Neutral - Price 2.17 on July 1
by Global Hunter Securities

Hartmarx, the largest manufacturer and marketer of men's suits and sport coats in the U.S., has been completing a strategic initiative to exit the majority of its low-margin, moderately priced, tailored men's clothing sold through mainstream department stores. While strategy execution has been on-plan, the slowdown in consumer spending is now negatively impacting HMX' income statement and balance sheet. Given ongoing weak consumer environment, we've cut our rating to Neutral, from Buy. We believe HMX' valuation should merit a P/E of 13 times our '09 EPS estimate, or 8 times our E-Ebitda [earnings before interest, taxes, depreciation and amortization], for a 2 target. Market cap: $76 million.

Homex (HXM) as a homebuilder..

Hartmarx today announced a 3 million share repurchase program. At September 30, 2007, there were 36,701,750 common shares outstanding. This new buyback program will be adding onto a 2 million share repurchase program that was approved in October of 2005.

A little heavier on debt than I like, but has inventory they record with more value than the debt.

Also waiting for them to pull in some of those outstanding receivables.

Good for a qucik trade only