Monro Muffler Brake Inc. (MNRO) Sees Large Volume Increase
Shares of Monro Muffler Brake Inc. (NASDAQ:MNRO) saw unusually-strong trading volume on Thursday . Approximately 462,930 shares traded hands during trading, an increase of 83% from the previous session’s volume of 253,119 shares.The stock last traded at $55.77 and had previously closed at $56.41.
Several equities analysts have issued reports on MNRO shares. Northcoast Research cut shares of Monro Muffler Brake from a “neutral” rating to a “sell” rating in a research note on Thursday, July 14th. Gabelli began coverage on shares of Monro Muffler Brake in a research report on Thursday, August 25th. They set a “hold” rating for the company. Jefferies Group reduced their price target on shares of Monro Muffler Brake from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, May 20th. Sterne Agee CRT reaffirmed a “buy” rating and set a $75.00 price target (down previously from $77.00) on shares of Monro Muffler Brake in a research report on Monday, May 23rd. Finally, Zacks Investment Research lowered shares of Monro Muffler Brake from a “hold” rating to a “sell” rating in a research report on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $75.88.
The stock has a 50 day moving average of $60.01 and a 200-day moving average of $65.17. The stock has a market capitalization of $1.80 billion and a P/E ratio of 28.76.
Monro Muffler Brake (NASDAQ:MNRO) last posted its earnings results on Thursday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The company earned $236.90 million during the quarter, compared to analysts’ expectations of $235.12 million. During the same quarter last year, the firm earned $0.58 EPS. Monro Muffler Brake’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts predict that Monro Muffler Brake Inc. will post $2.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 22nd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Thursday, August 18th.
In other Monro Muffler Brake news, Director Peter J. Solomon sold 19,000 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $61.42, for a total value of $1,166,980.00. Following the completion of the sale, the director now owns 415,826 shares of the company’s stock, valued at $25,540,032.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher R. Hoornbeck sold 6,750 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $56.70, for a total value of $382,725.00. Following the completion of the sale, the insider now directly owns 26,855 shares of the company’s stock, valued at approximately $1,522,678.50. The disclosure for this sale can be found here.
Monro Muffler Brake, Inc is engaged in the provision of automotive undercar repair and tire services in the United States. The Company provides a range of services on passenger cars, light trucks and vans for brakes; mufflers and exhaust systems, and steering, drive train, suspension and wheel alignment.
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