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Pep Boys - Manny, Moe & Jack Message Board

  • sfwatching sfwatching Jan 14, 1998 3:10 PM Flag


    Does anyone know the specific reasons that Interstate/Johnson
    downgraded PBY?

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    • Have you wondered why some brokrage firms upgrade company that are negative on earning, and downgrade companies like PBY that are making money, they are not loosing money. Some times you wonder when PBY P/E ratio is around 14? Your respond, if any?

      • 1 Reply to halwani
      • I no longer put much faith in recommendations given by the "experts". I bought Peb Boys because of the glowing writeups in
        Value Line, which is quite an expensive subscription. I attended all the annual meetings and thought I had a good investment. The
        last few years were great for investments and I did well, except for the one black sheep, PBY. I finally decided to dump all my
        shares and took a loss of 5 or 6 thousand dollars. Possibly the worst is over and I sold at the wrong time, but I feel I should
        have known better to hold it so long as the losses accumulated. I guess I was hooked on the glowing annual reports and the
        "expert" analysts. I feel more comfortable now using the losses to help me on my taxes, and to get the proceeds into what I consider
        better investments. In conclusion, the shares now may be fairly priced and it may be a time to buy and accumulate, I really don't
        know. After 40 years of investing I should have reacted a lot sooner. But everyone makes mistakes. I also have discontinued my
        various subscriptions which are not so useful. I find much better info on the internet.

    • Have you wondered why some brokrage firm up grade company that are negative on earning, and down grade companies like PBY. Remember that PBY is still making money, they are loosing money. Some times you wonder? Your repond if any?

    • NEW YORK, Jan 14 (Reuters) - Interstate/Johnson Lane said Wednesday it lowered its rating on shares of Pep Boys - Manny, Moe & Jack to neutral from
      long-term buy.

      -- The firm also lowered its earnings estimates on the shares. Q4 EPS lowered to $0.16 from $0.27. 1997 EPS lowered to $1.38 from $1.49. 1998 EPS lowered
      to $1.60 from $1.65.

      -- Expenses associated with rollut of commercial delivery program to be onerous in Q4.