Monro Muffler Brake (NASDAQ:MNRO) Downgraded to “Strong Sell” Rating by Zacks Research

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

MNRO has been the topic of a number of other research reports. Weiss Ratings lowered Monro Muffler Brake from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 28th. Wells Fargo & Company lowered their target price on Monro Muffler Brake from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 11th. Stephens dropped 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, Wall Street Zen cut Monro Muffler Brake from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.33.

Monro Muffler Brake Stock Performance

Shares of MNRO opened at $12.41 on Tuesday. The company’s 50 day simple moving average is $14.61 and its 200-day simple moving average is $16.25. The firm has a market cap of $387.99 million, a PE ratio of 56.41, a price-to-earnings-growth ratio of 10.36 and a beta of 1.05. Monro Muffler Brake has a 12-month low of $11.06 and a 12-month high of $23.91. The company has a current ratio of 0.49, a quick ratio of 0.16 and a debt-to-equity ratio of 0.50.

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

Monro Muffler Brake Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 25th will be paid a $0.28 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 9.0%. Monro Muffler Brake’s payout ratio is 509.09%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MNRO. SG Americas Securities LLC boosted its position in shares of Monro Muffler Brake by 19.1% during the 1st quarter. SG Americas Securities LLC now owns 147,901 shares of the auto parts company’s stock worth $2,372,000 after purchasing an additional 23,679 shares in the last quarter. Penn Capital Management Company LLC increased its holdings in shares of Monro Muffler Brake by 31.9% in the 2nd quarter. Penn Capital Management Company LLC now owns 62,577 shares of the auto parts company’s stock valued at $1,071,000 after purchasing an additional 15,146 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Monro Muffler Brake by 280.2% in the 2nd quarter. California State Teachers Retirement System now owns 5,886 shares of the auto parts company’s stock valued at $101,000 after purchasing an additional 4,338 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Monro Muffler Brake by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 688,075 shares of the auto parts company’s stock valued at $9,956,000 after purchasing an additional 68,862 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Monro Muffler Brake by 5.6% in the first quarter. Empowered Funds LLC now owns 141,635 shares of the auto parts company’s stock valued at $2,049,000 after purchasing an additional 7,464 shares during the period.

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.