P/E of 23, a PEG of 1.34, and pays a yield of 0.6%.

Brink's (BCO) was upgraded to Buy rating from Hold at Jefferies. Price target upped to $80 from $64 and FY08 eps estimates lift to $3.50 from $2.80.

Steel Partners II believes that Brink's is significantly undervalued and wants the company to pursue a tax-free spinoff of a business unit or to put itself up for sale. Steel Partners also wants Brink's to increase its share-buyback authorization to $500 million, from $100 million. Steel Partners has 3,027,310 shares (6.2%).

The Brink's Co. recently announced a $100 million dollar buyback.

The Brink's Company, through its subsidiaries, Brink's, Incorporated (Brink's) and Brink's Home Security, Inc. (BHS), provides transportation and cash logistics services in North America, Europe, Middle East, and Africa.

The stock trades for 6x cash flow.

Takeover target. Good financials

g.a.r.p.

buying stock back

… 500

Cramer's second pick was Brinks (BCO), which bought 21% of its shares outstanding in 2006 alone.

Brinks and the other two companies Cramer said he's emphasizing are three companies that "don't just shrink the float -- they devour it."

Brinks is a security company that has two segments, he said. One segment operates in armored cars, while the other operates in security alarms. It is a company, Cramer said, that's paying back debt even as it buys back "massive" amounts of stock.

"Activist investors are swarming all over this stock," he said. "BCO works if it gets bought, and it works if it decides to split itself into two separate companies."

buyback