Monro Muffler Brake (NASDAQ:MNRO) Shares Up 9.6% – Here’s What Happened

Monro Muffler Brake, Inc. (NASDAQ:MNRO)’s stock price rose 9.6% during trading on Wednesday . The company traded as high as $18.60 and last traded at $18.1460. Approximately 729,999 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 821,998 shares. The stock had previously closed at $16.56.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MNRO shares. Oppenheimer raised shares of Monro Muffler Brake from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Monro Muffler Brake in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.00.

Monro Muffler Brake Stock Up 1.3%

The business’s 50 day moving average is $16.42 and its 200-day moving average is $18.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.15 and a current ratio of 0.45. The firm has a market capitalization of $503.44 million, a price-to-earnings ratio of -35.71, a price-to-earnings-growth ratio of 1.64 and a beta of 1.07.

Monro Muffler Brake (NASDAQ:MNRO) last issued its quarterly earnings results on Wednesday, May 27th. The auto parts company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.12). Monro Muffler Brake had a negative net margin of 1.06% and a positive return on equity of 2.69%. The company had revenue of $273.84 million during the quarter, compared to the consensus estimate of $283.48 million. During the same period last year, the company earned ($0.09) earnings per share. Monro Muffler Brake’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts anticipate that Monro Muffler Brake, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Trading of Monro Muffler Brake

A number of hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its holdings in Monro Muffler Brake by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 688,075 shares of the auto parts company’s stock valued at $9,956,000 after purchasing an additional 68,862 shares during the period. SG Americas Securities LLC boosted its holdings in Monro Muffler Brake by 19.1% in the 1st quarter. SG Americas Securities LLC now owns 147,901 shares of the auto parts company’s stock valued at $2,372,000 after purchasing an additional 23,679 shares during the period. Empowered Funds LLC boosted its holdings in Monro Muffler Brake by 5.6% in the 1st quarter. Empowered Funds LLC now owns 141,635 shares of the auto parts company’s stock valued at $2,049,000 after purchasing an additional 7,464 shares during the period. Rhumbline Advisers boosted its holdings in Monro Muffler Brake by 2.8% in the 3rd quarter. Rhumbline Advisers now owns 91,446 shares of the auto parts company’s stock valued at $1,643,000 after purchasing an additional 2,513 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Monro Muffler Brake by 85.2% during the 1st quarter. Jane Street Group LLC now owns 79,839 shares of the auto parts company’s stock worth $1,155,000 after acquiring an additional 36,734 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.