Monro (NASDAQ:MNRO) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
Several other equities analysts have also issued reports on the stock. TheStreet lowered shares of Monro from a “b-” rating to a “c” rating in a report on Monday, January 31st. BMO Capital Markets cut their price target on shares of Monro from $70.00 to $65.00 in a report on Thursday, January 27th. Finally, Zacks Investment Research lowered shares of Monro from a “buy” rating to a “hold” rating in a report on Tuesday, February 1st. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.00.
Shares of MNRO stock opened at $47.55 on Friday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.41 and a beta of 1.13. The company’s 50 day moving average is $53.96 and its 200 day moving average is $56.85. The company has a quick ratio of 0.26, a current ratio of 0.80 and a debt-to-equity ratio of 0.71. Monro has a 52-week low of $43.62 and a 52-week high of $72.67.
Monro (NASDAQ:MNRO) last released its quarterly earnings results on Wednesday, January 26th. The auto parts company reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.03). Monro had a return on equity of 9.04% and a net margin of 4.84%. The firm had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $338.90 million. During the same period in the prior year, the firm posted $0.22 earnings per share. Monro’s revenue for the quarter was up 20.1% compared to the same quarter last year. Analysts anticipate that Monro will post 2.13 EPS for the current fiscal year.
In other Monro news, CEO Michael T. Broderick bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 23rd. The stock was bought at an average cost of $60.45 per share, for a total transaction of $151,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.40% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vectors Research Management LLC purchased a new stake in shares of Monro during the fourth quarter worth about $42,000. US Bancorp DE increased its stake in shares of Monro by 21.0% during the third quarter. US Bancorp DE now owns 1,136 shares of the auto parts company’s stock worth $65,000 after purchasing an additional 197 shares in the last quarter. First Mercantile Trust Co. increased its stake in shares of Monro by 22.5% during the third quarter. First Mercantile Trust Co. now owns 1,897 shares of the auto parts company’s stock worth $109,000 after purchasing an additional 349 shares in the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Monro during the third quarter worth about $119,000. Finally, OLD National Bancorp IN increased its stake in shares of Monro by 6.6% during the fourth quarter. OLD National Bancorp IN now owns 3,745 shares of the auto parts company’s stock worth $218,000 after purchasing an additional 233 shares in the last quarter.
About Monro
Monro, Inc engages in the operation of chain stores that provide automotive undercar repair and tire services. The company offers services for brakes, mufflers and exhaust systems, and steering, drive train, suspension and wheel alignment. It operates under the brand names Monro Auto Service and Tire Centers, Tire Choice Auto Service Centers, Mr.