Monro (MNRO) Downgraded by BidaskClub to “Hold”

Monro (NASDAQ:MNRO) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Several other research firms have also recently weighed in on MNRO. Jefferies Group cut shares of Monro from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. TheStreet cut shares of Monro from a “b-” rating to a “c+” rating in a report on Monday, November 13th. Zacks Investment Research raised shares of Monro from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Wednesday, January 24th. Oppenheimer reaffirmed a “buy” rating on shares of Monro in a report on Tuesday, January 30th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Monro in a report on Tuesday, October 24th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $63.33.

Shares of Monro (NASDAQ MNRO) opened at $52.15 on Friday. The stock has a market capitalization of $1,710.26, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 1.84 and a beta of 0.62. Monro has a 12-month low of $39.65 and a 12-month high of $64.15. 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 (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, hitting the consensus estimate of $0.50. The firm 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 business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. sell-side analysts forecast that Monro will post 2.07 EPS for the current year.

In related news, Director Stephen C. Mccluski sold 10,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $55.51, for a total value of $555,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNRO. Wasatch Advisors Inc. increased its stake in Monro by 85.5% in the second quarter. Wasatch Advisors Inc. now owns 2,588,911 shares of the auto parts company’s stock valued at $108,087,000 after acquiring an additional 1,193,473 shares during the last quarter. FMR LLC bought a new position in Monro in the second quarter valued at $16,355,000. CWM LLC bought a new position in Monro in the fourth quarter valued at $12,802,000. Neuberger Berman Group LLC increased its stake in Monro by 15.2% in the third quarter. Neuberger Berman Group LLC now owns 1,375,231 shares of the auto parts company’s stock valued at $77,082,000 after acquiring an additional 181,405 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Monro by 24.2% in the second quarter. Dimensional Fund Advisors LP now owns 887,263 shares of the auto parts company’s stock valued at $37,043,000 after acquiring an additional 172,725 shares during the last quarter.

TRADEMARK VIOLATION NOTICE: This piece was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/11/monro-mnro-downgraded-by-bidaskclub-to-hold.html.

About Monro

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.

Analyst Recommendations for Monro (NASDAQ:MNRO)

Receive News & Ratings for Monro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monro and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply