What’s Propelling Monro, Inc. (MNRO) to Decrease? The Stock Formed a Bearish Head & Shoulders

March 23, 2018 - By Marguerite Chambers

Investors sentiment increased to 1.42 in 2017 Q3. Its up 0.20, from 1.22 in 2017Q2. It increased, as 25 investors sold Monro, Inc. shares while 41 reduced holdings. 31 funds opened positions while 63 raised stakes. 35.68 million shares or 7.15% more from 33.30 million shares in 2017Q2 were reported.
Pivot Point Ptnrs Limited Liability Corporation holds 15.93% or 356,700 shares in its portfolio. Eaton Vance holds 69,056 shares. Fdx Advisors Inc has invested 0.04% in Monro, Inc. (NASDAQ:MNRO). Summit Creek Ltd Company has 232,071 shares for 2.56% of their portfolio. 418,194 are owned by National Bank & Trust Of America Corp De. Cardinal Cap Management has invested 0.18% in Monro, Inc. (NASDAQ:MNRO). 71,140 are owned by Crawford Inv Counsel Inc. Clearbridge Ltd has invested 0.39% of its portfolio in Monro, Inc. (NASDAQ:MNRO). Old National Bank In holds 0.04% of its portfolio in Monro, Inc. (NASDAQ:MNRO) for 12,119 shares. Parametric Associate Limited Liability Company owns 76,776 shares for 0% of their portfolio. Columbia Wanger Asset Mngmt Ltd Com reported 276,014 shares. Voya Invest Mgmt Limited Liability holds 43,925 shares or 0.01% of its portfolio. Granite Ptnrs Limited Liability invested in 1.28% or 368,406 shares. Ny State Common Retirement Fund, New York-based fund reported 59,131 shares. Grandeur Peak Glob Advisors Ltd Liability invested in 0.42% or 49,000 shares.

Since February 5, 2018, it had 0 buys, and 2 insider sales for $708,100 activity. Mulholland Maureen had sold 3,000 shares worth $153,000.

The stock of Monro, Inc. (MNRO) formed H&S with $48.31 target or 7.00 % below today’s $51.95 share price. The 5 months Head & Shoulders indicates high risk for the $1.70B company. It was reported on Mar, 23 by Faxor.com. If the $48.31 price target is reached, the company will be worth $119.28M less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock decreased 0.10% or $0.05 during the last trading session, reaching $51.95. About 28,702 shares traded. Monro, Inc. (NASDAQ:MNRO) has declined 18.88% since March 23, 2017 and is downtrending. It has underperformed by 35.58% the S&P500.

Analysts await Monro, Inc. (NASDAQ:MNRO) to report earnings on May, 17. They expect $0.49 earnings per share, up 68.97 % or $0.20 from last year’s $0.29 per share. MNRO’s profit will be $16.07 million for 26.51 P/E if the $0.49 EPS becomes a reality. After $0.50 actual earnings per share reported by Monro, Inc. for the previous quarter, Wall Street now forecasts -2.00 % negative EPS growth.

Monro, Inc. (NASDAQ:MNRO) Ratings Coverage

Among 13 analysts covering Monro Muffler Brake (NASDAQ:MNRO), 4 have Buy rating, 0 Sell and 9 Hold. Therefore 31% are positive. Monro Muffler Brake had 28 analyst reports since August 5, 2015 according to SRatingsIntel. Jefferies downgraded Monro, Inc. (NASDAQ:MNRO) on Thursday, October 12 to “Hold” rating. The rating was downgraded by Stephens to “Equal-Weight” on Thursday, June 29. Oppenheimer maintained the shares of MNRO in report on Thursday, July 20 with “Buy” rating. Gabelli initiated Monro, Inc. (NASDAQ:MNRO) on Tuesday, December 8 with “Hold” rating. The stock of Monro, Inc. (NASDAQ:MNRO) earned “Buy” rating by Oppenheimer on Wednesday, June 28. The stock of Monro, Inc. (NASDAQ:MNRO) has “Buy” rating given on Wednesday, June 14 by Jefferies. Susquehanna downgraded the stock to “Neutral” rating in Tuesday, June 20 report. Jefferies maintained Monro, Inc. (NASDAQ:MNRO) rating on Wednesday, July 19. Jefferies has “Buy” rating and $6000 target. Sterne Agee CRT initiated Monro, Inc. (NASDAQ:MNRO) on Tuesday, October 20 with “Buy” rating. The company was initiated on Tuesday, September 15 by Jefferies.

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