Monro Muffler Brake (NASDAQ:MNRO) Shares Up 6.3% – Should You Buy?

Monro Muffler Brake, Inc. (NASDAQ:MNRO) was up 6.3% during trading on Wednesday . The stock traded as high as $18.17 and last traded at $18.10. Approximately 472,933 shares traded hands during trading, a decline of 49% from the average daily volume of 932,099 shares. The stock had previously closed at $17.03.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Monro Muffler Brake from $18.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Monro Muffler Brake in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Monro Muffler Brake from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. 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 company. Based on data from MarketBeat, Monro Muffler Brake currently has an average rating of “Hold” and an average price target of $17.67.

Monro Muffler Brake Price Performance

The business has a 50-day moving average price of $17.46 and a two-hundred day moving average price of $16.00. The company has a quick ratio of 0.16, a current ratio of 0.48 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $542.31 million, a price-to-earnings ratio of -26.98, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09.

Monro Muffler Brake (NASDAQ:MNRO) last posted its quarterly earnings results on Wednesday, October 29th. The auto parts company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. Monro Muffler Brake had a negative net margin of 1.60% and a positive return on equity of 2.77%. The business had revenue of $288.91 million during the quarter, compared to the consensus estimate of $299.04 million. During the same quarter last year, the firm posted $0.17 EPS. Monro Muffler Brake’s revenue was down 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Monro Muffler Brake, Inc. will post 0.63 EPS for the current year.

Insider Activity at Monro Muffler Brake

In other Monro Muffler Brake news, major shareholder Carl C. Icahn bought 101,422 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $17.48 per share, for a total transaction of $1,772,856.56. Following the acquisition, the insider directly owned 5,078,573 shares of the company’s stock, valued at approximately $88,773,456.04. The trade was a 2.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 1,278,132 shares of company stock worth $20,815,969 over the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Monro Muffler Brake

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Monro Muffler Brake by 453.4% in the second quarter. GAMMA Investing LLC now owns 2,601 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 2,131 shares during the last quarter. CWM LLC lifted its stake in Monro Muffler Brake by 132.3% during the 1st quarter. CWM LLC now owns 3,067 shares of the auto parts company’s stock valued at $44,000 after acquiring an additional 1,747 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Monro Muffler Brake in the 1st quarter worth $65,000. New York State Common Retirement Fund raised its holdings in shares of Monro Muffler Brake by 13.3% in the first quarter. New York State Common Retirement Fund now owns 10,253 shares of the auto parts company’s stock valued at $148,000 after purchasing an additional 1,203 shares during the last quarter. Finally, WBI Investments LLC bought a new position in shares of Monro Muffler Brake during the first quarter valued at about $179,000.

About Monro Muffler Brake

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services, automotive undercar repair services, and routine maintenance services primarily to passenger cars, light trucks, and vans. The company also provides other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.