Monro (NASDAQ:MNRO) Sets New 52-Week Low - Should You Sell?

Monro, Inc. (NASDAQ:MNRO - Get Free Report) shares reached a new 52-week low during trading on Monday . The stock traded as low as $17.44 and last traded at $17.48, with a volume of 631034 shares. The stock had previously closed at $17.81.

Wall Street Analysts Forecast Growth

MNRO has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Monro from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Stephens reiterated an "equal weight" rating and set a $21.00 price objective on shares of Monro in a research note on Thursday, February 27th. Finally, Wedbush restated an "outperform" rating and issued a $31.00 target price on shares of Monro in a research note on Wednesday, December 18th.

Monro Stock Performance

The company's fifty day simple moving average is $20.59 and its 200 day simple moving average is $24.93. The stock has a market capitalization of $501.05 million, a P/E ratio of 26.14, a P/E/G ratio of 2.05 and a beta of 1.08. The company has a current ratio of 0.54, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45.

Monro (NASDAQ:MNRO - Get Free Report) last posted its earnings results 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%. As a group, sell-side analysts forecast that Monro, Inc. will post 0.63 earnings per share for the current fiscal year.

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Monro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend is Tuesday, February 25th. Monro's payout ratio is 175.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its stake in Monro by 3.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,702,250 shares of the auto parts company's stock worth $67,016,000 after purchasing an additional 85,378 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Monro by 18.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,611,200 shares of the auto parts company's stock valued at $39,957,000 after buying an additional 253,518 shares in the last quarter. Wellington Management Group LLP lifted its position in Monro by 20.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,606,868 shares of the auto parts company's stock worth $46,374,000 after buying an additional 273,265 shares during the last quarter. State Street Corp boosted its stake in Monro by 0.8% in the third quarter. State Street Corp now owns 1,344,978 shares of the auto parts company's stock worth $38,816,000 after buying an additional 11,265 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Monro by 34.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,193,289 shares of the auto parts company's stock valued at $29,594,000 after acquiring an additional 302,515 shares during the last quarter.

About Monro

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.