Monro Muffler Brake (NASDAQ:MNRO) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Monro Muffler Brake (NASDAQ:MNRO) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of Monro Muffler Brake from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. Wall Street Zen lowered Monro Muffler Brake from a “sell” rating to a “strong sell” rating in a research report on Saturday. Stephens cut their target price on Monro Muffler Brake from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Finally, Wells Fargo & Company reduced 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 report on Thursday, June 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Monro Muffler Brake currently has an average rating of “Hold” and an average target price of $24.33.

Monro Muffler Brake Stock Up 2.7%

NASDAQ:MNRO opened at $13.10 on Monday. The firm’s 50 day simple moving average is $15.98 and its 200 day simple moving average is $17.48. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.49 and a quick ratio of 0.16. Monro Muffler Brake has a one year low of $12.16 and a one year high of $23.91. The company has a market cap of $409.51 million, a PE ratio of 59.55, a P/E/G ratio of 2.93 and a beta of 1.05.

Monro Muffler Brake (NASDAQ:MNRO) last posted its earnings results on Wednesday, July 29th. The auto parts company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $287.13 million for the quarter, compared to the consensus estimate of $286.30 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The company’s revenue was down 4.6% compared to the same quarter last year. On average, research analysts anticipate that Monro Muffler Brake will post 0.29 earnings per share for the current year.

Monro Muffler Brake Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $1.12 annualized dividend and a dividend yield of 8.5%. Monro Muffler Brake’s dividend payout ratio is presently 509.09%.

Hedge Funds Weigh In On Monro Muffler Brake

Several institutional investors have recently added to or reduced their stakes in MNRO. Huntington National Bank grew its position in shares of Monro Muffler Brake by 61.5% during 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 period. Sound Income Strategies LLC boosted its stake in Monro Muffler Brake by 455.3% during the first quarter. Sound Income Strategies LLC now owns 3,282 shares of the auto parts company’s stock worth $54,000 after acquiring an additional 2,691 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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. Royal Bank of Canada grew its holdings in Monro Muffler Brake by 139.8% in the first quarter. Royal Bank of Canada now owns 27,904 shares of the auto parts company’s stock worth $404,000 after purchasing an additional 16,268 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in Monro Muffler Brake in the third quarter worth $504,000.

About Monro Muffler Brake

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.