PBY could put up #'s that beat expectations when they report next month. Expectations of 19 cents vs 13 cents and sales of $539 versus $526 m could be too low because they don't account for PBY's stock repurchase program. I expect PBY to meet on sales, but exceed on the bottom line, due to fewer shares outstanding. Look for PBY to earn 22 cents and raise guidance for the remainder of the year.
Shorthigh-------You have made some great calls like Winn-Dixie and many others......but as you quoted me once in one of your articles in Seeking Alpha......... I know this stock pretty well. I still know about 35-40 of their store managers that used to work for me which I talk to from time to time. Moral at PBY is the pits. The company buying back shares is giving some support to stock price. PBY hasn't been above $13 in over 15 months. I still think we will see $11 before $14. I meant to post that 2-3 days ago when PBY was $12.50 but I was still laughing at the broken clock jab. Even a first grader knows a broken clock is always right two times a day. So, in 20 years with posting on PBY that would make me right at least 14,608 times which is probably pretty close . Had to say that.......If market hadn't risen like a meteor, PBY would already be below $10. I remember 5-7 years ago when the two hedge fund guys controlling the BOD's had them buyback shares around $14.50 in the open market just before it crashed down to about $4.........which is where I made over a half million on PBY that year......and you did nicely too as I remember.
I just don't see where anyone wants to by this company for more than $12 a share. The only reason it trades at current level is because ORLY, AZO and AAP have launched into the stratosphere and anyone wanting to play the sector that can't afford $83 to $400+ a share buys PBY. AAP is at a PE of 15 and AZO at 16 while ORLY is 22.......who in their right mind would pay the current PE of 24 for PBY with a failed model while the other 3 keep rocking. Hope springs eternal but PBY should be at $10-11 at least right now and that is being generous with O'Dell at the helm. As PT Barnum once said, there is a fool born every minute and perhaps someday PBY will find that fool.
daninfw04: the company has not yet commenced buying back shares as of the end of the first quarter, so I am not sure where the support is coming form unless it is the Glenhill buying. I doubt they (PBY) purchased shares back during the second quarter either, because the stock was generally quite strong and I doubt they would be buying at higher prices. If the shares do selloff to the low $11's , will you be a buyer again or are you going to wait for a possible drop back down to $9?