Monro Muffler Brake, Inc. (MNRO) Lifted to Hold at 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 research report issued on Thursday.
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 research analysts have also recently weighed in on MNRO. Stephens cut shares of Monro Muffler Brake from an “overweight” rating to an “equal weight” rating in a research report on Thursday, June 29th. BidaskClub raised shares of Monro Muffler Brake from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 price target on shares of Monro Muffler Brake in a research report on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $51.00 price target (down previously from $54.00) on shares of Monro Muffler Brake in a research report on Saturday, July 22nd. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and set a $61.00 price target on shares of Monro Muffler Brake in a research report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $63.33.
Shares of Monro Muffler Brake (MNRO) traded up 2.95% during trading on Thursday, reaching $52.35. 223,597 shares of the company were exchanged. Monro Muffler Brake has a one year low of $39.65 and a one year high of $62.07. The stock has a 50-day moving average price of $47.49 and a 200-day moving average price of $48.90. The stock has a market capitalization of $1.71 billion, a PE ratio of 27.88 and a beta of 0.71.
Monro Muffler Brake (NASDAQ:MNRO) last announced its quarterly earnings data on Thursday, July 20th. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. Monro Muffler Brake had a net margin of 5.84% and a return on equity of 10.90%. The company had revenue of $278.50 million during the quarter, compared to analysts’ expectations of $270.85 million. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s revenue was up 18.4% on a year-over-year basis. Analysts forecast that Monro Muffler Brake will post $2.13 EPS for the current year.
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In other Monro Muffler Brake news, CEO Heel John W. Van sold 129,089 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $46.76, for a total value of $6,036,201.64. Following the completion of the transaction, the chief executive officer now directly owns 202,463 shares in the company, valued at approximately $9,467,169.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Brett Ponton acquired 5,193 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was bought at an average price of $47.93 per share, with a total value of $248,900.49. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 6,893 shares of company stock valued at $328,155 and have sold 244,064 shares valued at $11,438,709. Corporate insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Crawford Investment Counsel Inc. raised its holdings in Monro Muffler Brake by 92.9% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 59,640 shares of the auto parts company’s stock worth $2,490,000 after purchasing an additional 28,720 shares in the last quarter. Scout Investments Inc. raised its holdings in Monro Muffler Brake by 3.9% in the 2nd quarter. Scout Investments Inc. now owns 95,925 shares of the auto parts company’s stock worth $4,005,000 after purchasing an additional 3,575 shares in the last quarter. State Street Corp raised its holdings in Monro Muffler Brake by 6.4% in the 1st quarter. State Street Corp now owns 845,677 shares of the auto parts company’s stock worth $44,059,000 after purchasing an additional 50,736 shares in the last quarter. Legal & General Group Plc raised its holdings in Monro Muffler Brake by 2.6% in the 1st quarter. Legal & General Group Plc now owns 57,925 shares of the auto parts company’s stock worth $3,018,000 after purchasing an additional 1,457 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Monro Muffler Brake by 166.9% in the 2nd quarter. Bank of Montreal Can now owns 143,518 shares of the auto parts company’s stock worth $5,992,000 after purchasing an additional 89,746 shares in the last quarter.
Monro Muffler Brake 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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