Monro (NASDAQ:MNRO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Monro Muffler Brake, Inc. is a chain of 1,118 Company-operated stores, 114 franchised locations, five wholesale locations, two retread facilities and 14 dealer-operated stores providing automotive undercar repair and tire sales and services. Monro Muffler Brake operates a chain of stores providing automotive undercar repair and tire services in the United States, operating under the brand names of Monro Muffler Brake and Service, Speedy Auto Service by Monro, Kimmel Tires – Auto Service and Tread Quarters Discount Tires. Monro began to diversify into a full line of undercar repair services. The Company has experienced significant growth in recent years through acquisitions and, to a lesser extent, the opening of new construction stores. “
MNRO has been the topic of several other research reports. TheStreet cut shares of Monro from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th. Jefferies Group reiterated a “hold” rating on shares of Monro in a report on Wednesday, January 31st. Oppenheimer reiterated a “buy” rating on shares of Monro in a report on Friday, December 15th. Finally, BidaskClub upgraded shares of Monro from a “sell” rating to a “hold” rating in a report on Saturday, March 3rd. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $63.33.
Shares of Monro (NASDAQ MNRO) opened at $54.20 on Friday. The firm has a market cap of $1,798.80, a price-to-earnings ratio of 32.07, a P/E/G ratio of 1.93 and a beta of 0.70. Monro has a fifty-two week low of $39.65 and a fifty-two week high of $64.15. The company has a quick ratio of 0.33, a current ratio of 1.06 and a debt-to-equity ratio of 0.62.
Monro (NASDAQ:MNRO) last released its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $285.70 million for the quarter, compared to analysts’ expectations of $292.94 million. Monro had a net margin of 5.13% and a return on equity of 10.48%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 earnings per share. equities analysts expect that Monro will post 2.07 EPS for the current year.
In other news, insider Maureen Mulholland sold 3,000 shares of Monro stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $51.00, for a total value of $153,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen C. Mccluski sold 10,000 shares of Monro stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $55.51, for a total value of $555,100.00. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB purchased a new position in shares of Monro in the 4th quarter worth about $213,000. Advisor Group Inc. raised its position in shares of Monro by 837.7% in the 4th quarter. Advisor Group Inc. now owns 3,854 shares of the auto parts company’s stock worth $219,000 after purchasing an additional 3,443 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of Monro in the 4th quarter worth about $232,000. Paloma Partners Management Co purchased a new position in shares of Monro in the 4th quarter worth about $233,000. Finally, D.B. Root & Company LLC purchased a new position in shares of Monro in the 4th quarter worth about $249,000.
Monro Company Profile
Monro, Inc, formerly Monro Muffler Brake, Inc, is engaged in the provision of automotive undercar repair and tire services in the United States. The Company 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.
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