breaker Investing podcast — essentially giving us all a free taste of the choices he and his team make in Motley Fool Supernova’s portfolio universe. And he holds himself accountable, annually going back over those five-stock micro portfolios to let everyone see how he scored against the benchmark of the broader market.

Right now, it’s time for that yearly review of the ones he picked to honor the month, and also the briefly famous pregnant giraffe.

 

Top 10 Biotech Stocks For 2018: Southside Bancshares, Inc.(SBSI)

While the run-up in banks has left yields in the financial space awfully dry, Southside Bancshares, Inc. (NASDAQ:SBSI) offers a respectable yield of above 3%. That’s in some part thanks to an aggressive dividend policy that has seen the company raise payouts multiple times a year over the past few years.

Southside, by the way, is the bank holding company behind Texas community bank Southside Bank, which controls about $6.5 billion in assets across 60 branches within the state. There’s nothing out of the ordinary about this bank – it provides typical services such as mortgages, personal loans, and checking and savings accounts.

What is unusual about SBSI is its dividend program, which has featured varying numbers of increases across the past few years. But one thing that’s pretty consistent is the company announcing a dividend hike sometime in mid-May.

Top 10 Biotech Stocks For 2018: American Campus Communities Inc(ACC)

Consumer tastes change over time, and over the past two decades, college students have noticeably shifted their preferences toward off-campus housing options.

American Campus Communities is a real-estate investment trust that has emerged as a market leader in this young and fast-growing segment of residential real estate.

Most on-campus housing options in American Campus Communities’ 68 current markets are residence halls built in the 1950s and 1960s. In fact, the median age of on-campus housing options in these markets is more than half a century. In these markets, 78% of students live in other types of housing, but about two-thirds of the off-campus housing supply consists of landlord-run single-family homes and traditional apartment communities.

 

American Campus Community gives students a third option: modern communities that were specifically designed to meet the needs of college students. These communities have modern technology infrastructure, as well as more student-focused amenities and policies. For instance, in a traditional apartment, you generally aren’t on a separate lease from your roommates, but this can be done in student-focused housing.

Not only is American Campus Communities’ product far superior to its competition, but it’s just as affordable. Outdated on-campus housing costs an average of $722 (shared) or $916 (private) in the company’s markets, making the $751 average monthly price tag of American Campus Communities’ properties surprisingly affordable.

As I mentioned, this industry is still in its infancy, and there’s no shortage of demand for higher-quality student housing. Plus, the company’s 4.7% dividend yield represents less than 70% of 2018’s expected funds from operations, or FFO (the REIT equivalent of "earnings") — a rather low payout ratio for a REIT. So, there’s no reason to think the income won’t get even better over the coming years.

Top 10 Biotech Stocks For 2018: Phillips 66(PSX)

Refining giant Phillips 66 (NYSE:PSX) and Canadian energy infrastructure behemoth Enbridge(NYSE:ENB) initially pitched Gray Oak to oil shippers in early December. At the time, they envisioned a 385,000 barrel-a-day pipeline that would move crude from several connection points in West Texas to refineries and export docks along the Texas coast starting in the second half of 2019.

The project has evolved since then. Phillips 66 is no longer a direct investor in the pipeline, choosing instead to have its master limited partnership (MLP) Phillips 66 Partners take the lead. The MLP will hold a 75% interest in the joint venture (JV) building the project. Enbridge, likewise, won’t initially invest in the project but instead is one of the third parties that has the option to acquire up to a 32.75% interest from Phillips 66 Partners. Joining Phillips 66 Partners will be refiner Andeavor (NYSE:ANDV), which will own a 25% interest in the JV.

Not only has the ownership structure changed, but so has the scope of the project. Phillips 66 Partners now envisions a 700,000 barrel per day oil pipeline, which could ultimately move up to 1 million barrels per day if they secure additional contracts with shippers. Further, the pipeline will transport oil not just from producers in the Permian but also from the Eagle Ford Shale in South Texas.

On top of building this pipeline, Phillips 66 Partners and Andeavor have teamed up with Buckeye Partners (NYSE:BPL) to construct a new marine terminal in Corpus Christi, Texas. Buckeye will operate the South Texas Gateway Terminal and own a 50% stake in the JV while Phillips 66 Partners and Andeavor will split the remaining 50% interest. Both projects should enter service by the end of 2019.

Top 10 Biotech Stocks For 2018: Entravision Communications Corporation(EVC)

Entravision Communications Co. (NYSE: EVC) is a Spanish-language media company based in Santa Monica, Calif.

Entravision’s profit potential lies with the nation’s rapidly expanding Latino community, which makes up the majority of Entravision’s customer base.

