Monro Muffler Brake Inc. (MNRO) Downgraded by Zacks Investment Research
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. “
MNRO has been the subject of a number of other research reports. Susquehanna began coverage on Monro Muffler Brake in a research report on Thursday, August 25th. They set a positive rating and a $66.00 price target for the company. Jefferies Group reiterated a buy rating and set a $72.00 price target on shares of Monro Muffler Brake in a research report on Friday, July 29th. Gabelli began coverage on Monro Muffler Brake in a research report on Thursday, August 25th. They set a hold rating for the company. Finally, Northcoast Research downgraded Monro Muffler Brake from a neutral rating to a sell rating in a research report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $75.88.
Monro Muffler Brake (NASDAQ:MNRO) opened at 60.69 on Thursday. The company has a market cap of $1.96 billion, a PE ratio of 31.30 and a beta of 0.84. The stock has a 50 day moving average of $58.37 and a 200-day moving average of $63.83. Monro Muffler Brake has a 12-month low of $55.24 and a 12-month high of $77.00.
Monro Muffler Brake (NASDAQ:MNRO) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The firm earned $236.90 million during the quarter, compared to the consensus estimate of $235.12 million. Monro Muffler Brake had a return on equity of 12.54% and a net margin of 6.86%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company posted $0.58 EPS. On average, equities research analysts anticipate that Monro Muffler Brake will post $2.15 earnings per share 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 that occurred on Thursday, August 25th. The stock was sold at an average price of $56.22, for a total value of $36,543.00. Following the completion of the sale, the insider now owns 500 shares in the company, valued at $28,110. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher R. Hoornbeck sold 6,750 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $56.70, for a total value of $382,725.00. Following the completion of the sale, the insider now 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. 7.70% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in MNRO. Tower Research Capital LLC TRC increased its stake in shares of Monro Muffler Brake by 1,026.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,252 shares of the company’s stock valued at $143,000 after buying an additional 2,052 shares during the last quarter. Sei Investments Co. increased its stake in shares of Monro Muffler Brake by 518.5% in the second quarter. Sei Investments Co. now owns 2,468 shares of the company’s stock valued at $158,000 after buying an additional 2,069 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Monro Muffler Brake during the second quarter valued at $165,000. BlackRock Inc. increased its stake in shares of Monro Muffler Brake by 142.1% in the first quarter. BlackRock Inc. now owns 2,365 shares of the company’s stock valued at $169,000 after buying an additional 1,388 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Monro Muffler Brake by 179.8% in the second quarter. Barclays PLC now owns 3,078 shares of the company’s stock valued at $196,000 after buying an additional 1,978 shares during the last quarter.
About Monro Muffler Brake
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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