Stock Upgrades, Downgrades From TheStreet.com Ratings
BankUnited, Coach downgraded; Alliance One, BankUnited and Coach downgraded; Riviera Holdings and United Natural Foods upgraded; coverage initiated on Quantum Group, International Royalty and Akeena Solar.
TheStreet.com Ratings has initiated coverage on Quantum Group ( QGP), which sells services, products and technology industry in the United States. It has been rated a sell. The company lost $1.89 per share in the third quarter compared with a loss of $1.75 in the same period last year. Its stock price has fallen by 68.71% in the last 12 months, and while it is now cheaper (in proportion to its earnings over the past year) than most other stocks in its industry, it is not a good buy right now due to other concerns. Even though its debt-to-equity ratio is mixed, the company's quick ratio of 0.15 is very low, and demonstrates very weak liquidity. Quantum also shows weak operating cash flow and deteriorating net income. TheStreet.com Ratings also initiated coverage of International Royalty ( ROY), which owns interests in mineral properties around the world. It has been rated a sell. Its third-quarter earnings fell to two cents a share from three cents a share in the same period last year. International Royalty underperformed against the industry and significantly underperformed against the S&P 500 in terms of return on equity. TheStreet.com Ratings also initiated coverage of Akeena Solar ( AKNS), which designs and sells solar power systems for residential and small business customers in the U.S. It has been rated a sell. The company's third-quarter losses widened to $3.72 million, or 16 cents per share, from a loss of $400,000, or four cents a share, in the same period last year. Akeena Solar's gross profit margin of 22.5% is low and has decreased since the same quarter last year, and its return on equity trails that of both the electrical equipment industry average and the S&P 500.