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

Monro Muffler Brake, Inc. (NASDAQ:MNRO) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $18.65 and traded as high as $23.47. Monro Muffler Brake shares last traded at $22.79, with a volume of 659,584 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MNRO shares. Oppenheimer upgraded Monro Muffler Brake from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Wednesday, February 11th. Wall Street Zen upgraded Monro Muffler Brake from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of Monro Muffler Brake in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company decreased 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 report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $23.25.

Monro Muffler Brake Trading Up 0.9%

The company has a quick ratio of 0.15, a current ratio of 0.45 and a debt-to-equity ratio of 0.41. The company has a market cap of $684.16 million, a P/E ratio of -48.49, a P/E/G ratio of 2.69 and a beta of 1.03. The business has a 50-day moving average price of $20.84 and a two-hundred day moving average price of $18.65.

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

Monro Muffler Brake Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 4.9%. The ex-dividend date is Tuesday, February 24th. Monro Muffler Brake’s dividend payout ratio is currently -238.30%.

Insider Transactions at Monro Muffler Brake

In other Monro Muffler Brake news, CEO Peter D. Fitzsimmons bought 12,750 shares of the stock in a transaction on Thursday, February 5th. The stock was purchased at an average price of $19.68 per share, with a total value of $250,920.00. Following the acquisition, the chief executive officer owned 112,033 shares of the company’s stock, valued at approximately $2,204,809.44. The trade was a 12.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Monro Muffler Brake

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in Monro Muffler Brake by 138.8% in the fourth quarter. SG Americas Securities LLC now owns 124,222 shares of the auto parts company’s stock valued at $2,489,000 after buying an additional 72,204 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Monro Muffler Brake by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 688,075 shares of the auto parts company’s stock valued at $9,956,000 after acquiring an additional 68,862 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Monro Muffler Brake in the 1st quarter valued at approximately $559,000. Jane Street Group LLC boosted its stake in Monro Muffler Brake by 85.2% during the 1st quarter. Jane Street Group LLC now owns 79,839 shares of the auto parts company’s stock worth $1,155,000 after acquiring an additional 36,734 shares during the last quarter. Finally, 1620 Investment Advisors Inc. grew its holdings in Monro Muffler Brake by 143.6% during the third quarter. 1620 Investment Advisors Inc. now owns 50,431 shares of the auto parts company’s stock valued at $906,000 after purchasing an additional 29,731 shares during the period.

About Monro Muffler Brake

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.