Monro Muffler Brake (NASDAQ:MNRO) Shares Cross Above 200 Day Moving Average – Here’s Why

Monro Muffler Brake, Inc. (NASDAQ:MNRO) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.08 and traded as high as $20.16. Monro Muffler Brake shares last traded at $19.72, with a volume of 745,670 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MNRO shares. Weiss Ratings restated a “sell (d)” rating on shares of Monro Muffler Brake in a report on Thursday, January 22nd. Wall Street Zen upgraded Monro Muffler Brake from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Finally, Wells Fargo & Company decreased their target price on Monro Muffler Brake from $18.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.67.

Monro Muffler Brake Trading Up 4.6%

The company’s 50-day moving average is $20.17 and its 200 day moving average is $18.08. The company has a current ratio of 0.45, a quick ratio of 0.15 and a debt-to-equity ratio of 0.41. The firm has a market cap of $591.99 million, a PE ratio of -41.96, a P/E/G ratio of 2.29 and a beta of 1.03.

Monro Muffler Brake (NASDAQ:MNRO) last posted its quarterly earnings data on Wednesday, January 28th. The auto parts company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $293.39 million for the quarter, compared to analysts’ expectations of $295.19 million. Monro Muffler Brake had a negative net margin of 1.06% and a positive return on equity of 2.69%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. As a group, sell-side analysts predict that Monro Muffler Brake, Inc. will post 0.63 EPS for the current year.

Monro Muffler Brake Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Tuesday, December 2nd were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Tuesday, December 2nd. Monro Muffler Brake’s payout ratio is presently -238.30%.

Insider Activity

In related news, major shareholder Carl C. Icahn purchased 101,422 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average cost of $17.48 per share, for a total transaction of $1,772,856.56. Following the completion of the acquisition, the insider owned 5,078,573 shares in the company, valued at $88,773,456.04. This trade represents a 2.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Monro Muffler Brake

A number of hedge funds have recently modified their holdings of MNRO. GAMMA Investing LLC raised its holdings in shares of Monro Muffler Brake by 181.4% during the third quarter. GAMMA Investing LLC now owns 7,318 shares of the auto parts company’s stock worth $132,000 after acquiring an additional 4,717 shares in the last quarter. TradeLink Capital LLC acquired a new position in Monro Muffler Brake in the 3rd quarter worth about $226,000. Los Angeles Capital Management LLC purchased a new stake in shares of Monro Muffler Brake during the 2nd quarter worth about $221,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Monro Muffler Brake by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,775 shares of the auto parts company’s stock valued at $257,000 after buying an additional 780 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Monro Muffler Brake by 139.8% in the 1st quarter. Royal Bank of Canada now owns 27,904 shares of the auto parts company’s stock valued at $404,000 after buying an additional 16,268 shares in the last quarter.

Monro Muffler Brake Company Profile

Monro Muffler Brake (NASDAQ:MNRO) is a leading provider of undercar repair and maintenance services for light vehicles in the United States. The company’s core offerings include brake systems, exhaust systems, steering and suspension repairs, tire sales and service, oil and lube changes, wheel alignment, multi-point inspections, and state vehicle inspections. Monro serves both retail customers and fleet accounts, focusing on fast, reliable service and preventive maintenance to help extend vehicle life and safety.

Headquartered in Rochester, New York, Monro was originally founded in 1957 and has grown through a combination of organic expansion and strategic acquisitions.