Monro Muffler Brake (NASDAQ:MNRO) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Monro Muffler Brake shares recently crossed above their 200-day moving average at $15.46, trading as high as $18.79 with a current price of $18.25.
• Analysts have mixed predictions for the stock, with Wells Fargo reducing its price target from $16.00 to $15.00, while two analysts rated it as a Buy and one as a Hold, giving it a consensus price target of $17.33.
• The company reported $301.04 million in revenue for the last quarter, exceeding analyst estimates and showing a 2.7% increase compared to the previous year, alongside an EPS of $0.22.

Monro Muffler Brake, Inc. (NASDAQ:MNRO - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.46 and traded as high as $18.79. Monro Muffler Brake shares last traded at $18.25, with a volume of 1,252,843 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Monro Muffler Brake from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. Wall Street Zen raised shares of Monro Muffler Brake from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.33.

Monro Muffler Brake Stock Down 2.3%

The firm's 50-day moving average price is $16.60 and its 200-day moving average price is $15.46. The company has a market cap of $547.12 million, a price-to-earnings ratio of -27.24, a price-to-earnings-growth ratio of 1.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.50 and a quick ratio of 0.16.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The auto parts company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $301.04 million during the quarter, compared to analyst estimates of $295.05 million. Monro Muffler Brake had a negative net margin of 1.59% and a positive return on equity of 2.49%. The business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. Sell-side analysts forecast that Monro Muffler Brake, Inc. will post 0.63 earnings per share for the current fiscal year.

Monro Muffler Brake Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a $0.28 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $1.12 annualized dividend and a dividend yield of 6.1%. Monro Muffler Brake's dividend payout ratio is -167.16%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in shares of Monro Muffler Brake in the second quarter valued at $221,000. GAMMA Investing LLC boosted 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 valued at $39,000 after purchasing an additional 2,131 shares during the period. Inspire Investing LLC boosted its stake in shares of Monro Muffler Brake by 45.5% in the first quarter. Inspire Investing LLC now owns 23,709 shares of the auto parts company's stock valued at $343,000 after purchasing an additional 7,410 shares during the period. WBI Investments LLC purchased a new position in shares of Monro Muffler Brake in the first quarter valued at $179,000. Finally, Jane Street Group LLC boosted its stake in shares of Monro Muffler Brake by 85.2% in the first quarter. Jane Street Group LLC now owns 79,839 shares of the auto parts company's stock valued at $1,155,000 after purchasing an additional 36,734 shares during the period.

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.

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