Monro Muffler Brake (NASDAQ:MNRO) Sets New 1-Year High Following Analyst Upgrade

Monro Muffler Brake, Inc. (NASDAQ:MNRO) hit a new 52-week high on Wednesday after Oppenheimer upgraded the stock from a market perform rating to an outperform rating. Oppenheimer now has a $40.00 price target on the stock. Monro Muffler Brake traded as high as $22.81 and last traded at $22.5650, with a volume of 18627 shares changing hands. The stock had previously closed at $21.32.

MNRO has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Monro Muffler Brake in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Monro Muffler Brake from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Finally, Wells Fargo & Company lowered 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 note on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.25.

Insider Buying and Selling at Monro Muffler Brake

In other Monro Muffler Brake news, CEO Peter D. Fitzsimmons acquired 12,750 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were purchased at an average price of $19.68 per share, for a total transaction of $250,920.00. Following the completion of the purchase, the chief executive officer directly owned 112,033 shares in the company, valued at $2,204,809.44. The trade was a 12.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Institutional Trading of Monro Muffler Brake

Several hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank lifted its stake in Monro Muffler Brake by 61.5% in the fourth quarter. Huntington National Bank now owns 1,996 shares of the auto parts company’s stock valued at $40,000 after buying an additional 760 shares during the period. GAMMA Investing LLC increased its position in shares of Monro Muffler Brake by 181.4% during the 3rd quarter. GAMMA Investing LLC now owns 7,318 shares of the auto parts company’s stock worth $132,000 after purchasing an additional 4,717 shares during the last quarter. TradeLink Capital LLC bought a new stake in Monro Muffler Brake in the third quarter valued at approximately $226,000. Los Angeles Capital Management LLC acquired a new stake in shares of Monro Muffler Brake during the 2nd quarter worth about $221,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Monro Muffler Brake by 4.6% in 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 in the last quarter.

Monro Muffler Brake Price Performance

The company’s fifty day moving average price is $20.42 and its 200 day moving average price is $18.27. 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 capitalization of $695.56 million, a P/E ratio of -49.30, a PEG ratio of 2.58 and a beta of 1.03.

Monro Muffler Brake (NASDAQ:MNRO) last announced its quarterly earnings results on Wednesday, January 28th. The auto parts company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The firm had revenue of $293.39 million for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. As a group, sell-side analysts forecast that Monro Muffler Brake, Inc. will post 0.63 EPS for the current year.

Monro Muffler Brake Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Tuesday, December 2nd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, December 2nd. Monro Muffler Brake’s dividend payout ratio is presently -238.30%.

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.