Monro (NASDAQ:MNRO) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Friday, March 16th.
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. “
Several other research firms have also issued reports on MNRO. BidaskClub upgraded shares of Monro from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. TheStreet upgraded shares of Monro from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Jefferies Group restated a “hold” rating on shares of Monro in a research report on Wednesday, January 31st. Finally, Oppenheimer reiterated a “buy” rating on shares of Monro in a research report on Tuesday, January 30th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $62.14.
Shares of Monro stock opened at $52.00 on Friday. The firm has a market capitalization of $1,778.31, a P/E ratio of 28.69, a PEG ratio of 1.97 and a beta of 0.70. The company has a current ratio of 1.06, a quick ratio of 0.33 and a debt-to-equity ratio of 0.62. Monro has a twelve month low of $39.65 and a twelve month high of $64.15.
Monro (NASDAQ:MNRO) last posted its quarterly earnings data on Tuesday, January 30th. The auto parts company reported $0.50 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.50. Monro had a net margin of 5.13% and a return on equity of 10.48%. The business had revenue of $285.70 million for the quarter, compared to analyst estimates of $292.94 million. During the same quarter last year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. sell-side analysts forecast that Monro will post 2.01 EPS for the current year.
In related news, Director Stephen C. Mccluski sold 10,000 shares of Monro stock in a transaction on Monday, February 5th. The shares were sold at an average price of $55.51, for a total value of $555,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Maureen Mulholland sold 3,000 shares of Monro stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $51.00, for a total transaction of $153,000.00. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB acquired a new position in Monro during the 4th quarter worth $213,000. Advisor Group Inc. lifted its position in Monro by 837.7% during the 4th quarter. Advisor Group Inc. now owns 3,854 shares of the auto parts company’s stock worth $219,000 after acquiring an additional 3,443 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Monro during the 4th quarter worth $232,000. Paloma Partners Management Co acquired a new position in Monro during the 4th quarter worth $233,000. Finally, D.B. Root & Company LLC acquired a new position in Monro during the 4th quarter worth $249,000.
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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