Monro Muffler Brake (NASDAQ:MNRO) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Monro Muffler Brake from “hold” to “strong sell.” Other analysts have also cut price targets, though the consensus rating remains “Hold” with an average target of $23.
• Monro reported a quarterly loss of $0.01 per share, missing the $0.05 consensus estimate; revenue was $283.64 million, down 1.8% year over year.
• Shares opened at $10.35, near their 52-week low of $10.32, and below both their 50-day and 200-day moving averages.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Wednesday, Zacks reports.

Several other equities research analysts have also weighed in on the stock. Stephens dropped their price objective on shares of Monro Muffler Brake from $20.00 to $17.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Wells Fargo & Company cut their target price on shares of Monro Muffler Brake from $15.00 to $12.00 and set an "equal weight" rating on the stock in a report on Friday, October 30th. Wall Street Zen downgraded Monro Muffler Brake from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings lowered Monro Muffler Brake from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, September 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Monro Muffler Brake has an average rating of "Hold" and an average target price of $23.00.

Monro Muffler Brake Stock Performance

MNRO stock opened at $10.35 on Wednesday. Monro Muffler Brake has a 1-year low of $10.32 and a 1-year high of $23.91. The firm has a fifty day moving average price of $13.03 and a two-hundred day moving average price of $15.68. The company has a current ratio of 0.48, a quick ratio of 0.16 and a debt-to-equity ratio of 0.48.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The auto parts company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.06). Monro Muffler Brake had a negative return on equity of 0.35% and a net margin of 0.07%. The business had revenue of $283.64 million during the quarter, compared to the consensus estimate of $284.06 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. The company's quarterly revenue was down 1.8% compared to the same quarter last year. As a group, analysts anticipate that Monro Muffler Brake will post -0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Monro Muffler Brake

Hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC grew its position in shares of Monro Muffler Brake by 0.7% during the third quarter. Gabelli Funds LLC now owns 598,185 shares of the auto parts company's stock worth $8,369,000 after acquiring an additional 4,273 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Monro Muffler Brake by 44.4% in the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 49,750 shares of the auto parts company's stock valued at $696,000 after purchasing an additional 15,300 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in Monro Muffler Brake by 4.8% during the 3rd quarter. Gamco Investors INC. ET AL now owns 2,873,699 shares of the auto parts company's stock valued at $40,203,000 after purchasing an additional 132,841 shares during the period. Private Advisor Group LLC acquired a new position in Monro Muffler Brake during the 3rd quarter valued at about $166,000. Finally, Russell Investments Group Ltd. boosted its stake in Monro Muffler Brake by 78.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 600,149 shares of the auto parts company's stock valued at $8,396,000 after purchasing an additional 262,947 shares during the period.

Monro Muffler Brake Company Profile

Monro, Inc., formerly known as Monro Muffler Brake, is an automotive service provider operating retail locations primarily across the eastern United States. The company serves consumers and commercial customers through vehicle maintenance and repair services. Its offerings include tire sales and installation, brake service, exhaust system repairs, wheel alignment, steering and suspension work, and routine maintenance such as oil changes. Monro also provides related diagnostic and repair services for passenger vehicles.

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