Monro Muffler Brake (NASDAQ:MNRO) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Monro Muffler Brake to “Hold” from “Strong Sell,” while other analysts issued mixed views. The stock’s overall consensus rating remains “Hold,” with an average price target of $24.33.
• Monro reported a quarterly loss of $0.09 per share, missing the $0.04 consensus estimate, while revenue of $287.13 million slightly exceeded expectations. Revenue declined 4.6% year over year.
• Shares opened at $13.10, near the company’s one-year low of $12.16 and below its 50-day and 200-day moving averages, reflecting continued pressure on the stock.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) 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.

Other research analysts also recently issued reports about the company. Wall Street Zen downgraded Monro Muffler Brake from a "sell" rating to a "strong sell" rating in a research note on Saturday. Stephens cut their price objective on Monro Muffler Brake from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Weiss Ratings raised shares of Monro Muffler Brake from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company decreased their target price on shares of 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $24.33.

Monro Muffler Brake Trading Up 2.7%

Monro Muffler Brake stock opened at $13.10 on Monday. The firm has a 50-day moving average of $15.98 and a 200-day moving average of $17.48. Monro Muffler Brake has a one year low of $12.16 and a one year high of $23.91. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.49 and a quick ratio of 0.16. The company has a market cap of $409.51 million, a price-to-earnings ratio of 59.55, a P/E/G ratio of 2.93 and a beta of 1.05.

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 the consensus estimate 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 company had revenue of $287.13 million during the quarter, compared to the consensus estimate of $286.30 million. During the same quarter in the previous year, the business earned $0.22 EPS. Monro Muffler Brake's revenue was down 4.6% on a year-over-year basis. On average, equities analysts expect that Monro Muffler Brake will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Monro Muffler Brake

Several institutional investors and hedge funds have recently bought and sold shares of MNRO. Royal Bank of Canada boosted its stake in shares of Monro Muffler Brake by 139.8% during the 1st quarter. Royal Bank of Canada now owns 27,904 shares of the auto parts company's stock worth $404,000 after acquiring an additional 16,268 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 acquiring an additional 780 shares during the period. Jones Financial Companies Lllp bought a new stake in Monro Muffler Brake in the 1st quarter valued at $559,000. Goldman Sachs Group Inc. raised its stake 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 acquiring an additional 68,862 shares during the period. Finally, Empowered Funds LLC lifted its holdings in Monro Muffler Brake by 5.6% during the 1st quarter. Empowered Funds LLC now owns 141,635 shares of the auto parts company's stock valued at $2,049,000 after purchasing an additional 7,464 shares during the last quarter.

Monro Muffler Brake Company Profile

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.

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