Monro Muffler Brake (NASDAQ:MNRO) Upgraded at Zacks Research

Monro Muffler Brake (NASDAQ:MNRO) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms also recently commented on MNRO. Weiss Ratings raised Monro Muffler Brake from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 30th. Wall Street Zen cut Monro Muffler Brake from a “sell” rating to a “strong sell” rating in a report on Saturday. Stephens reduced their price target on Monro Muffler Brake from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Finally, Wells Fargo & Company reduced their price target on Monro Muffler Brake from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $24.33.

Monro Muffler Brake Stock Up 2.7%

Shares of MNRO opened at $13.10 on Monday. Monro Muffler Brake has a 52 week low of $12.16 and a 52 week high of $23.91. The firm has a market cap of $409.51 million, a P/E ratio of 59.55, a price-to-earnings-growth ratio of 2.93 and a beta of 1.05. The firm’s 50-day simple moving average is $15.98 and its 200 day simple moving average is $17.48. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.16 and a current ratio of 0.49.

Monro Muffler Brake (NASDAQ:MNRO) last released its quarterly earnings results on Wednesday, July 29th. The auto parts company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.13). The company had revenue of $287.13 million during the quarter, compared to the consensus estimate of $286.30 million. Monro Muffler Brake had a net margin of 0.71% and a return on equity of 0.80%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. On average, analysts forecast that Monro Muffler Brake will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MNRO. Royal Bank of Canada lifted its position in Monro Muffler Brake by 139.8% during the first quarter. Royal Bank of Canada now owns 27,904 shares of the auto parts company’s stock worth $404,000 after purchasing an additional 16,268 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Monro Muffler Brake by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,775 shares of the auto parts company’s stock valued at $257,000 after buying an additional 780 shares during the period. Jones Financial Companies Lllp bought a new position in Monro Muffler Brake in the 1st quarter valued at about $559,000. Goldman Sachs Group Inc. increased its holdings in Monro Muffler Brake by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 688,075 shares of the auto parts company’s stock valued at $9,956,000 after buying an additional 68,862 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Monro Muffler Brake by 5.6% in the 1st quarter. Empowered Funds LLC now owns 141,635 shares of the auto parts company’s stock valued at $2,049,000 after buying an additional 7,464 shares in the last quarter.

About Monro Muffler Brake

Monro Muffler Brake (NASDAQ:MNRO) is a leading provider of undercar repair and maintenance services for light vehicles in the United States. The company’s core offerings include brake systems, exhaust systems, steering and suspension repairs, tire sales and service, oil and lube changes, wheel alignment, multi-point inspections, and state vehicle inspections. Monro serves both retail customers and fleet accounts, focusing on fast, reliable service and preventive maintenance to help extend vehicle life and safety.

Headquartered in Rochester, New York, Monro was originally founded in 1957 and has grown through a combination of organic expansion and strategic acquisitions.