Monro Muffler Brake’s (MNRO) Buy Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC restated their buy rating on shares of Monro Muffler Brake, Inc. (NASDAQ:MNRO) in a report published on Tuesday morning. Jefferies Group LLC currently has a $60.00 target price on the auto parts company’s stock.
Other analysts also recently issued research reports about the stock. Oppenheimer Holdings, Inc. reaffirmed a buy rating on shares of Monro Muffler Brake in a report on Wednesday, June 28th. TheStreet downgraded shares of Monro Muffler Brake from a b- rating to a c+ rating in a report on Tuesday, May 23rd. Stephens downgraded shares of Monro Muffler Brake from an overweight rating to an equal weight rating in a report on Thursday, June 29th. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and set a $51.00 price target (down previously from $54.00) on shares of Monro Muffler Brake in a report on Saturday, July 22nd. Finally, Susquehanna Bancshares Inc reaffirmed a neutral rating and set a $61.00 price target on shares of Monro Muffler Brake in a report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $63.33.
Shares of Monro Muffler Brake (NASDAQ MNRO) traded down 0.6267% on Tuesday, reaching $49.9351. 107,519 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $47.11 and its 200 day moving average price is $49.19. Monro Muffler Brake has a 12 month low of $39.65 and a 12 month high of $62.07. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 26.5895 and a beta of 0.71.
Monro Muffler Brake (NASDAQ:MNRO) last issued its quarterly earnings results on Thursday, July 20th. The auto parts company reported $0.55 earnings per share for the quarter, topping 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 the consensus estimate of $270.85 million. During the same quarter in the prior year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. Equities research analysts predict that Monro Muffler Brake will post $2.13 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Monday, August 28th were paid a $0.18 dividend. This is an increase from Monro Muffler Brake’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $0.72 annualized dividend and a yield of 1.43%. Monro Muffler Brake’s dividend payout ratio is presently 38.30%.
In related news, Director Stephen C. Mccluski acquired 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was acquired at an average price of $46.45 per share, with a total value of $55,740.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Heel John W. Van sold 129,089 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $46.76, for a total transaction of $6,036,201.64. Following the completion of the transaction, the chief executive officer now directly owns 202,463 shares of the company’s stock, valued at approximately $9,467,169.88. The disclosure for this sale can be found here. In the last three months, insiders purchased 6,893 shares of company stock valued at $328,155 and sold 244,064 shares valued at $11,438,709. 6.20% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in Monro Muffler Brake by 32.2% in the 1st quarter. Victory Capital Management Inc. now owns 2,560 shares of the auto parts company’s stock valued at $133,000 after purchasing an additional 623 shares during the last quarter. Forward Management LLC lifted its stake in Monro Muffler Brake by 9.5% in the 2nd quarter. Forward Management LLC now owns 2,662 shares of the auto parts company’s stock valued at $111,000 after purchasing an additional 231 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Monro Muffler Brake in the 1st quarter valued at approximately $141,000. Tudor Investment Corp ET AL bought a new position in Monro Muffler Brake in the 1st quarter valued at approximately $221,000. Finally, Capital Analysts LLC lifted its stake in Monro Muffler Brake by 18.5% in the 2nd quarter. Capital Analysts LLC now owns 4,255 shares of the auto parts company’s stock valued at $178,000 after purchasing an additional 665 shares during 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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