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OMX, HMC, LUB Receive Upgrades

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Shares of OfficeMax were upgraded to hold from sell by TheStreet Ratings on Friday.

"The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and good cash flow from operations," TheStreet Ratings wrote. "However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally poor debt management and disappointing return on equity."

OfficeMax's forward P/E is 9.32; the average for specialty retailers is 17.22.

Ten of the 15 analysts who cover OfficeMax rated it hold; five analysts gave the stock a buy rating.

TheStreet Ratings gives OfficeMax a C- grade and hold rating. The stock has risen 26.21% year to date.

Shares of Luby's were upgraded to buy from hold by TheStreet Ratings on Friday.

The restaurant reported Thursday second-quarter earnings of $1.1 million, or 4 cents a share, up from year-earlier earnings of $717,000, or 3 cents a share.

Luby's stock hit a 52-week high on Thursday of $6.37. The stock's 52-week low of $3.81 was set on Oct. 4.

Luby's has a forward P/E of 19.93; the average for restaurant and bar companies is 25.12.

Both of the analysts who cover Luby's rated it buy.

TheStreet Ratings gives Luby's a B- grade with a buy rating and a $6.53 price target. The stock has risen 28.16% year to date.

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-- Written by Alexandra Zendrian

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