Monro Muffler Brake (MNRO) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Monro Muffler Brake (NASDAQ:MNRO) from a buy rating to a hold rating in a report issued on Thursday.

According to Zacks, “Monro Muffler Brake, Inc. is a chain of 1,118 Company-operated stores, 114 franchised locations, five wholesale locations, two retread facilities and 14 dealer-operated stores providing automotive undercar repair and tire sales and services. Monro Muffler Brake operates a chain of stores providing automotive undercar repair and tire services in the United States, operating under the brand names of Monro Muffler Brake and Service, Speedy Auto Service by Monro, Kimmel Tires – Auto Service and Tread Quarters Discount Tires. Monro began to diversify into a full line of undercar repair services. The Company has experienced significant growth in recent years through acquisitions and, to a lesser extent, the opening of new construction stores. “

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Several other brokerages have also weighed in on MNRO. ValuEngine upgraded shares of Monro Muffler Brake from a sell rating to a hold rating in a report on Wednesday. BidaskClub lowered shares of Monro Muffler Brake from a buy rating to a hold rating in a report on Friday, February 9th. Oppenheimer reiterated a buy rating on shares of Monro Muffler Brake in a report on Tuesday, January 30th. SunTrust Banks initiated coverage on shares of Monro Muffler Brake in a report on Thursday, March 22nd. They set a hold rating and a $55.00 price objective on the stock. Finally, TheStreet lowered shares of Monro Muffler Brake from a b- rating to a c+ rating in a report on Tuesday, February 27th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $60.71.

Shares of Monro Muffler Brake stock traded down $2.10 during mid-day trading on Thursday, hitting $55.00. 110,093 shares of the stock were exchanged, compared to its average volume of 287,860. Monro Muffler Brake has a twelve month low of $39.65 and a twelve month high of $64.15. The stock has a market capitalization of $1,831.60, a P/E ratio of 29.55, a P/E/G ratio of 1.59 and a beta of 0.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.06 and a quick ratio of 0.33.

Monro Muffler Brake (NASDAQ:MNRO) last released its quarterly earnings results on Tuesday, January 30th. The auto parts company reported $0.50 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Monro Muffler Brake had a net margin of 5.13% and a return on equity of 10.48%. The company had revenue of $285.70 million for the quarter, compared to analysts’ expectations of $292.94 million. During the same period last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. analysts forecast that Monro Muffler Brake will post 2.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 26th. Investors of record on Friday, March 16th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $0.72 annualized dividend and a yield of 1.31%. Monro Muffler Brake’s payout ratio is 38.92%.

In related news, Director Stephen C. Mccluski sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $55.51, for a total value of $555,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Maureen Mulholland sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $51.00, for a total transaction of $153,000.00. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors Inc. raised its stake in shares of Monro Muffler Brake by 13.6% during the fourth quarter. Wasatch Advisors Inc. now owns 3,290,061 shares of the auto parts company’s stock valued at $187,369,000 after purchasing an additional 394,585 shares during the period. CWM LLC purchased a new stake in shares of Monro Muffler Brake during the fourth quarter valued at approximately $12,802,000. Neuberger Berman Group LLC raised its stake in shares of Monro Muffler Brake by 15.2% during the third quarter. Neuberger Berman Group LLC now owns 1,375,231 shares of the auto parts company’s stock valued at $77,082,000 after purchasing an additional 181,405 shares during the period. ArrowMark Colorado Holdings LLC raised its stake in shares of Monro Muffler Brake by 9.1% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,070,591 shares of the auto parts company’s stock valued at $117,920,000 after purchasing an additional 172,064 shares during the period. Finally, Grandeur Peak Global Advisors LLC raised its stake in shares of Monro Muffler Brake by 254.6% during the fourth quarter. Grandeur Peak Global Advisors LLC now owns 173,775 shares of the auto parts company’s stock valued at $9,896,000 after purchasing an additional 124,775 shares during the period.

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Monro Muffler Brake Company Profile

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. The company offers range of services on passenger cars, light trucks, and vans for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment. It also provides other products and services, including tires and routine maintenance services, including state inspections.

Analyst Recommendations for Monro Muffler Brake (NASDAQ:MNRO)

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