From 2000 to 2014, Latino immigration accounted for more than 50% of the nation’s total population growth. In the same period, the nation’s total Latino population expanded to roughly 55 million people.

Over the next 10 years, the American Latino population is expected to expand by another 24 million Latino Americans – an increase of over 30%

This growing audience is already showing in the company’s growth. Over the last year, the company had a return on equity of 49.84%. That’s over 350% higher than the industry average of 11.99%.

With an expanding consumer market continually seeking new content from major Hispanic media outlets, it’s likely that Entravision will experience sustained growth well into the future.

EVC currently boasts a perfect VQScore, and Wall Street agrees with us. Analysts have put a high price target of $11 on the company’s stock – a 119% increase on today’s price of $5.02.

Top 10 Biotech Stocks For 2018: AppFolio, Inc.(APPF)

Lewis: Yeah, it certainly seems like there’s a pretty good growth runway ahead of it. Why don’t we talk about company No. 2, and this is AppFolio?

Feroldi: Sure. This is a company that I really like a lot, too. These guys cater to the needs of small and medium-sized businesses that are kind of in niche, niche markets that you wouldn’t normally think of, and none of these are consumer-facing. AppFolio was founded, and their initial target market was the property management business. So, you think about companies that own, say, a small apartment complex or a multi-family building. If you were a property manager, what kind of things are critical to making your apartment profitable? Well, you need to attract clients. You need to make sure that they’re paying their bills. You need to be able to foster communication between the client and the property manager if there’s maintenance things. You need to help with background checks on potential tenants and screening. 

So, there’s a hodgepodge of software that’s out there that can help with each of those things. AppFolio basically took all of that and put it together on a cloud-based platform, and they sell their service to property managers. So, they can come on to AppFolio’s platform, they pay a small subscription fee, and they get access to basically all of those services in one easy-to-use cloud-based system that can be managed through a cellphone or on a tablet.

Lewis: And you talk about this market, and even just hearing you describe it, property managing software, there’s a niche there. [laughs] 

Feroldi: It’s pretty niche.

Lewis: There’s a pretty clear niche. And frankly, it’s a space that’s probably a little too small for big players to want to hop in.

Feroldi: Absolutely, yeah. There can be a big advantage to stay in the niche. The big software boys, it’s just not a big enough market for them to go after, to really invest the resources to make a customized solution. But, AppFolio, they’re not so much a property management company as they are just trying to dominate a few small niches, and by combining them together, they can grow into a much bigger software platform.

Lewis: Yeah. They’re getting outside property management, right? They’re doing something in the legal space, as well?

Feroldi: Exactly. A couple of years ago, they bought a company called MyCase, which caters to the needs of legal professionals. So, you think about a small law practice. Well, they also need help with billing and tracking their time and attendance and marketing themselves. There’s always back-office stuff that these companies need help with. So, AppFolio recently entered into that business, too, through an acquisition. It’s still very small, it’s less than 10% of their revenue. The property management business is about 90% of their market right now. But, between these two, they’re adding customers to both platforms at a double-digit rate. 

The way that they make money is, their customers pay a recurring monthly subscription fee just to be on the platform, but they also sell premium, what they call value-plus services, on top of that. So, if you wanted AppFolio’s app to facilitate taking money out of the client’s checking account and sending it over to the property manager, like, so they can pay their rent, AppFolio’s platform can do that for them, and they charge an extra small fee for that. Or, if they wanted to do a detailed background check when they’re screening for tenants, you can also do that on AppFolio’s platform, but they also charge a small fee for those kinds of services.

Lewis: You talked about the stickiness of the platform. I think they have a customer retention rate of 97% or something crazy like that.

Feroldi: It’s extremely high. That’s a big reason why I love software-as-a-service businesses. Once a customer gets into the platform, and their entire back office gets set up around using this platform, it becomes extremely painful for them to consider switching providers, because everything is built for this one platform. So, it makes the business very, very sticky.

Lewis: And, you have employees that are trained on using that, right? So, there’s the actual friction of switching systems and maybe not having the data interplay the way that you would like it to, but there’s also the cost of having to retrain employees to use these programs or to bring in vendors and review these offers from new vendors, which is going to be tough for everyone’s time, especially if you’re a smaller business.

Feroldi: Absolutely, especially since, if you’re a smaller business, you don’t really have time to do that kind of stuff. AppFolio is growing its top line extremely quickly. Last year with 40% year over year top line growth, about $144 million in revenue. So, again, they’re going after niche markets, but they’re still big enough to actually become profitable, become cash flow positive. Their balance sheet is squeaky clean. Another thing I like about this company in particular is, the founders of the business are the Chief Technology Officer and the Chief Strategy Officer, so they’re still very involved. Very high inside ownership rates. And, this is another company that just gets rave reviews from employees about the culture that they have.