Monro, Inc. (NASDAQ:MNRO) Short Interest Up 22.7% in February

Monro, Inc. (NASDAQ:MNRO) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 4,320,000 shares, an increase of 22.7% from the February 13th total of 3,520,000 shares. Based on an average daily volume of 744,300 shares, the short-interest ratio is presently 5.8 days. Approximately 14.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MNRO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Monro by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,995 shares of the auto parts company’s stock worth $421,000 after buying an additional 577 shares in the last quarter. Quarry LP lifted its holdings in shares of Monro by 30.2% in the 3rd quarter. Quarry LP now owns 2,666 shares of the auto parts company’s stock valued at $77,000 after acquiring an additional 619 shares during the last quarter. Federated Hermes Inc. grew its position in Monro by 2.2% in the fourth quarter. Federated Hermes Inc. now owns 55,723 shares of the auto parts company’s stock worth $1,382,000 after acquiring an additional 1,217 shares in the last quarter. D.B. Root & Company LLC increased its stake in Monro by 8.7% during the fourth quarter. D.B. Root & Company LLC now owns 15,467 shares of the auto parts company’s stock worth $384,000 after acquiring an additional 1,233 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in Monro by 17.9% during the fourth quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company’s stock valued at $246,000 after purchasing an additional 1,506 shares during the period.

Analyst Upgrades and Downgrades

MNRO has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and set a $31.00 target price on shares of Monro in a research note on Wednesday, December 18th. Stephens reissued an “equal weight” rating and issued a $21.00 target price on shares of Monro in a report on Thursday, February 27th. Finally, Wells Fargo & Company cut their price target on Monro from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th.

Monro Stock Performance

Monro stock traded up $0.13 during trading on Wednesday, reaching $16.98. The company had a trading volume of 59,961 shares, compared to its average volume of 572,405. The firm has a market capitalization of $508.38 million, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09. The company has a current ratio of 0.54, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $19.36 and its 200 day simple moving average is $24.31. Monro has a 52 week low of $15.75 and a 52 week high of $32.06.

Monro (NASDAQ:MNRO) last posted its quarterly earnings data on Wednesday, January 29th. The auto parts company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.12). Monro had a return on equity of 3.76% and a net margin of 1.64%. Sell-side analysts forecast that Monro will post 0.63 earnings per share for the current fiscal year.

Monro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.12 annualized dividend and a dividend yield of 6.60%. Monro’s payout ratio is 175.00%.

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.