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 report issued on Monday,Zacks.com reports.

Several other brokerages have also commented on MNRO. Weiss Ratings upgraded Monro Muffler Brake from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Wall Street Zen cut Monro Muffler Brake from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Finally, Wells Fargo & Company dropped their price target on Monro Muffler Brake from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $28.00.

Monro Muffler Brake Price Performance

MNRO opened at $17.11 on Monday. The business’s 50-day moving average is $16.30 and its two-hundred day moving average is $18.25. Monro Muffler Brake has a 1 year low of $12.26 and a 1 year high of $23.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.46 and a quick ratio of 0.16. The firm has a market capitalization of $513.64 million, a PE ratio of 855.50, a price-to-earnings-growth ratio of 3.90 and a beta of 1.03.

Monro Muffler Brake (NASDAQ:MNRO) last released its quarterly earnings results on Wednesday, May 27th. The auto parts company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.12). Monro Muffler Brake had a net margin of 0.19% and a return on equity of 2.33%. The firm had revenue of $273.84 million for the quarter, compared to analysts’ expectations of $283.47 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. Research analysts anticipate that Monro Muffler Brake will post 0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Huntington National Bank raised its stake 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 worth $40,000 after purchasing an additional 760 shares during the last quarter. Sound Income Strategies LLC boosted its position in Monro Muffler Brake by 455.3% in the first quarter. Sound Income Strategies LLC now owns 3,282 shares of the auto parts company’s stock valued at $54,000 after buying an additional 2,691 shares during the last quarter. GAMMA Investing LLC increased its holdings in Monro Muffler Brake by 72.3% in the 4th quarter. GAMMA Investing LLC now owns 12,609 shares of the auto parts company’s stock worth $253,000 after buying an additional 5,291 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 period. Finally, Royal Bank of Canada raised its position in Monro Muffler Brake by 139.8% during the 1st quarter. Royal Bank of Canada now owns 27,904 shares of the auto parts company’s stock worth $404,000 after buying an additional 16,268 shares during the last quarter.

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.