Monro Muffler Brake (NASDAQ:MNRO) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Monro Muffler Brake, Inc. (NASDAQ:MNRO)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $17.04 and traded as high as $20.80. Monro Muffler Brake shares last traded at $20.8190, with a volume of 227,624 shares traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MNRO shares. Wall Street Zen upgraded Monro Muffler Brake from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Monro Muffler Brake in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price objective on shares of Monro Muffler Brake from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.67.

Monro Muffler Brake Stock Performance

The company has a current ratio of 0.48, a quick ratio of 0.16 and a debt-to-equity ratio of 0.44. The company has a market cap of $617.51 million, a P/E ratio of -30.70, a price-to-earnings-growth ratio of 2.52 and a beta of 1.04. The company has a 50 day moving average price of $18.54 and a 200-day moving average price of $17.07.

Monro Muffler Brake (NASDAQ:MNRO) last released its quarterly earnings data on Wednesday, October 29th. The auto parts company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $288.91 million during the quarter, compared to analysts’ expectations of $299.04 million. Monro Muffler Brake had a negative net margin of 1.60% and a positive return on equity of 2.77%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS. On average, equities analysts expect that Monro Muffler Brake, Inc. will post 0.63 earnings per share for the current fiscal year.

Monro Muffler Brake Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Tuesday, December 2nd were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 5.4%. Monro Muffler Brake’s payout ratio is currently -167.16%.

Insider Buying and Selling

In related news, major shareholder Carl C. Icahn purchased 639,473 shares of Monro Muffler Brake stock in a transaction on Tuesday, November 4th. The shares were purchased at an average price of $15.19 per share, for a total transaction of $9,713,594.87. Following the transaction, the insider owned 4,439,914 shares of the company’s stock, valued at approximately $67,442,293.66. This represents a 16.83% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders bought 1,278,132 shares of company stock worth $20,815,969. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Monro Muffler Brake

Several institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Monro Muffler Brake by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,775 shares of the auto parts company’s stock worth $257,000 after acquiring an additional 780 shares in the last quarter. AlphaQuest LLC increased its position in Monro Muffler Brake by 9.0% in the 1st quarter. AlphaQuest LLC now owns 13,727 shares of the auto parts company’s stock valued at $199,000 after buying an additional 1,128 shares in the last quarter. Rafferty Asset Management LLC increased its position in Monro Muffler Brake by 8.8% in the 1st quarter. Rafferty Asset Management LLC now owns 16,398 shares of the auto parts company’s stock valued at $237,000 after buying an additional 1,327 shares in the last quarter. GAMMA Investing LLC raised its stake in Monro Muffler Brake by 453.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,601 shares of the auto parts company’s stock worth $39,000 after buying an additional 2,131 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Monro Muffler Brake by 2.8% in the third quarter. Rhumbline Advisers now owns 91,446 shares of the auto parts company’s stock worth $1,643,000 after acquiring an additional 2,513 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.