Monro Muffler Brake Inc. (MNRO) Stock Rating Upgraded by Zacks Investment Research
Monro Muffler Brake Inc. (NASDAQ:MNRO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Monro Muffler/Brake, Inc. is a chain of company-operated and dealer-operated stores providing automotive undercar repair services in the United States. Monro’s stores provide a full range of services for exhaust systems, brake systems, steering and suspension systems and many other vehicle maintenance services. The company’s stores typically are situated in high-visibility locations in suburban areas and small towns, as well as in major metropolitan areas. “
Several other equities analysts have also recently commented on the stock. Northcoast Research cut shares of Monro Muffler Brake from a “neutral” rating to a “sell” rating in a report on Thursday, July 14th. Gabelli initiated coverage on shares of Monro Muffler Brake in a report on Thursday, August 25th. They issued a “hold” rating for the company. Jefferies Group reiterated a “buy” rating and issued a $72.00 price objective on shares of Monro Muffler Brake in a report on Friday, July 29th. Finally, Susquehanna initiated coverage on shares of Monro Muffler Brake in a report on Thursday, August 25th. They issued a “positive” rating and a $66.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $75.88.
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Monro Muffler Brake (NASDAQ:MNRO) traded down 1.13% during trading on Wednesday, reaching $60.18. The company had a trading volume of 183,660 shares. The stock has a market cap of $1.94 billion, a P/E ratio of 31.04 and a beta of 0.84. Monro Muffler Brake has a 12-month low of $55.24 and a 12-month high of $77.00. The firm has a 50-day moving average price of $58.81 and a 200 day moving average price of $63.66.
Monro Muffler Brake (NASDAQ:MNRO) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. Monro Muffler Brake had a net margin of 6.86% and a return on equity of 12.54%. The business had revenue of $236.90 million for the quarter, compared to analysts’ expectations of $235.12 million. During the same period in the previous year, the company posted $0.58 EPS. Monro Muffler Brake’s revenue was up .2% on a year-over-year basis. Equities research analysts predict that Monro Muffler Brake will post $2.15 EPS for the current fiscal year.
In other Monro Muffler Brake news, insider John C. Lamb sold 650 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $56.22, for a total transaction of $36,543.00. Following the completion of the transaction, the insider now owns 500 shares of the company’s stock, valued at approximately $28,110. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher R. Hoornbeck sold 6,750 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $56.70, for a total transaction of $382,725.00. Following the transaction, the insider now directly owns 26,855 shares of the company’s stock, valued at approximately $1,522,678.50. The disclosure for this sale can be found here. Company insiders own 7.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MNRO. UBS Group AG raised its position in shares of Monro Muffler Brake by 8.9% in the first quarter. UBS Group AG now owns 7,863 shares of the company’s stock worth $562,000 after buying an additional 641 shares in the last quarter. State Street Corp raised its position in shares of Monro Muffler Brake by 0.3% in the first quarter. State Street Corp now owns 731,624 shares of the company’s stock worth $52,283,000 after buying an additional 2,458 shares in the last quarter. Royce & Associates LP raised its position in shares of Monro Muffler Brake by 1.3% in the first quarter. Royce & Associates LP now owns 761,000 shares of the company’s stock worth $54,389,000 after buying an additional 10,000 shares in the last quarter. Palisade Capital Management LLC NJ raised its position in shares of Monro Muffler Brake by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 67,703 shares of the company’s stock worth $4,839,000 after buying an additional 6,493 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its position in shares of Monro Muffler Brake by 4.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,042,589 shares of the company’s stock worth $74,514,000 after buying an additional 40,245 shares in the last quarter.
Monro Muffler Brake Company Profile
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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