Northcoast Research Equities Analysts Cut Earnings Estimates for Monro Muffler Brake Inc (MNRO)

Monro Muffler Brake Inc (NASDAQ:MNRO) – Equities research analysts at Northcoast Research cut their FY2017 earnings per share estimates for Monro Muffler Brake in a research report issued to clients and investors on Friday. Northcoast Research analyst N. Mitchell now expects that the auto parts company will post earnings of $1.85 per share for the year, down from their prior forecast of $1.95. Northcoast Research also issued estimates for Monro Muffler Brake’s Q4 2017 earnings at $0.29 EPS, Q4 2018 earnings at $0.52 EPS and FY2018 earnings at $2.30 EPS.

MNRO has been the subject of a number of other research reports. Zacks Investment Research raised Monro Muffler Brake from a “sell” rating to a “hold” rating in a research report on Tuesday, January 17th. Jefferies Group LLC reiterated a “buy” rating and set a $67.00 price objective on shares of Monro Muffler Brake in a research note on Tuesday, March 28th. Gabelli upgraded Monro Muffler Brake from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Tuesday, January 31st. CIBC reiterated a “buy” rating on shares of Monro Muffler Brake in a research note on Monday, April 17th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $80.00 price objective on shares of Monro Muffler Brake in a research note on Sunday, January 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $68.00.

Earnings History and Estimates for Monro Muffler Brake (NASDAQ:MNRO)

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Monro Muffler Brake (NASDAQ:MNRO) traded up 0.19% during mid-day trading on Monday, hitting $53.00. 59,396 shares of the stock were exchanged. The firm has a 50-day moving average price of $52.26 and a 200-day moving average price of $55.93. Monro Muffler Brake has a 12-month low of $48.85 and a 12-month high of $72.00. The stock has a market capitalization of $1.73 billion, a P/E ratio of 26.86 and a beta of 0.85.

Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Monro Muffler Brake during the third quarter valued at about $442,000. Ameriprise Financial Inc. raised its stake in Monro Muffler Brake by 3.4% in the third quarter. Ameriprise Financial Inc. now owns 189,601 shares of the auto parts company’s stock valued at $11,598,000 after buying an additional 6,215 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in Monro Muffler Brake by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,160 shares of the auto parts company’s stock valued at $438,000 after buying an additional 120 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Monro Muffler Brake by 4.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 811,349 shares of the auto parts company’s stock valued at $49,630,000 after buying an additional 34,329 shares during the period. Finally, BlackRock Group LTD raised its stake in Monro Muffler Brake by 2.5% in the third quarter. BlackRock Group LTD now owns 46,275 shares of the auto parts company’s stock valued at $2,831,000 after buying an additional 1,136 shares during the period.

In other news, insider Raymond L. Pickens sold 750 shares of the stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $57.21, for a total transaction of $42,907.50. Following the sale, the insider now directly owns 687 shares of the company’s stock, valued at approximately $39,303.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joseph Tomarchio, Jr. sold 11,250 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $57.60, for a total value of $648,000.00. Following the sale, the insider now directly owns 26,250 shares in the company, valued at $1,512,000. The disclosure for this sale can be found here. Corporate insiders own 7.70% of the company’s stock.

About Monro Muffler Brake

Monro Muffler Brake, Inc is engaged in the provision of automotive undercar repair and tire services in the United States. The Company provides a range of services on passenger cars, light trucks and vans for brakes; mufflers and exhaust systems, and steering, drive train, suspension and wheel alignment.

5 Day Chart for NASDAQ:MNRO

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