Carl Icahn Acquires 428,967 Shares of Monro Muffler Brake (NASDAQ:MNRO) Stock

Monro Muffler Brake, Inc. (NASDAQ:MNRO) major shareholder Carl Icahn bought 428,967 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was purchased at an average price of $17.40 per share, with a total value of $7,464,025.80. Following the completion of the transaction, the insider directly owned 4,977,151 shares in the company, valued at approximately $86,602,427.40. This represents a 9.43% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Monro Muffler Brake Price Performance

NASDAQ:MNRO traded up $0.08 during trading hours on Friday, hitting $17.51. The company’s stock had a trading volume of 1,116,697 shares, compared to its average volume of 938,918. Monro Muffler Brake, Inc. has a twelve month low of $12.19 and a twelve month high of $30.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.48 and a quick ratio of 0.16. The stock has a fifty day simple moving average of $17.40 and a 200-day simple moving average of $15.83. The company has a market capitalization of $525.65 million, a P/E ratio of -26.13, a PEG ratio of 1.67 and a beta of 1.09.

Monro Muffler Brake (NASDAQ:MNRO) last issued its earnings results on Wednesday, October 29th. The auto parts company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The firm had revenue of $288.91 million for the quarter, compared to analyst estimates of $299.04 million. Monro Muffler Brake had a negative net margin of 1.60% and a positive return on equity of 2.77%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share. On average, analysts anticipate that Monro Muffler Brake, Inc. will post 0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Monro Muffler Brake

A number of institutional investors have recently added to or reduced their stakes in MNRO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Monro Muffler Brake by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,775 shares of the auto parts company’s stock valued at $257,000 after purchasing an additional 780 shares during the period. AlphaQuest LLC grew its stake in Monro Muffler Brake by 9.0% in the 1st quarter. AlphaQuest LLC now owns 13,727 shares of the auto parts company’s stock valued at $199,000 after buying an additional 1,128 shares in the last quarter. New York State Common Retirement Fund grew its stake in Monro Muffler Brake by 13.3% in the 1st quarter. New York State Common Retirement Fund now owns 10,253 shares of the auto parts company’s stock valued at $148,000 after buying an additional 1,203 shares in the last quarter. Rafferty Asset Management LLC raised its holdings in Monro Muffler Brake by 8.8% during the 1st quarter. Rafferty Asset Management LLC now owns 16,398 shares of the auto parts company’s stock valued at $237,000 after acquiring an additional 1,327 shares during the period. Finally, EntryPoint Capital LLC lifted its position in shares of Monro Muffler Brake by 11.2% during the first quarter. EntryPoint Capital LLC now owns 16,771 shares of the auto parts company’s stock worth $243,000 after acquiring an additional 1,695 shares in the last quarter.

Wall Street Analysts Forecast Growth

MNRO has been the topic of a number of research reports. Wall Street Zen lowered Monro Muffler Brake from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Monro Muffler Brake in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their target price on shares of Monro Muffler Brake from $18.00 to $16.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Monro Muffler Brake presently has an average rating of “Hold” and a consensus price target of $17.67.

About Monro Muffler Brake

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.