Price Action to Note: Will Monro Muffler Brake Inc Short Squeeze Soon?

Price Action to Note: Will Monro Muffler Brake Inc Short Squeeze Soon?

The stock of Monro Muffler Brake Inc (NASDAQ:MNRO) hit a new 52-week low and has $50.27 target or 7.00% below today’s $54.05 share price. The 5 months bearish chart indicates high risk for the $1.72 billion company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $50.27 price target is reached, the company will be worth $120.40M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock closed at $54.05 during the last session. It is down 24.37% since March 31, 2016 and is downtrending. It has underperformed by 26.90% the S&P500.

Monro Muffler Brake Inc (NASDAQ:MNRO) Ratings Coverage

Out of 11 analysts covering Monro Muffler Brake (NASDAQ:MNRO), 5 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 45% are positive. Monro Muffler Brake has been the topic of 14 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Sector Weight” rating given on Wednesday, August 19 by KeyBanc Capital Markets. Evercore upgraded Monro Muffler Brake Inc (NASDAQ:MNRO) on Wednesday, August 5 to “Hold” rating. Gabelli initiated Monro Muffler Brake Inc (NASDAQ:MNRO) rating on Tuesday, December 8. Gabelli has “Hold” rating and $72 price target. As per Wednesday, April 6, the company rating was maintained by Goldman Sachs. CL King initiated the stock with “Neutral” rating in Monday, September 28 report. Northcoast upgraded Monro Muffler Brake Inc (NASDAQ:MNRO) on Thursday, October 27 to “Neutral” rating. The stock has “Buy” rating given by Jefferies on Friday, October 23. Stifel Nicolaus maintained the shares of MNRO in a report on Friday, October 23 with “Buy” rating. On Thursday, December 17 the stock rating was initiated by Goldman Sachs with “Neutral”. As per Tuesday, October 20, the company rating was initiated by Sterne Agee CRT.

According to Zacks Investment Research, “Monro Muffler/Brake, Inc. is a chain of company-operated and dealer-operated stores providing automotive undercar repair services in the United States. Monro’s stores provide a full range of services for exhaust systems, brake systems, steering and suspension systems and many other vehicle maintenance services. The company’s stores typically are situated in high-visibility locations in suburban areas and small towns, as well as in major metropolitan areas.”

Insitutional Activity: The institutional sentiment decreased to 1.22 in 2016 Q2. Its down 0.11, from 1.33 in 2016Q1. The ratio dived, as 18 funds sold all Monro Muffler Brake Inc shares owned while 60 reduced positions. 25 funds bought stakes while 70 increased positions. They now own 34.02 million shares or 2.60% more from 33.16 million shares in 2016Q1.
California Pub Employees Retirement owns 103,300 shares or 0.01% of their US portfolio. Blackrock Fund Advsr has 0.03% invested in the company for 2.02M shares. Mycio Wealth Limited Liability Company reported 104 shares or 0% of all its holdings. Amer Grp Incorporated Inc has 23,512 shares for 0% of their US portfolio. Huntington Natl Bank reported 3,436 shares or 0.01% of all its holdings. Moreover, Lpl Lc has 0.01% invested in Monro Muffler Brake Inc (NASDAQ:MNRO) for 11,182 shares. Glenmede Trust Na accumulated 2,640 shares or 0% of the stock. Da Davidson & Commerce holds 0% or 1,698 shares in its portfolio. Nationwide Fund Advsr has invested 0.05% of its portfolio in Monro Muffler Brake Inc (NASDAQ:MNRO). Columbia Wanger Asset Mngmt Limited owns 569,197 shares or 0.42% of their US portfolio. Ironbridge Cap Ltd Partnership holds 0.25% or 91,280 shares in its portfolio. Waddell & Reed reported 771,579 shares or 0.1% of all its holdings. Pnc Fincl Gru has 0.06% invested in the company for 781,963 shares. Northern last reported 551,880 shares in the company. Ameriprise Fincl has invested 0.01% of its portfolio in Monro Muffler Brake Inc (NASDAQ:MNRO).

Insider Transactions: Since May 24, 2016, the stock had 0 buys, and 8 sales for $3.48 million net activity. On Wednesday, June 1 the insider WOLSZON ELIZABETH A. sold $269,544. GLICKMAN DONALD had sold 6,666 shares worth $415,953. The insider SOLOMON PETER J sold 19,000 shares worth $1.17M. 6,750 shares were sold by HOORNBECK CHRISTOPHER R, worth $382,743 on Monday, August 22. 10,000 shares were sold by MELLOR ROBERT E, worth $621,322. Another trade for 650 shares valued at $36,546 was made by Lamb John C on Thursday, August 25.

More news for Monro Muffler Brake Inc (NASDAQ:MNRO) were recently published by: Globenewswire.com, which released: “Monro Muffler Brake, Inc. Announces First Quarter Fiscal 2017 Financial Results” on July 28, 2016. Globenewswire.com‘s article titled: “Monro Muffler Brake, Inc. to Present at CL King’s 14th Annual Best Ideas …” and published on September 06, 2016 is yet another important article.

MNRO Company Profile

Monro Muffler Brake, Inc., incorporated on October 5, 1959, is engaged in the provision of automotive undercar repair and tire services in the United States. The Firm 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. The Firm also provides other services and products, including tires and routine maintenance services, including state inspections. The Firm is also engaged in repair and replacement of parts. The Company’s store provides a range of undercar repair services for brakes, steering, mufflers and exhaust systems, drive train, suspension and wheel alignment, as well as tire replacement and service. These services apply to all makes and models of domestic and foreign cars, light trucks and vans.

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