Monro (NASDAQ:MNRO) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Monro, Inc. (NASDAQ:MNRO) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $26.11 and traded as high as $28.52. Monro shares last traded at $28.13, with a volume of 383,110 shares changing hands.

Wall Street Analyst Weigh In

Separately, Stephens assumed coverage on Monro in a research report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 target price for the company.

Monro Price Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.21 and a current ratio of 0.53. The company’s 50 day moving average price is $27.72 and its 200 day moving average price is $26.11. The company has a market cap of $842.49 million, a price-to-earnings ratio of 32.33, a P/E/G ratio of 2.33 and a beta of 1.11.

Monro (NASDAQ:MNRO) last announced its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.08). The firm had revenue of $301.39 million for the quarter, compared to the consensus estimate of $300.06 million. Monro had a net margin of 2.24% and a return on equity of 4.77%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. On average, equities research analysts predict that Monro, Inc. will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monro

Several institutional investors have recently bought and sold shares of the business. Millennium Management LLC increased its stake in shares of Monro by 3,587.8% in the second quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock valued at $27,181,000 after buying an additional 1,108,292 shares in the last quarter. Wellington Management Group LLP increased its position in Monro by 20.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,606,868 shares of the auto parts company’s stock valued at $46,374,000 after acquiring an additional 273,265 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in Monro in the 1st quarter valued at about $4,348,000. First Eagle Investment Management LLC raised its stake in shares of Monro by 78.9% in the second quarter. First Eagle Investment Management LLC now owns 254,900 shares of the auto parts company’s stock worth $6,082,000 after acquiring an additional 112,400 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its position in shares of Monro by 720.3% during the second quarter. Maverick Capital Ltd. now owns 121,354 shares of the auto parts company’s stock worth $2,896,000 after purchasing an additional 106,560 shares in the last quarter.

About Monro

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.