|Company Name||Ticker||Change||New Rating||Former Rating|
|ASBURY AUTOMOTIVE GROUP INC||ABG||Downgrade||Hold||Buy|
|ASIAINFO HOLDINGS INC||ASIA||Downgrade||Hold||Buy|
|BEAZER HOMES USA INC||BZH||Downgrade||Sell||Hold|
|GREENBRIER COMPANIES INC||GBX||Upgrade||Buy||Hold|
|MIPS TECHNOLOGIES INC||MIPS||Upgrade||Buy||Hold|
|GRUPO RADIO CENTRO SA DE CV||RC||Upgrade||Buy||Hold|
|VOLT INFO SCIENCES INC||VOL||Downgrade||Hold||Buy|
|CIA DE BEBIDAS DAS AMERICAS||ABV.C||Downgrade||Hold||Buy|
|COHEN & STEERS INC||CNS||Downgrade||Hold||Buy|
|INVESTORS BANCORP INC||ISBC||Upgrade||Hold||Sell|
|NEW YORK CMNTY BANCORP INC||NYB||Downgrade||Hold||Buy|
Each weekday, 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. While the ratings model is quantitative, it uses both subjective and objective elements. For instance, subjective elements include expected equities market returns, future interest rates, implied industry outlook and company earnings forecasts. Objective elements include volatility of past operating revenue, financial strength and company cash flows. High-income equity portfolio management firm Cohen & Steers ( CNS - Get Report) has been downgraded to a hold from a buy. The company shows mixed financial results. Its revenue increased by 64.5% in the second quarter of 2007, compared with the same period last year. That growth swung EPS from a loss of 95 cents per share in the second quarter of 2006 to a profit of 44 cents a share in the same period this year. Its stock price has appreciated by 33.1% in the past 12 months, outperforming the rise in the S&P 500 during that same timeframe. Looking ahead, however, TheStreet.com Ratings cannot assume that the stock's past performance is going to drive future results. The company has shown volatile EPS recently, but is poised for EPS growth in the coming year. Still, Cohen & Steers' recent stock price appreciation is one of the factors that should prompt investors to seek better opportunities elsewhere. It had been rated a buy since April 2007.
Deluxe ( DLX - Get Report), which produces printed products, promotional products and merchandising materials for small businesses, financial institutions and consumers in North America, has been upgraded to a buy from a hold. Net income swung from a loss of $2.4 million, or 6 cents per share, in the second quarter of 2006 to a net profit of $36 million, or 69 cents per share, in the same period this year. Gross profit margin of 68.6% also increased during the period, and net profit margin of 9% is above that of the industry average. Net operating cash flow increased 25.4%, to $35.7 million, in the second quarter, compared with last year. These strengths have contributed to a 122.1% increase in its stock price over the past year, which should continue to grow higher despite having enjoyed a large gain. Deluxe had been rated a hold since July 2005. New York Community Bancorp the holding company for New York Community Bank and New York Commercial Bank, has been downgraded to a hold from a buy. The company shows mixed results. Its revenue increased by 0.8% in the second quarter, compared with the same period last year, and its gross profit margin of 36.7% in the quarter is strong but marked a decrease from the second quarter of 2006. Net income also decreased in the period, falling from $50.6 million in last year's second quarter to $36 million this year. New York Bancorp's stock price has been fairly stagnant over the past year, declining 1% over the past 12 months. Stock performance has likely been tepid as a result of weak earnings results, among other factors. New York Community Bancorp's EPS declined by 33.3% in the second quarter compared with the same period last year, and EPS has been down 16.1% in the last year. Looking ahead, TheStreet.com Ratings does not see anything in the company's numbers likely to reverse the stock's one-year trend. The company had been rated a buy since April 2007. Potlatch ( PCH - Get Report), which owns and manages nearly 1.5 million acres of timberlands and operates 13 manufacturing facilities, has been upgraded to a buy from a hold. The company's stock has increased by 23.2% over the past year -- powered primarily by strong earnings -- and has good upside potential, even though it has risen in the past year. Net income improved from $2.4 million in the second quarter of 2006 to $34 million in the same period this year. Net operating cash flow increased 99.8% to $92.4 million during the same period. Return on equity improved slightly in the second quarter, which suggests modest strength in the organization. The company's strengths outweigh its low profit margins. Potlatch had been rated a hold since June 2007. Investors Bancorp ( ISBC - Get Report), a holding company that owns and operates Investors Savings Bank, a chartered savings bank in New Jersey, was upgraded to hold from sell. The company's revenue growth of 9.7% in the fourth quarter of fiscal 2007 compared with the same period last year trailed the industry average of 27.3%. The revenue growth does not appear to have trickled down to Investors Bancorp's bottom line, displayed by an EPS decrease of 50% in the quarter, compared to the final quarter of 2006. This continued a pattern of somewhat volatile recent earnings, and TheStreet.com Ratings predicts a decline in earnings in the coming year. The company's stock price is down 8.9% over the last year, and there is little to suggest this trend is due for a reversal. Investors Bancorp had been rated a sell since coverage was initiated in January 2007. Additional ratings changes are listed below.