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

Monro Muffler Brake (NASDAQ:MNRO) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday, Zacks reports.

MNRO has been the subject of several other research reports. Wall Street Zen cut Monro Muffler Brake from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. 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. 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. Finally, Wells Fargo & Company reduced their price objective on shares of Monro Muffler Brake from $15.00 to $12.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.00.

Monro Muffler Brake Price Performance

MNRO opened at $10.35 on Wednesday. Monro Muffler Brake has a 12 month low of $10.32 and a 12 month high of $23.91. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.16 and a current ratio of 0.48. The stock’s 50 day moving average price is $13.03 and its 200 day moving average price is $15.68.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cygnus Capital Advisors LLC raised its holdings in Monro Muffler Brake by 826.1% during the second 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. Russell Investments Group Ltd. lifted its position in Monro Muffler Brake by 78.0% in the third quarter. Russell Investments Group Ltd. now owns 600,149 shares of the auto parts company’s stock worth $8,396,000 after purchasing an additional 262,947 shares during the period. Gamco Investors INC. ET AL lifted its position in Monro Muffler Brake by 4.8% in the third quarter. Gamco Investors INC. ET AL now owns 2,873,699 shares of the auto parts company’s stock worth $40,203,000 after purchasing an additional 132,841 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in Monro Muffler Brake by 44.4% during 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 in the last quarter. Finally, Penn Capital Management Company LLC boosted its stake in Monro Muffler Brake by 31.9% during 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 in the last quarter.

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.