NEW YORK (TheStreet) -- Pep Boys - Manny, Moe & Jack (PBY) stock is climbing in post-market trading after the company said it expects a better second half to the year. After the bell, shares added 3% to $10.84.
"Through the first five weeks of the second quarter, we have seen our service business improve to a positive comp despite the continued pressure in tire pricing. Our service business footprint also continues its growth with 25 new Service & Tire Centers planned for 2014," CEO Mike Odell said in a statement.
The expected improvement is despite a challenging first quarter. The company earned 3 cents a share over the three months to April, 3 cents short of what analysts surveyed by Thomson Reuters expected. Comparable sales decreased 1.4%.
TheStreet Ratings team rates PEP BOYS-MANNY MOE & JACK as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate PEP BOYS-MANNY MOE & JACK (PBY) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its increase in net income, good cash flow from operations and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and poor profit margins."