Monro Muffler Brake, Inc. (MNRO) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Monro Muffler Brake, Inc. (NASDAQ:MNRO) from a sell rating to a hold rating in a research report released on Thursday morning.

According to Zacks, “Monro Muffler/Brake, Inc. is a chain of company-operated and dealer-operated stores providing automotive undercar repair services in the United States. Monro’s stores provide a full range of services for exhaust systems, brake systems, steering and suspension systems and many other vehicle maintenance services. The company’s stores typically are situated in high-visibility locations in suburban areas and small towns, as well as in major metropolitan areas. “

Several other equities research analysts have also issued reports on the company. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and set a $51.00 target price (down from $54.00) on shares of Monro Muffler Brake in a research report on Saturday, July 22nd. BidaskClub lowered Monro Muffler Brake from a sell rating to a strong sell rating in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reaffirmed a buy rating on shares of Monro Muffler Brake in a research report on Tuesday, June 20th. Stephens lowered Monro Muffler Brake from an overweight rating to an equal weight rating in a research report on Thursday, June 29th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $60.00 target price on shares of Monro Muffler Brake in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Monro Muffler Brake currently has an average rating of Hold and a consensus price target of $63.33.

Monro Muffler Brake (NASDAQ MNRO) opened at 52.35 on Thursday. The firm’s 50-day moving average is $47.49 and its 200-day moving average is $48.90. Monro Muffler Brake has a 52-week low of $39.65 and a 52-week high of $62.07. The company has a market capitalization of $1.71 billion, a PE ratio of 27.88 and a beta of 0.71.

Monro Muffler Brake (NASDAQ:MNRO) last announced its earnings results on Thursday, July 20th. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.01. Monro Muffler Brake had a return on equity of 10.90% and a net margin of 5.84%. The firm had revenue of $278.50 million during the quarter, compared to analyst estimates of $270.85 million. During the same period last year, the firm posted $0.50 EPS. The business’s revenue was up 18.4% compared to the same quarter last year. On average, equities research analysts forecast that Monro Muffler Brake will post $2.13 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Monday, August 28th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $0.72 annualized dividend and a yield of 1.38%. This is a positive change from Monro Muffler Brake’s previous quarterly dividend of $0.11. Monro Muffler Brake’s dividend payout ratio (DPR) is 38.30%.

In related news, CEO Heel John W. Van sold 46,883 shares of Monro Muffler Brake stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $46.55, for a total value of $2,182,403.65. Following the completion of the sale, the chief executive officer now owns 202,463 shares of the company’s stock, valued at approximately $9,424,652.65. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen C. Mccluski acquired 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was purchased at an average cost of $46.45 per share, with a total value of $55,740.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 6,893 shares of company stock valued at $328,155 and sold 244,064 shares valued at $11,438,709. Company insiders own 6.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MNRO. Nisa Investment Advisors LLC increased its holdings in Monro Muffler Brake by 1.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 4,470 shares of the auto parts company’s stock worth $233,000 after acquiring an additional 70 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in Monro Muffler Brake by 7.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 46,024 shares of the auto parts company’s stock worth $2,395,000 after acquiring an additional 3,217 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Monro Muffler Brake by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 594,199 shares of the auto parts company’s stock worth $30,959,000 after acquiring an additional 20,663 shares during the last quarter. Suntrust Banks Inc. increased its holdings in Monro Muffler Brake by 14.0% in the 1st quarter. Suntrust Banks Inc. now owns 8,303 shares of the auto parts company’s stock worth $431,000 after acquiring an additional 1,020 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Monro Muffler Brake by 13.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,632 shares of the auto parts company’s stock worth $346,000 after acquiring an additional 769 shares during the last quarter.

Monro Muffler Brake Company Profile

Monro, Inc, formerly Monro Muffler Brake, Inc, is engaged in the provision of automotive undercar repair and tire services in the United States. The Company provides a range of services on passenger cars, light trucks and vans for brakes; mufflers and exhaust systems, and steering, drive train, suspension and wheel alignment.

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Analyst Recommendations for Monro Muffler Brake (NASDAQ:MNRO)

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