Stock Upgrades, Downgrades from TheStreet.com Ratings

Red Robin Gourmet Burgers(RRGB Quote - Cramer on RRGB - Stock Picks), a quick service restaurant chain, has been downgraded to hold. While the company has experienced robust revenue growth and is reasonably well valued at its current stock price, it has also seen disappointing return on equity and poor profit margins. Its stock price performance has also been generally disappointing. Last week Red Robin said second-quarter earnings fell 32% to $4.9 million, or 29 cents a share, because of one-time charges and the increased costs of dairy and cheese products. Excluding charges, the company would have earned 44 cents a share. Revenue increased 32% to $178.6 million. Red Robin Gourmet Burgers had been rated a buy since April.

Charles River Laboratories(CRL Quote - Cramer on CRL - Stock Picks), a medical research company, has been upgraded to buy. The company is operating from a largely firm financial position, with solid stock performance, reasonable valuation levels and growth in revenue and earnings per share. These strengths are expected to outweigh Charles River's somewhat disappointing return on equity.

Earlier this month, the company said second-quarter earnings increased 47% to $38 million, or 55 cents a share, as pharmaceutical and biotechnology customers continued demanding research models and outsourced services. Excluding items, the company earned 64 cents a share. Revenue totaled $307.4 million, up from $267.9 million a year ago. Charles River also raised its full-year sales guidance and the low end of its profit forecast and increased its stock buyback authorization. Charles River Laboratories had been rated a hold since early August.

Research company Gartner(IT Quote - Cramer on IT - Stock Picks) has been upgraded to buy. The company has enjoyed a solid stock performance and revenue growth, notable return on equity, good cash flow from operations and expanding profit margins. These strengths are expected to outweigh its subpar growth in net income. In July, Gartner said second-quarter earnings fell 23% to $14 million, or 13 cents a share, as results were pulled down by rising costs and a drop in revenue. Company executives noted that contract value had increased by 19%. Gartner said it would allocate more resources toward growing the research business and will add more sales associates this year than previously anticipated. The company had been rated a hold since June.

Additional ratings changes are listed below.

Stock Upgrades, Downgrades
Company Name	Ticker	Change	New Rating	Former Rating
Caraco Pharmaceutical Labs	CPD	Downgrade	Hold	Buy
Charles River Labs	CRL	Upgrade	Buy	Hold
Citigroup	C	Downgrade	Hold	Buy
FEI	FEIC	Downgrade	Hold	Buy
Fresenius Medical Care	FMS	Downgrade	Hold	Buy
Gartner	IT	Upgrade	Buy	Hold
Intel	INTC	Upgrade	Buy	Hold
Merix	MERX	Downgrade	Sell	Hold
Modine Manufacturing	MOD	Upgrade	Buy	Hold
Quidel	QDEL	Downgrade	Hold	Buy
Restoration Hardware	RSTO	Downgrade	Sell	Hold
Wrigley	WWYWB	Upgrade	Buy	Hold
Chipmos Technologies	IMOS	Downgrade	Hold	Buy
Red Robin Gourmet Burgers	RRGB	Downgrade	Hold	Buy
Huntsman	HUN	Upgrade	Buy	Hold
Heritage Oaks Bancorp	HEOP	Upgrade	Buy	Hold
Stantec	SXC	Upgrade	Buy	Hold
Sunpower	SPWR	Upgrade	Hold	Sell
Innovative Card Technologies	INVC	Downgrade	Sell	Hold
Source: TheStreet.com Ratings

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