Jefferies Group LLC restated their buy rating on shares of Monro Muffler Brake, Inc. (NASDAQ:MNRO) in a research note issued to investors on Tuesday, September 12th. Jefferies Group LLC currently has a $60.00 price target on the auto parts company’s stock.
Several other brokerages also recently commented on MNRO. Oppenheimer Holdings, Inc. set a $70.00 price objective on Monro Muffler Brake and gave the company a buy rating in a research report on Thursday, May 18th. TheStreet downgraded Monro Muffler Brake from a b- rating to a c+ rating in a research report on Tuesday, May 23rd. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and issued a $51.00 price objective (down previously from $54.00) on shares of Monro Muffler Brake in a research report on Saturday, July 22nd. BidaskClub downgraded Monro Muffler Brake from a sell rating to a strong sell rating in a research report on Friday, June 16th. Finally, UBS AG downgraded Monro Muffler Brake from a positive rating to a neutral rating in a research report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $63.33.
Monro Muffler Brake (MNRO) opened at 50.20 on Tuesday. Monro Muffler Brake has a 52-week low of $39.65 and a 52-week high of $62.07. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 26.73 and a beta of 0.71. The company’s 50-day moving average is $47.49 and its 200-day moving average is $48.90.
Monro Muffler Brake (NASDAQ:MNRO) last released its earnings results on Thursday, July 20th. The auto parts company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.01. The firm had revenue of $278.50 million for the quarter, compared to the consensus estimate of $270.85 million. Monro Muffler Brake had a return on equity of 10.90% and a net margin of 5.84%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. On average, analysts expect that Monro Muffler Brake will post $2.13 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Monday, August 28th were paid a dividend of $0.18 per share. This is a boost from Monro Muffler Brake’s previous quarterly dividend of $0.11. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Thursday, August 24th. Monro Muffler Brake’s dividend payout ratio is 38.30%.
In other Monro Muffler Brake news, Director Stephen C. Mccluski purchased 1,200 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was bought at an average cost of $46.45 per share, for a total transaction of $55,740.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Heel John W. Van sold 129,089 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $46.76, for a total value of $6,036,201.64. Following the completion of the sale, the chief executive officer now owns 202,463 shares of the company’s stock, valued at $9,467,169.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 6,893 shares of company stock valued at $328,155 and have sold 244,064 shares valued at $11,438,709. Corporate insiders own 6.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MNRO. Forward Management LLC increased its holdings in shares of Monro Muffler Brake by 9.5% in the second quarter. Forward Management LLC now owns 2,662 shares of the auto parts company’s stock valued at $111,000 after purchasing an additional 231 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Monro Muffler Brake by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,012 shares of the auto parts company’s stock valued at $126,000 after purchasing an additional 452 shares during the period. Ameritas Investment Partners Inc. acquired a new position in shares of Monro Muffler Brake in the first quarter valued at about $141,000. Capital Analysts LLC increased its holdings in shares of Monro Muffler Brake by 18.5% in the second quarter. Capital Analysts LLC now owns 4,255 shares of the auto parts company’s stock valued at $178,000 after purchasing an additional 665 shares during the period. Finally, Stephens Inc. AR increased its holdings in shares of Monro Muffler Brake by 0.9% in the second quarter. Stephens Inc. AR now owns 4,899 shares of the auto parts company’s stock valued at $205,000 after purchasing an additional 45 shares during the period.
About Monro Muffler Brake
Monro, Inc, formerly 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.
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