CJS Securities
CJS Securities is a research-driven broker-dealer in White Plains, New York, that seeks quality small- and mid-cap companies overlooked by other research. Its generalist analysts actively follow about 100 stocks for long-term institutional investors.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 1012M
- Actions
- 1112M
- Ratings / Price targets
- 11 / 0
- Upgrades / Downgrades
- 3 / 7
- Initiations
- 1
- Buy-rated
- 30%of 10 rated
- On record
- Sep 2012 – Sep 2026
Overview
CJS provided active research on 98 companies as of July 2026; 92% of actively covered names were rated Market Outperform that month. It hosts small- and mid-cap investor conferences. In a January 2020 conference speech, President Robert Labick said the firm gave clients access to its analysts and to company managements at roadshows and conferences.
Arnold Ursaner, formerly of Bear Stearns, founded CJS Securities in 1998; the company had been incorporated in New York in November 1997. It operates as an introducing broker whose trades clear through a third-party clearing firm, alongside research, advisory services and selling-group participation in offerings. Robert Labick, who joined as a senior analyst in 2002 and became director of research in 2006, has been president since March 2015.
Milestones
- 1997
Incorporated in New York
- 1998
Founded by Arnold Ursaner
- 2015
Robert Labick named president
Firm facts
- Type
- Boutique
- Founded
- 1998
- Headquarters
- White Plains, United States
- President
- Robert Labick
- Director of Research
- Daniel Moore
- Rating scale
- Market OutperformMarket PerformMarket Under-Perform6-18 months
- Website
- cjssecurities.com
Research philosophy
CJS Securities seeks to identify quality Small/Mid-cap companies that may be inefficiently priced in the market due to lack of research coverage, or a material change in the business.
CJS employs generalists rather than industry specialists, allowing them to pursue companies that do not fit neatly into the sectors used in analyst rankings. They publish detailed company reports and financial models, regular updates and quarterly reviews of the coverage universe. In a January 2020 conference speech, President Robert Labick described the firm's mission as finding strong companies and using in-depth research to identify profitable investment ideas.
Rating methodology
Ratings are Market Outperform (at least 15% better than the Russell 2000 over 6-18 months), Market Perform and Market Under-Perform.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Federal Signal CorporationFSS | Market Outperform | — |
 Super Micro Computer, Inc.SMCI | Market Perform | — |
 AAON, Inc.AAON | Market Outperform | — |
 ACV Auctions Inc.ACVA | Market Perform | — |
 Argan, Inc.AGX | Market Perform | — |
 CBIZ, Inc.CBZ | Market Perform | — |
 Legacy Housing CorporationLEGH | Market Perform | — |
 Lantheus Holdings, Inc.LNTH | Market Perform | — |
 Neogen CorporationNEOG | Market Outperform | — |
 Gentherm IncorporatedTHRM | Outperform | — |
Recent actions
| Date | Stock | Rating action | Rating |
|---|---|---|---|
| Sep 15 | ACV Auctions Inc.ACVA | Downgrade | Market Outperform →Market Perform |
| Sep 14 | Gentherm IncorporatedTHRM | Initiate | Outperform |
| Aug 17 | VRVarex Imaging CorporationVREX | Downgrade | Outperform →Market Perform |
| Aug 4 | Lantheus Holdings, Inc.LNTH | Downgrade | Market Outperform →Market Perform |
| Jul 30 | CBIZ, Inc.CBZ | Downgrade | Market Outperform →Market Perform |
| May 27 | VRVerra Mobility CorporationVRRM | Downgrade | Market Outperform →Market Perform |
| May 6 | Super Micro Computer, Inc.SMCI | Upgrade | Market Underperform →Market Perform |
| Mar 20 | Super Micro Computer, Inc.SMCI | Downgrade | Market Perform →Market Underperform |
| Feb 26 | Federal Signal CorporationFSS | Upgrade | Market Perform →Market Outperform |
| Dec 10, 2025 | Neogen CorporationNEOG | Upgrade | Market Perform →Market Outperform |
| Nov 11, 2025 | Legacy Housing CorporationLEGH | Downgrade | Market Outperform →Market Perform |
| Jul 31, 2025 | Federal Signal CorporationFSS | Downgrade | Outperform →Market Perform |