Monro Muffler Brake (NASDAQ:MNRO) Trading 6.3% Higher – What’s Next?

Monro Muffler Brake, Inc. (NASDAQ:MNRO) shares shot up 6.3% on Wednesday . The company traded as high as $18.17 and last traded at $18.10. 472,933 shares were traded during mid-day trading, a decline of 49% from the average session volume of 932,099 shares. The stock had previously closed at $17.03.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MNRO shares. Wells Fargo & Company decreased their price target 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. Weiss Ratings restated a “sell (d)” rating on shares of Monro Muffler Brake in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Monro Muffler Brake from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.67.

Monro Muffler Brake Stock Performance

The company’s 50-day simple moving average is $17.46 and its 200-day simple moving average is $16.00. The stock has a market capitalization of $542.31 million, a price-to-earnings ratio of -26.98, a PEG ratio of 1.67 and a beta of 1.09. The company has a current ratio of 0.48, a quick ratio of 0.16 and a debt-to-equity ratio of 0.44.

Monro Muffler Brake (NASDAQ:MNRO) last issued its quarterly earnings data on Wednesday, October 29th. The auto parts company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $288.91 million for the quarter, compared to analysts’ expectations of $299.04 million. Monro Muffler Brake had a negative net margin of 1.60% and a positive return on equity of 2.77%. Monro Muffler Brake’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, analysts expect that Monro Muffler Brake, Inc. will post 0.63 EPS for the current year.

Insider Buying and Selling at Monro Muffler Brake

In related news, major shareholder Carl C. Icahn acquired 101,422 shares of the stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $17.48 per share, for a total transaction of $1,772,856.56. Following the completion of the transaction, the insider directly owned 5,078,573 shares of the company’s stock, valued at $88,773,456.04. The trade was a 2.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 1,278,132 shares of company stock valued at $20,815,969 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Monro Muffler Brake

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNRO. GAMMA Investing LLC lifted its position in shares of Monro Muffler Brake by 453.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,601 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 2,131 shares during the period. CWM LLC lifted its holdings in Monro Muffler Brake by 132.3% in the first quarter. CWM LLC now owns 3,067 shares of the auto parts company’s stock valued at $44,000 after buying an additional 1,747 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Monro Muffler Brake during the first quarter valued at $65,000. New York State Common Retirement Fund boosted its position in Monro Muffler Brake by 13.3% during the first quarter. New York State Common Retirement Fund now owns 10,253 shares of the auto parts company’s stock valued at $148,000 after acquiring an additional 1,203 shares during the last quarter. Finally, WBI Investments LLC acquired a new stake in Monro Muffler Brake during the 1st quarter worth about $179,000.

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.