TSC Ratings provides exclusive stock, ETF and mutual fund ratings and commentary based on award-winning, proprietary tools. Its "safety first" approach to investing aims to reduce risk while seeking solid outperformance on a total return basis.The following ratings changes were generated on Monday, April 27. We've upgraded Amphenol ( APH), which engages in the design, manufacture and marketing of electrical, electronic and fiber optic connectors, from hold to buy. This rating is driven by the good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins. Net operating cash flow increased 30.2% to $142.8 million compared with the same quarter last year. Revenue fell 14.4%, and EPS are also down. Amphenol's debt-to-equity ratio of 0.6 is somewhat low overall but high compared with the industry average. Its 1.3 quick ratio is sturdy. Return on equity has decreased from the year-ago quarter, implying a minor weakness ni the organization. Net income fell 23.6% compared with the year-ago quarter, from $97.5 million to $74.4 million. We've upgraded Mexican food restaurant operator Chipotle Mexican Grill ( CMG) from hold to buy, driven by its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Revenue rose by 16.1% since the year-ago quarter, and EPS are also up. We feel that the company's two-year trend of EPS growth should continue. Chipotle's debt-to-equity ratio of 0.01 is very low and below the industry average, implying successful management of debt levels. Its 2.4 quick ratio demonstrates its ability to cover short-term liquidity needs. Net income increased by 46.9% compared with the year-ago quarter, from $17.3 million to $25.4 million. Net operating cash flow is up 30.6% to $63 million.