Monro Muffler Brake (NASDAQ:MNRO) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Monro Muffler Brake (NASDAQ:MNRO) from a hold rating to a sell rating in a research report report published on Saturday.

Several other equities analysts have also recently issued reports on MNRO. Wells Fargo & Company lowered their price target on Monro Muffler Brake from $18.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Monro Muffler Brake in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.67.

Monro Muffler Brake Trading Up 3.0%

Shares of NASDAQ:MNRO opened at $20.79 on Friday. The company has a 50 day moving average of $19.20 and a 200-day moving average of $17.47. The firm has a market cap of $624.12 million, a P/E ratio of -31.03, a P/E/G ratio of 2.52 and a beta of 1.01. Monro Muffler Brake has a twelve month low of $12.19 and a twelve month high of $22.62. The company has a current ratio of 0.48, a quick ratio of 0.16 and a debt-to-equity ratio of 0.44.

Monro Muffler Brake (NASDAQ:MNRO) last posted its quarterly earnings data on Wednesday, October 29th. The auto parts company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Monro Muffler Brake had a negative net margin of 1.60% and a positive return on equity of 2.77%. The business had revenue of $288.91 million for the quarter, compared to analyst estimates of $299.04 million. During the same quarter last year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, analysts anticipate that Monro Muffler Brake will post 0.63 earnings per share for the current fiscal year.

Monro Muffler Brake Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 16th. Stockholders of record on Tuesday, December 2nd were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 5.4%. Monro Muffler Brake’s dividend payout ratio (DPR) is currently -167.16%.

Insider Activity

In related news, major shareholder Carl C. Icahn bought 639,473 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were bought at an average cost of $15.19 per share, with a total value of $9,713,594.87. Following the completion of the transaction, the insider directly owned 4,439,914 shares of the company’s stock, valued at approximately $67,442,293.66. This trade represents a 16.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders acquired 1,278,132 shares of company stock valued at $20,815,969. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Monro Muffler Brake

A number of hedge funds and other institutional investors have recently modified their holdings of MNRO. GAMMA Investing LLC raised its holdings in Monro Muffler Brake by 453.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,601 shares of the auto parts company’s stock worth $39,000 after buying an additional 2,131 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Monro Muffler Brake in the second quarter worth approximately $221,000. TradeLink Capital LLC acquired a new stake in shares of Monro Muffler Brake during the third quarter valued at approximately $226,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $257,000 after acquiring an additional 780 shares in the last quarter. Finally, Inspire Investing LLC boosted its stake in Monro Muffler Brake by 45.5% in the 1st quarter. Inspire Investing LLC now owns 23,709 shares of the auto parts company’s stock worth $343,000 after purchasing an additional 7,410 shares during the period.

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.