Today: Today, Alta Capital Management LLC Buys 2,625 Shares of Monro Muffler Brake Inc. (MNRO)

Today, Alta Capital Management LLC Buys 2,625 Shares of Monro Muffler Brake Inc. (MNRO)

Alta Capital Management LLC raised its stake in Monro Muffler Brake Inc. (NASDAQ:MNRO) by 1.6% during the third quarter, Holdings Channel reports. The fund owned 171,260 shares of the company’s stock after buying an additional 2,625 shares during the period. Alta Capital Management LLC’s holdings in Monro Muffler Brake were worth $10,476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MNRO. Tower Research Capital LLC TRC increased its position in shares of Monro Muffler Brake by 1,026.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company’s stock valued at $143,000 after buying an additional 2,052 shares during the last quarter. Sei Investments Co. increased its position in shares of Monro Muffler Brake by 518.5% in the second quarter. Sei Investments Co. now owns 2,468 shares of the company’s stock valued at $158,000 after buying an additional 2,069 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Monro Muffler Brake during the second quarter valued at $165,000. BlackRock Inc. increased its position in shares of Monro Muffler Brake by 18.4% in the second quarter. BlackRock Inc. now owns 2,800 shares of the company’s stock valued at $179,000 after buying an additional 435 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Monro Muffler Brake by 179.8% in the second quarter. Barclays PLC now owns 3,078 shares of the company’s stock valued at $196,000 after buying an additional 1,978 shares during the last quarter.

Shares of Monro Muffler Brake Inc. (NASDAQ:MNRO) traded down 2.50% during mid-day trading on Monday, reaching $58.60. The company’s stock had a trading volume of 288,047 shares. The firm has a market capitalization of $1.89 billion, a P/E ratio of 30.89 and a beta of 0.83. The company’s 50-day moving average is $57.20 and its 200 day moving average is $60.58. Monro Muffler Brake Inc. has a 1-year low of $52.05 and a 1-year high of $77.00.

Monro Muffler Brake (NASDAQ:MNRO) last announced its earnings results on Thursday, October 20th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.56 by $0.03. Monro Muffler Brake had a net margin of 6.65% and a return on equity of 11.98%. The company earned $248.60 million during the quarter, compared to analysts’ expectations of $249.32 million. During the same quarter last year, the business posted $0.57 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts expect that Monro Muffler Brake Inc. will post $2.08 earnings per share for the current year.

Several brokerages have recently weighed in on MNRO. Susquehanna began coverage on Monro Muffler Brake in a research note on Thursday, August 25th. They set a “positive” rating and a $66.00 target price for the company. Zacks Investment Research downgraded Monro Muffler Brake from a “hold” rating to a “sell” rating in a research note on Friday, October 21st. Gabelli began coverage on Monro Muffler Brake in a research note on Thursday, August 25th. They set a “hold” rating for the company. Finally, Northcoast Research raised Monro Muffler Brake from a “sell” rating to a “neutral” rating in a research note on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. Monro Muffler Brake presently has an average rating of “Hold” and an average price target of $73.67.

In other Monro Muffler Brake news, insider John C. Lamb sold 925 shares of Monro Muffler Brake stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $58.17, for a total value of $53,807.25. Following the transaction, the insider now directly owns 500 shares in the company, valued at approximately $29,085. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter J. Solomon sold 10,000 shares of Monro Muffler Brake stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $55.21, for a total value of $552,100.00. The disclosure for this sale can be found here. 7.70% of the stock is owned by company insiders.

Monro Muffler Brake Company Profile

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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