Yahoo Finance Why Monro (MNRO) Stock Is Trading Up Today
What Happened:
Shares of auto services provider Monro (NASDAQ:MNRO) jumped 15.3% in the afternoon session after the company reported second quarter earnings results which blew past analysts' gross margin and EPS expectations. In addition, the company continued to expand its footprint, as it added new locations during the quarter, hinting at potential new growth opportunities. Overall, this was a really good quarter that should please shareholders.
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What is the market telling us:
Monro's shares are not very volatile than the market average and over the last year have had only 11 moves greater than 5%. Moves this big are very rare for Monro and that is indicating to us that this news had a significant impact on the market's perception of the business.
Monro is up 2.9% since the beginning of the year, but at $30.04 per share it is still trading 18% below its 52-week high of $36.65 from July 2023. Investors who bought $1,000 worth of Monro's shares 5 years ago would now be looking at an investment worth $356.13.
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