Zacks Investment Research Downgrades Monro (NASDAQ:MNRO) to Sell

Zacks Investment Research lowered shares of Monro (NASDAQ:MNRO) from a hold rating to a sell rating in a research report sent to investors on Wednesday, Zacks.com reports.

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. “

MNRO has been the subject of a number of other research reports. ValuEngine upgraded Monro from a hold rating to a buy rating in a research report on Thursday, July 2nd. Oppenheimer reiterated a hold rating on shares of Monro in a research report on Wednesday, June 17th. SunTrust Banks cut their price objective on Monro from $68.00 to $47.00 and set a hold rating for the company in a research report on Friday, April 3rd. BMO Capital Markets cut their price objective on Monro from $71.00 to $41.00 and set a market perform rating for the company in a research report on Monday, April 6th. Finally, BidaskClub upgraded Monro from a sell rating to a hold rating in a research report on Saturday, July 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Monro presently has a consensus rating of Hold and an average target price of $69.20.

MNRO opened at $56.30 on Wednesday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 3.63 and a beta of 1.14. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.35 and a quick ratio of 1.60. Monro has a 1-year low of $37.09 and a 1-year high of $87.60. The business has a 50 day moving average price of $57.24 and a two-hundred day moving average price of $56.30.

Monro (NASDAQ:MNRO) last released its earnings results on Wednesday, July 29th. The auto parts company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.37. The firm had revenue of $247.06 million during the quarter, compared to the consensus estimate of $246.86 million. Monro had a return on equity of 6.57% and a net margin of 3.24%. The firm’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 earnings per share. Equities analysts expect that Monro will post 1.06 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNRO. Wellington Management Group LLP increased its stake in shares of Monro by 41.5% in the first quarter. Wellington Management Group LLP now owns 1,221,995 shares of the auto parts company’s stock worth $53,535,000 after acquiring an additional 358,420 shares during the last quarter. Norges Bank acquired a new position in shares of Monro in the fourth quarter worth $27,349,000. Wasatch Advisors Inc. increased its stake in shares of Monro by 6.7% in the first quarter. Wasatch Advisors Inc. now owns 4,307,327 shares of the auto parts company’s stock worth $188,704,000 after acquiring an additional 270,007 shares during the last quarter. FDx Advisors Inc. increased its stake in shares of Monro by 4,081.7% in the first quarter. FDx Advisors Inc. now owns 243,667 shares of the auto parts company’s stock worth $5,445,000 after acquiring an additional 237,840 shares during the last quarter. Finally, Balyasny Asset Management LLC acquired a new position in shares of Monro in the first quarter worth $5,157,000.

About Monro

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.

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