Monro (NASDAQ:MNRO) Hits New 52-Week Low – Here’s What Happened

Monro, Inc. (NASDAQ:MNRO) hit a new 52-week low on Monday . The stock traded as low as $18.26 and last traded at $18.62, with a volume of 12521 shares changing hands. The stock had previously closed at $18.71.

Analyst Upgrades and Downgrades

A number of analysts have commented on MNRO shares. Wedbush reaffirmed an “outperform” rating and set a $31.00 target price on shares of Monro in a report on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of Monro from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th.

Monro Trading Down 1.0 %

The stock has a market cap of $554.66 million, a price-to-earnings ratio of 28.92, a P/E/G ratio of 2.05 and a beta of 1.08. The business has a 50-day simple moving average of $21.97 and a two-hundred day simple moving average of $25.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.19.

Monro (NASDAQ:MNRO) last posted its quarterly earnings results on Wednesday, January 29th. The auto parts company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.12). Monro had a net margin of 1.64% and a return on equity of 3.76%. Equities analysts forecast that Monro, Inc. will post 0.63 EPS for the current fiscal year.

Monro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend is Tuesday, February 25th. Monro’s dividend payout ratio is presently 175.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Wealthfront Advisers LLC acquired a new position in Monro in the 4th quarter valued at $52,000. Quarry LP raised its holdings in Monro by 30.2% in the 3rd quarter. Quarry LP now owns 2,666 shares of the auto parts company’s stock valued at $77,000 after buying an additional 619 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Monro in the 4th quarter valued at approximately $156,000. XTX Topco Ltd bought a new stake in shares of Monro in the third quarter worth $213,000. Finally, ProShare Advisors LLC acquired a new stake in Monro in the fourth quarter valued at $223,000.

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.