Monro (MNRO) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Monro (NASDAQ:MNRO) from a sell rating to a hold rating in a research note released on Tuesday morning. Zacks Investment Research currently has $83.00 price objective on the auto parts company’s stock.

According to Zacks, “Monro Muffler Brake, Inc. is a chain of 1,118 Company-operated stores, 114 franchised locations, five wholesale locations, two retread facilities and 14 dealer-operated stores providing automotive undercar repair and tire sales and services. Monro Muffler Brake operates a chain of stores providing automotive undercar repair and tire services in the United States, operating under the brand names of Monro Muffler Brake and Service, Speedy Auto Service by Monro, Kimmel Tires – Auto Service and Tread Quarters Discount Tires. Monro began to diversify into a full line of undercar repair services. The Company has experienced significant growth in recent years through acquisitions and, to a lesser extent, the opening of new construction stores. “

A number of other brokerages have also issued reports on MNRO. Northcoast Research reissued a neutral rating on shares of Monro in a report on Thursday, September 13th. BidaskClub raised shares of Monro from a buy rating to a strong-buy rating in a report on Wednesday, August 22nd. ValuEngine raised shares of Monro from a hold rating to a buy rating in a report on Saturday, July 14th. Goldman Sachs Group raised shares of Monro from a neutral rating to a buy rating in a research note on Friday, July 13th. Finally, Guggenheim set a $74.00 target price on shares of Monro and gave the company a buy rating in a research note on Friday, July 27th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $70.67.

Monro stock traded up $0.16 during trading hours on Tuesday, reaching $74.38. The stock had a trading volume of 9,776 shares, compared to its average volume of 320,610. The firm has a market cap of $2.47 billion, a PE ratio of 35.52, a price-to-earnings-growth ratio of 4.53 and a beta of 0.83. Monro has a 52 week low of $45.45 and a 52 week high of $78.63. The company has a quick ratio of 0.33, a current ratio of 1.11 and a debt-to-equity ratio of 0.57.

In related news, Director Donald Glickman sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $69.66, for a total transaction of $696,600.00. Following the sale, the director now owns 189,250 shares of the company’s stock, valued at $13,183,155. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter J. Solomon sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $71.17, for a total transaction of $1,423,400.00. Following the sale, the director now directly owns 4,723 shares in the company, valued at approximately $336,135.91. The disclosure for this sale can be found here. Insiders have sold a total of 72,000 shares of company stock worth $5,132,015 in the last ninety days. Insiders own 4.60% of the company’s stock.

A number of large investors have recently bought and sold shares of MNRO. Wells Fargo & Company MN boosted its stake in Monro by 2.0% during the first quarter. Wells Fargo & Company MN now owns 50,362 shares of the auto parts company’s stock worth $2,700,000 after acquiring an additional 984 shares in the last quarter. LPL Financial LLC boosted its stake in Monro by 20.7% during the first quarter. LPL Financial LLC now owns 11,124 shares of the auto parts company’s stock worth $592,000 after acquiring an additional 1,907 shares in the last quarter. Legal & General Group Plc boosted its stake in Monro by 2.1% during the first quarter. Legal & General Group Plc now owns 68,330 shares of the auto parts company’s stock worth $3,632,000 after acquiring an additional 1,422 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in Monro by 72.3% during the first quarter. Xact Kapitalforvaltning AB now owns 6,437 shares of the auto parts company’s stock worth $345,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Monro by 3.1% during the first quarter. Principal Financial Group Inc. now owns 256,613 shares of the auto parts company’s stock worth $13,754,000 after acquiring an additional 7,634 shares in the last quarter.

About Monro

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. The company offers range of services on passenger cars, light trucks, and vans for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment. It also provides other products and services, including tires and routine maintenance services, including state inspections.

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