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

Zacks Research upgraded shares of Monro Muffler Brake (NASDAQ:MNRO) from a strong sell rating to a hold rating in a research note published on Monday morning,Zacks reports.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings downgraded Monro Muffler Brake from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, September 29th. Stephens lowered their price target on Monro Muffler Brake from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Wells Fargo & Company lowered their price target on Monro Muffler Brake from $20.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, June 11th. Finally, Wall Street Zen downgraded Monro Muffler Brake from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.33.

Monro Muffler Brake Price Performance

Shares of NASDAQ:MNRO opened at $13.64 on Monday. The firm has a 50 day moving average of $12.81 and a 200-day moving average of $15.12. The stock has a market capitalization of $426.39 million, a PE ratio of 62.00, a PEG ratio of 11.39 and a beta of 1.08. 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 has a 12 month low of $11.06 and a 12 month high of $23.91.

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 (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.13). The firm had revenue of $287.13 million for the quarter, compared to analyst estimates of $286.30 million. Monro Muffler Brake had a return on equity of 0.80% and a net margin of 0.71%.The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 EPS. On average, equities research analysts predict that Monro Muffler Brake will post 0.08 EPS for the current fiscal year.

Monro Muffler Brake Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 25th were issued a dividend of $0.28 per share. The ex-dividend date was Tuesday, August 25th. This represents a $1.12 annualized dividend and a dividend yield of 8.2%. Monro Muffler Brake’s dividend payout ratio is 509.09%.

Institutional Investors Weigh In On Monro Muffler Brake

Several hedge funds have recently modified their holdings of MNRO. Cygnus Capital Advisors LLC increased its holdings in Monro Muffler Brake by 826.1% in the 2nd quarter. Cygnus Capital Advisors LLC now owns 304,495 shares of the auto parts company’s stock worth $5,209,000 after purchasing an additional 271,615 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Monro Muffler Brake by 19.1% during the first quarter. SG Americas Securities LLC now owns 147,901 shares of the auto parts company’s stock valued at $2,372,000 after purchasing an additional 23,679 shares in the last quarter. Penn Capital Management Company LLC boosted its stake in shares of Monro Muffler Brake by 31.9% during the second 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. Baird Financial Group Inc. bought a new stake in shares of Monro Muffler Brake during the second quarter worth about $207,000. Finally, Sound Income Strategies LLC grew its holdings in shares of 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 purchasing an additional 2,691 shares during the last quarter.

Monro Muffler Brake Company Profile

Monro, Inc, formerly known as Monro Muffler Brake, is an automotive service and tire retailer serving customers across the United States. The company operates service centers that provide routine vehicle maintenance, repair services and tire-related products for passenger cars and light trucks.

Its services generally include tire sales and installation, wheel alignment, brake repair, exhaust-system service, oil changes, suspension and steering work, battery replacement, state inspections and other preventive maintenance.