What’s Driving Monro Muffler’s Success?

Don’t let the fact that Monro Muffler Brake literally did nothing on Friday after reporting a better-than-expected quarter the day before. That’s not a warning sign, Cramer said, it’s an opportunity.

See, Monro’s riding a bull market in aftermarket auto parts, one set off by the decreasing number of car dealerships across the US. Plus, people in this economy are keeping their cars longer, and that drives still more business through Monro’s doors. That’s how the company was able to beat the Street’s consensus earnings estimate of 61 cents a share by 2 cents.

MNRO is up an eye-popping 133 percent since Cramer first recommended it on Aug. 19, 2008. And the stock has risen 37 percent since he reiterated the call on Jan. 28 of this year. Compare that to the S&P 500’s 7-percent decline over the same period. Despite these moves, though, Monro is trading at just 19 times next year’s earnings on a 22-percent growth rate. As far as Cramer’s concerned, that’s just too cheap given strength he sees in this company.

He wanted viewers to know more about Monro, so he invited CEO Robert Gross onto the show. Watch the video for the full interview.

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