Monro Muffler Brake on Monday delivered a better-than-expected quarter and boosted its outlook for 2010 – “a genuine beat and raise,” Cramer said, who first endorsed the stock on Aug. 18, 2008, as a play on closing auto dealerships. Well, Monro is up 48% since then, and the share price has climbed 18% since he reiterated the call on May 15 of this year.
Monro is the largest pure play under-car care service chain in America, and the company’s been making quiet but smart acquisitions as the downturn forces smaller competitors out of business. The stock hit a 52-week today of $34.26, but sunk back down to $31.66 by the close of trading. Cramer sees MNRO working its way back up to $32, $34 or even higher, but he wanted to ask the CEO before setting his price target.
Watch the video for his full interview with CEO Rob Gross.
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