Monro (NASDAQ:MNRO) Upgraded to Buy at StockNews.com

Monro (NASDAQ:MNROGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Monro from a “hold” rating to a “sell” rating in a research note on Wednesday, March 30th. BMO Capital Markets reduced their price objective on Monro from $70.00 to $65.00 in a report on Thursday, January 27th. Finally, TheStreet cut Monro from a “b-” rating to a “c” rating in a report on Monday, January 31st.

Shares of Monro stock traded down $1.78 during trading hours on Tuesday, hitting $44.73. The company’s stock had a trading volume of 478,841 shares, compared to its average volume of 341,474. The firm has a fifty day moving average of $45.39 and a 200-day moving average of $52.85. Monro has a twelve month low of $42.84 and a twelve month high of $72.67. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.26 and a current ratio of 0.80. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 1.40 and a beta of 1.13.

Monro (NASDAQ:MNROGet Rating) last posted its quarterly earnings results on Wednesday, January 26th. The auto parts company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The company had revenue of $341.80 million during the quarter, compared to analyst estimates of $338.90 million. Monro had a net margin of 4.84% and a return on equity of 9.04%. Monro’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 EPS. On average, sell-side analysts expect that Monro will post 2.13 earnings per share for the current fiscal year.

In other Monro news, CEO Michael T. Broderick purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, January 28th. The shares were acquired at an average price of $48.85 per share, for a total transaction of $122,125.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of MNRO. Assenagon Asset Management S.A. acquired a new stake in Monro in the first quarter worth approximately $2,542,000. Inspire Investing LLC purchased a new stake in shares of Monro in the first quarter valued at $237,000. Virginia Retirement Systems ET AL raised its holdings in shares of Monro by 32.3% during the first quarter. Virginia Retirement Systems ET AL now owns 20,900 shares of the auto parts company’s stock worth $927,000 after acquiring an additional 5,100 shares in the last quarter. Cardinal Capital Management raised its stake in shares of Monro by 24.8% during the 1st quarter. Cardinal Capital Management now owns 16,247 shares of the auto parts company’s stock worth $720,000 after purchasing an additional 3,224 shares in the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of Monro by 1.6% during the 1st quarter. Boston Trust Walden Corp now owns 292,491 shares of the auto parts company’s stock worth $12,970,000 after purchasing an additional 4,577 shares in the last quarter.

Monro Company Profile (Get Rating)

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services; routine maintenance services on passenger cars, light trucks, and vans; products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.

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