Monro, Inc. (NASDAQ:MNRO) Short Interest Update

Monro, Inc. (NASDAQ:MNRO - Get Free Report) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 4,130,000 shares, a decline of 15.0% from the March 31st total of 4,860,000 shares. Currently, 14.3% of the company's stock are sold short. Based on an average daily trading volume, of 964,100 shares, the days-to-cover ratio is currently 4.3 days.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MNRO. Stephens upgraded Monro from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $21.00 to $18.00 in a research note on Friday, April 4th. Wedbush decreased their price objective on shares of Monro from $27.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company dropped their target price on shares of Monro from $20.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th.

Monro Stock Performance

MNRO traded down $0.46 on Monday, reaching $13.77. 472,607 shares of the stock were exchanged, compared to its average volume of 679,950. The company's 50-day moving average price is $15.48 and its 200 day moving average price is $21.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.19. The firm has a market capitalization of $412.40 million, a PE ratio of 21.52, a PEG ratio of 2.05 and a beta of 1.09. Monro has a fifty-two week low of $13.50 and a fifty-two week high of $31.49.

Monro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a $0.28 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.12 dividend on an annualized basis and a yield of 8.13%. Monro's dividend payout ratio is currently 175.00%.

Hedge Funds Weigh In On Monro

Several hedge funds and other institutional investors have recently bought and sold shares of MNRO. T. Rowe Price Investment Management Inc. increased its stake in shares of Monro by 3.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,702,250 shares of the auto parts company's stock worth $67,016,000 after acquiring an additional 85,378 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Monro by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,611,200 shares of the auto parts company's stock valued at $39,957,000 after purchasing an additional 253,518 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Monro by 34.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,193,289 shares of the auto parts company's stock worth $29,594,000 after purchasing an additional 302,515 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Monro during the 4th quarter valued at about $28,899,000. Finally, William Blair Investment Management LLC lifted its holdings in shares of Monro by 2.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,121,027 shares of the auto parts company's stock valued at $27,801,000 after buying an additional 23,184 shares during the period.

Monro Company Profile

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.