Monro Muffler Brake (NASDAQ:MNRO) Stock Crosses Above 200 Day Moving Average – What’s Next?

Monro Muffler Brake, Inc. (NASDAQ:MNRO) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $17.45 and traded as high as $20.89. Monro Muffler Brake shares last traded at $20.79, with a volume of 955,600 shares trading hands.

Wall Street Analysts Forecast Growth

MNRO has been the topic of several research analyst reports. 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 research note on Thursday, October 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Monro Muffler Brake in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Monro Muffler Brake from a “hold” rating to a “sell” rating in a research report on Saturday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Monro Muffler Brake has a consensus rating of “Hold” and a consensus price target of $17.67.

Monro Muffler Brake Price Performance

The company’s 50 day simple moving average is $19.20 and its 200 day simple moving average is $17.47. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.48 and a quick ratio of 0.16. The stock has a market cap of $624.12 million, a P/E ratio of -31.03, a P/E/G ratio of 2.52 and a beta of 1.01.

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

Monro Muffler Brake Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 16th. Investors of record on Tuesday, December 2nd were given a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 5.4%. Monro Muffler Brake’s dividend payout ratio (DPR) is -167.16%.

Insider Buying and Selling

In related news, major shareholder Carl C. Icahn purchased 639,473 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was purchased at an average cost of $15.19 per share, for a total transaction of $9,713,594.87. Following the completion of the purchase, the insider directly owned 4,439,914 shares in the company, valued at $67,442,293.66. This trade represents a 16.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 1,278,132 shares of company stock worth $20,815,969 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Monro Muffler Brake

Several hedge funds have recently added to or reduced their stakes in MNRO. GAMMA Investing LLC increased its holdings 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 last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Monro Muffler Brake during the 2nd quarter worth about $221,000. TradeLink Capital LLC acquired a new position in Monro Muffler Brake in the 3rd quarter valued at about $226,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 acquiring an additional 780 shares during the period. Finally, Inspire Investing LLC raised its holdings in Monro Muffler Brake by 45.5% in the 1st quarter. Inspire Investing LLC now owns 23,709 shares of the auto parts company’s stock valued at $343,000 after acquiring an additional 7,410 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.