Monro (NASDAQ:MNRO) Sets New 52-Week Low – Time to Sell?

Monro, Inc. (NASDAQ:MNRO) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $18.47 and last traded at $18.57, with a volume of 1271602 shares trading hands. The stock had previously closed at $19.64.

Analyst Ratings Changes

A number of analysts have recently issued reports on MNRO shares. Wedbush reissued an “outperform” rating and set a $31.00 target price on shares of Monro in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their target price on shares of Monro from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. Finally, Stephens started coverage on shares of Monro in a research note 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 0.45, a current ratio of 0.54 and a quick ratio of 0.19. The firm has a fifty day moving average of $24.46 and a two-hundred day moving average of $26.20. The stock has a market capitalization of $556.17 million, a P/E ratio of 29.02, a P/E/G ratio of 1.72 and a beta of 1.08.

Monro (NASDAQ:MNRO) last released its quarterly earnings data on Wednesday, January 29th. The auto parts company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.12). Monro had a net margin of 1.64% and a return on equity of 3.76%. On average, analysts predict that Monro, Inc. will post 0.76 EPS for the current year.

Monro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 6.03%. Monro’s dividend payout ratio is presently 175.00%.

Hedge Funds Weigh In On Monro

Large investors have recently added to or reduced their stakes in the company. Blueshift Asset Management LLC bought a new position in Monro in the third quarter worth about $830,000. Intech Investment Management LLC bought a new position in Monro in the third quarter worth about $1,205,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Monro in the third quarter worth about $515,000. Landscape Capital Management L.L.C. raised its holdings in Monro by 434.7% in the third quarter. Landscape Capital Management L.L.C. now owns 104,550 shares of the auto parts company’s stock worth $3,017,000 after purchasing an additional 84,996 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Monro by 2.5% in the third quarter. Geode Capital Management LLC now owns 823,250 shares of the auto parts company’s stock worth $23,763,000 after purchasing an additional 20,420 shares in the last quarter.

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.