Monro (NASDAQ:MNRO) Shares Gap Down – Here’s Why

Monro, Inc. (NASDAQ:MNRO) gapped down before the market opened on Wednesday . The stock had previously closed at $26.79, but opened at $25.31. Monro shares last traded at $25.90, with a volume of 18,286 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Stephens began coverage on shares of Monro in a research note on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price objective on the stock.

Monro Trading Up 3.1 %

The company has a market capitalization of $826.72 million, a price-to-earnings ratio of 22.70, a P/E/G ratio of 1.82 and a beta of 1.11. The company has a quick ratio of 0.25, a current ratio of 0.59 and a debt-to-equity ratio of 0.55. The company’s 50 day simple moving average is $27.07 and its two-hundred day simple moving average is $26.11.

Monro (NASDAQ:MNRO) last announced its earnings results on Wednesday, July 31st. The auto parts company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.21. The company had revenue of $293.20 million during the quarter, compared to the consensus estimate of $293.70 million. Monro had a net margin of 2.78% and a return on equity of 5.90%. Monro’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. As a group, research analysts anticipate that Monro, Inc. will post 1 earnings per share for the current fiscal year.

Monro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.12 annualized dividend and a yield of 4.05%. Monro’s dividend payout ratio (DPR) is 94.92%.

Institutional Investors Weigh In On Monro

Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of Monro by 289.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,309 shares of the auto parts company’s stock worth $97,000 after buying an additional 2,460 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Monro by 3.0% in the first quarter. Wasatch Advisors LP now owns 20,958 shares of the auto parts company’s stock worth $661,000 after buying an additional 615 shares during the last quarter. Prosperity Consulting Group LLC purchased a new position in shares of Monro in the first quarter worth $504,000. Pullen Investment Management LLC purchased a new position in shares of Monro during the first quarter worth $1,353,000. Finally, Heartland Advisors Inc. raised its holdings in shares of Monro by 27.4% during the first quarter. Heartland Advisors Inc. now owns 185,076 shares of the auto parts company’s stock worth $5,837,000 after purchasing an additional 39,832 shares during 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.