This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stock Upgrades, Downgrades from Ratings

Hartmarx (HMX), which makes casual and golf apparel, has been downgraded to sell due to its generally disappointing historical stock performance and substandard return on equity. The company's stock share price has done very poorly, falling 25.9% over the past year. Despite the heavy decline in its share price, this stock is still more expensive -- when compared with its current earnings -- than most other companies in its industry. Third-quarter net income increased 10.6% to $542,000, or 1 cent a share from a year ago. Revenue dropped 2% to $135.2 million. Hartmarx had been rated hold since Oct. 1.

Pure Cycle (PCYO), a water and wastewater service provider, has been upgraded to hold. Although the company maintains a largely solid financial position with reasonable debt levels, a solid stock price performance, and expanding profit margins, it is also marked by deteriorating net income, disappointing return on equity and weak operating cash flow. The company posted a third-quarter loss of about $5.2 million, or 28 cents a share, compared with a loss of about $713,700, or 5 cents a share, a year earlier, significantly underperforming the water utilities industry. Return on equity has slightly decreased from the same quarter one year prior. Pure Cycle had been rated sell since February.

Innovo Group (INNO), an apparel company, has been upgraded to hold. While the company has demonstrated robust revenue growth, impressive EPS growth and compelling growth in net income, cash flow from its operations has been weak. It swung to a profit in the third-quarter, reporting net income of $913,000, or 2 cents a share, compared with a loss of $524,000 or 1 cent a share a year ago. Net sales increased 26% to $15.7 million. However, the company's stock has appreciated sharply over the last year, and this is one factor that should prompt investors to seek better opportunities elsewhere. Innovo Group had been rated sell since October 2005.

Additional ratings changes are listed below.

Stock Upgrades, Downgrades
Ticker Company Name Change New Rating Former Rating
CLDN Celadon Group Downgrade Hold Buy
FNSR Finisar Downgrade Sell Hold
HMX Hartmarx Downgrade Sell Hold
INNO Innovo Group Upgrade Hold Sell
RDEA Ardea Biosciences Initiation Hold n/a
MTRX Matrix Service Co. Upgrade Buy Hold
PCYO Purecycle Upgrade Hold Sell
Source: Ratings

2 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs