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 research note issued to investors on Tuesday, Zacks reports.

MNRO has been the subject of several other research reports. Stephens reduced their target price on shares of Monro Muffler Brake from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Wall Street Zen cut shares of Monro Muffler Brake from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded shares of Monro Muffler Brake from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 28th. Finally, Wells Fargo & Company reduced their price objective on shares of Monro Muffler Brake from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.33.

Monro Muffler Brake Stock Performance

Shares of MNRO opened at $12.41 on Tuesday. Monro Muffler Brake has a 1 year low of $11.06 and a 1 year high of $23.91. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.49 and a quick ratio of 0.16. The stock’s fifty day moving average price is $14.61 and its two-hundred day moving average price is $16.25. The firm has a market cap of $387.99 million, a PE ratio of 56.41, a PEG ratio of 10.36 and a beta of 1.05.

Monro Muffler Brake (NASDAQ:MNRO) last posted its quarterly earnings results on Wednesday, July 29th. The auto parts company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.13). Monro Muffler Brake had a return on equity of 0.80% and a net margin of 0.71%.The firm had revenue of $287.13 million for the quarter, compared to the consensus estimate of $286.30 million. During the same quarter in the previous year, the company posted $0.22 EPS. The firm’s revenue was down 4.6% compared to the same quarter last year. On average, equities research analysts forecast that Monro Muffler Brake will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Monro Muffler Brake

A number of institutional investors and hedge funds have recently modified their holdings of MNRO. Huntington National Bank increased its holdings in shares of Monro Muffler Brake by 61.5% in the 4th quarter. Huntington National Bank now owns 1,996 shares of the auto parts company’s stock worth $40,000 after buying an additional 760 shares during the last quarter. Sound Income Strategies LLC lifted its position in Monro Muffler Brake by 455.3% in the 1st quarter. Sound Income Strategies LLC now owns 3,282 shares of the auto parts company’s stock worth $54,000 after buying an additional 2,691 shares during the last quarter. California State Teachers Retirement System grew its position in Monro Muffler Brake by 280.2% during the second quarter. California State Teachers Retirement System now owns 5,886 shares of the auto parts company’s stock valued at $101,000 after acquiring an additional 4,338 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Monro Muffler Brake by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,775 shares of the auto parts company’s stock worth $257,000 after acquiring an additional 780 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Monro Muffler Brake by 139.8% during the first quarter. Royal Bank of Canada now owns 27,904 shares of the auto parts company’s stock worth $404,000 after acquiring an additional 16,268 shares in 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.