TSC Ratings' Updates: Allergan

CMG's stock share price has done very poorly compared with where it was a year ago: Despite any rallies, the net result is that it is down by 31.35%, which is also worse that the performance of the S&P 500 Index.

Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Although its share price is down sharply from a year ago, do not assume that it can now be tagged as cheap and attractive. The reality is that, based on its current price in relation to its earnings, CMG is still more expensive than most of the other companies in its industry.

The gross profit margin for CMG is rather low; currently it is at 22.40%. It has decreased from the same quarter the previous year. Along with this, the net profit margin of 7.20% trails that of the industry average.

CMG had been rated a hold since July 7, 2007.

Additional ratings changes from Sept. 15 are listed below.

Ticker	Company Name	Change	New Rating	Former Rating
ADI	Analog Devices	Downgrade	Hold	Buy
AGN	Allergan Inc.	Upgrade	Buy	Hold
BBOX	Black Box Corp	Upgrade	Buy	Hold
CMG.B	Chipotle Mexican Grill	Downgrade	Sell	Hold
CSFL	Centerstate Banks of Florida	Upgrade	Buy	Hold
ESMC	Escalon Medical Corp	Downgrade	Sell	Hold
GPK	Graphic Packaging Holding	Upgrade	Hold	Sell
HYDI	Hydromer Inc.	Upgrade	Hold	Sell
MIG	Meadowbrook Insurance Group	Upgrade	Buy	Hold
ORLY	O'Reilly Automotive	Upgrade	Buy	Hold
RMTR	Ramtron International	Downgrade	Hold	Buy
SUTR	Sutor Technology Group	Initiated	Sell