To assess the performance of analysts over the past year, FactSet divided the stocks that were in the S&P 500 on March 31, 2017 into five equal-sized groups (quintiles) based on the percentage of Buy ratings on that date. The 20% of S&P 500 companies with the highest percentage of Buy ratings were placed in the first group (Quintile 1). The 20% of S&P 500 companies with next highest percentage of Buy ratings were placed in the second group (Quintile 2). The 20% of S&P 500 companies with the lowest percentage of Buy ratings were placed in the last group (Quintile 5). FactSet then looked at the average price return and median price return for each group from March 31, 2017 through March 22 to measure performance. For companies that no longer were traded publicly as of yesterday’s close, the last available trading price was used in the analysis when available.