Zacks Research Upgrades Monro Muffler Brake (NASDAQ:MNRO) to "Hold"

Key Points

• Zacks Research upgraded Monro Muffler Brake to “Hold” from “Strong Sell,” while the broader analyst consensus remains “Hold” with a $24.33 price target.
• Monro’s shares opened at $13.67, near the lower end of their 52-week range of $11.06 to $23.91. The stock has a $427.38 million market capitalization and a high P/E ratio of 62.14.
• The company reported a quarterly loss of $0.09 per share, missing estimates of $0.04, while revenue declined 4.6% year over year to $287.13 million.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Monro Muffler Brake from $20.00 to $16.00 and set an "equal weight" rating on the stock in a report on Thursday, June 11th. Weiss Ratings cut shares of Monro Muffler Brake from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, September 29th. Wall Street Zen downgraded shares of Monro Muffler Brake from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Finally, Stephens cut 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. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $24.33.

Monro Muffler Brake Stock Up 0.2%

Monro Muffler Brake stock opened at $13.67 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.16 and a current ratio of 0.49. The business's 50-day simple moving average is $12.81 and its two-hundred day simple moving average is $15.14. The company has a market cap of $427.38 million, a PE ratio of 62.14, a PEG ratio of 11.37 and a beta of 1.08. Monro Muffler Brake has a fifty-two week low of $11.06 and a fifty-two week high of $23.91.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The auto parts company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.13). Monro Muffler Brake had a net margin of 0.71% and a return on equity of 0.80%. The firm had revenue of $287.13 million during the quarter, compared to analyst estimates of $286.30 million. During the same period in the prior year, the company posted $0.22 earnings per share. The firm's revenue for the quarter was down 4.6% on a year-over-year basis. Equities analysts anticipate that Monro Muffler Brake will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Cygnus Capital Advisors LLC boosted its position in Monro Muffler Brake by 826.1% in the 2nd quarter. Cygnus Capital Advisors LLC now owns 304,495 shares of the auto parts company's stock worth $5,209,000 after purchasing an additional 271,615 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Monro Muffler Brake by 19.1% during the 1st quarter. SG Americas Securities LLC now owns 147,901 shares of the auto parts company's stock valued at $2,372,000 after purchasing an additional 23,679 shares in the last quarter. Penn Capital Management Company LLC lifted its stake in shares of Monro Muffler Brake by 31.9% in the 2nd quarter. Penn Capital Management Company LLC now owns 62,577 shares of the auto parts company's stock valued at $1,071,000 after purchasing an additional 15,146 shares during the period. Baird Financial Group Inc. purchased a new stake in Monro Muffler Brake during the second quarter worth $207,000. Finally, Sound Income Strategies LLC boosted its holdings in Monro Muffler Brake by 455.3% during the first quarter. Sound Income Strategies LLC now owns 3,282 shares of the auto parts company's stock worth $54,000 after buying an additional 2,691 shares in the last quarter.

About Monro Muffler Brake

Monro, Inc, formerly known as Monro Muffler Brake, is an automotive service and tire retailer serving customers across the United States. The company operates service centers that provide routine vehicle maintenance, repair services and tire-related products for passenger cars and light trucks.

Its services generally include tire sales and installation, wheel alignment, brake repair, exhaust-system service, oil changes, suspension and steering work, battery replacement, state inspections and other preventive maintenance.

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