Barron's featured a quote form Mario Gabelli this past weekend. Mario indicated PBY owns $700 million worth of real estate and is carrying a $100 million tax loss carryover.That's why the shares are exploding higher in the premarket.
He also stated the following: What is the attrraction?
"There are 250 million cars on the road in the U.S. They are aging and will need repair work, which can be deferred only up to a point. Pep Boys just reported an awful quarter. But it could earn 70 cents a share next year and $1 a share in 2014."