Monro Muffler Brake (NASDAQ:MNRO) Upgraded by Oppenheimer to Outperform Rating

Monro Muffler Brake (NASDAQ:MNRO) was upgraded by analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a report issued on Wednesday. The brokerage currently has a $40.00 price target on the auto parts company’s stock. Oppenheimer’s price target suggests a potential upside of 87.62% from the company’s previous close.

Other analysts also recently issued reports about the stock. Wall Street Zen raised shares of Monro Muffler Brake from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Weiss Ratings restated a “sell (d)” rating on shares of Monro Muffler Brake in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company dropped their price target on shares of Monro Muffler Brake from $18.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.25.

Monro Muffler Brake Trading Up 1.3%

Shares of MNRO opened at $21.32 on Wednesday. Monro Muffler Brake has a 1-year low of $12.19 and a 1-year high of $21.77. The firm has a market capitalization of $640.03 million, a price-to-earnings ratio of -45.36, a PEG ratio of 2.55 and a beta of 1.03. The firm’s 50-day moving average price is $20.33 and its 200-day moving average price is $18.23. The company has a current ratio of 0.45, a quick ratio of 0.15 and a debt-to-equity ratio of 0.41.

Monro Muffler Brake (NASDAQ:MNRO) last released its earnings results on Wednesday, January 28th. The auto parts company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The company had revenue of $293.39 million during the quarter, compared to analysts’ expectations of $295.19 million. Monro Muffler Brake had a positive return on equity of 2.69% and a negative net margin of 1.06%.The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. Sell-side analysts anticipate that Monro Muffler Brake will post 0.63 EPS for the current year.

Insider Buying and Selling at Monro Muffler Brake

In other news, CEO Peter D. Fitzsimmons purchased 12,750 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was bought at an average cost of $19.68 per share, with a total value of $250,920.00. Following the completion of the purchase, the chief executive officer owned 112,033 shares in the company, valued at approximately $2,204,809.44. This represents a 12.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Monro Muffler Brake

Hedge funds have recently modified their holdings of the company. Huntington National Bank grew its holdings in shares of Monro Muffler Brake by 61.5% in the fourth quarter. Huntington National Bank now owns 1,996 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 760 shares in the last quarter. GAMMA Investing LLC lifted its position in Monro Muffler Brake by 181.4% during the third quarter. GAMMA Investing LLC now owns 7,318 shares of the auto parts company’s stock valued at $132,000 after purchasing an additional 4,717 shares during the last quarter. TradeLink Capital LLC bought a new position in Monro Muffler Brake during the third quarter valued at $226,000. Los Angeles Capital Management LLC purchased a new position in shares of Monro Muffler Brake in the 2nd quarter worth $221,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 worth $257,000 after buying an additional 780 shares during 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.