TSC Ratings' Upgrades, Downgrades: Owens Corning

Each business day, TheStreet.com Ratings updates its ratings on the stocks it covers. The proprietary ratings model projects a stock's total return potential over a 12-month period, including both price appreciation and dividends. Buy, hold or sell ratings designate how the Ratings group expects these stocks to perform against a general benchmark of the equities market and interest rates.

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For those reasons, we believe a rating alone cannot tell the whole story, and that it should be part of an investor's overall research.

The following ratings changes were generated on Friday, June 20.

Presidential Life (PLFE Quote) was upgraded to buy from hold. This Nyack, N.Y.-based firm sells life insurance and annuities throughout the U.S. This rating is driven by several positive factors that could result in improved stock performance.

Presidential Life's debt-to-equity ratio is a low 0.14, which is below the industry average. Net operating cash flow has significantly increased by 847.11% to $26.09 million over the same quarter last year. In addition, Presidential Life has also vastly surpassed the industry average cash flow growth rate of -27.47%. Regardless of the drop in revenue, the company managed to outperform against the industry average of 23.5%. Since the same quarter one year prior, revenue fell by 22.2%. PLFE's earnings per share declined by 47.9% in the most recent quarter a year ago.

During the past fiscal year, Presidential Life increased its bottom line by earning $2.15 vs. $1.67 a share in the prior year. The change in net income from the same quarter one year ago has exceeded the S&P 500 and the insurance industry average. The net income has significantly decreased by 48.2% when compared to the same quarter one year ago, falling from $21.11 million to $10.93 million. Presidential Life had been rated a hold since Aug. 8, 2007.