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 to clients and investors on Wednesday.
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 several other research reports. Susquehanna assumed coverage on shares of Monro Muffler Brake in a report on Thursday, August 25th. They issued a “positive” rating and a $66.00 price objective for the company. Jefferies Group reiterated a “buy” rating and issued a $72.00 price target on shares of Monro Muffler Brake in a research report on Friday, July 29th. Gabelli assumed coverage on shares of Monro Muffler Brake in a research report on Thursday, August 25th. They issued a “hold” rating on the stock. Finally, Northcoast Research cut shares of Monro Muffler Brake from a “neutral” rating to a “sell” rating in a research report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $75.88.
Shares of Monro Muffler Brake (NASDAQ:MNRO) opened at 60.60 on Wednesday. The firm has a market capitalization of $1.96 billion, a PE ratio of 31.25 and a beta of 0.84. The company has a 50 day moving average of $58.48 and a 200 day moving average of $63.77. Monro Muffler Brake has a 52-week low of $55.24 and a 52-week high of $77.00.
Monro Muffler Brake (NASDAQ:MNRO) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. The business earned $236.90 million during the quarter, compared to the consensus estimate of $235.12 million. Monro Muffler Brake had a net margin of 6.86% and a return on equity of 12.54%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.58 earnings per share. On average, 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 dated Thursday, August 25th. The stock was sold at an average price of $56.22, for a total transaction of $36,543.00. Following the sale, the insider now owns 500 shares in the company, valued at approximately $28,110. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher R. Hoornbeck sold 6,750 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $56.70, for a total value of $382,725.00. Following the sale, the insider now owns 26,855 shares in the company, valued at approximately $1,522,678.50. The disclosure for this sale can be found here. Company insiders own 7.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in 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 position 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 worth $158,000 after buying an additional 2,069 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of Monro Muffler Brake during the second quarter worth $165,000. BlackRock Inc. increased its position 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 worth $169,000 after buying an additional 1,388 shares in the last quarter. Finally, Barclays PLC increased its position 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 worth $196,000 after buying an additional 1,978 shares in the last quarter.
Monro Muffler Brake Company Profile
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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