Monro Muffler Brake (NASDAQ:MNRO) Lowered 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 note published on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on MNRO. Wells Fargo & Company decreased their target price on shares of Monro Muffler Brake from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 11th. Wall Street Zen downgraded shares of Monro Muffler Brake from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th. Finally, Weiss Ratings raised shares of Monro Muffler Brake from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $28.00.

Monro Muffler Brake Price Performance

NASDAQ:MNRO opened at $17.11 on Monday. Monro Muffler Brake has a 52 week low of $12.26 and a 52 week high of $23.91. The company has a quick ratio of 0.16, a current ratio of 0.46 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $513.64 million, a P/E ratio of 855.50, a P/E/G ratio of 3.90 and a beta of 1.03. The stock’s fifty day moving average is $16.30 and its two-hundred day moving average is $18.25.

Monro Muffler Brake (NASDAQ:MNRO) last released its quarterly earnings results on Wednesday, May 27th. The auto parts company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.12). The business had revenue of $273.84 million for the quarter, compared to analysts’ expectations of $283.47 million. Monro Muffler Brake had a return on equity of 2.33% and a net margin of 0.19%.The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Equities analysts expect that Monro Muffler Brake will post 0.29 EPS for the current year.

Monro Muffler Brake Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date was Tuesday, June 2nd. Monro Muffler Brake’s dividend payout ratio (DPR) is 5,600.00%.

Institutional Trading of Monro Muffler Brake

Hedge funds have recently made changes to their positions in the business. Huntington National Bank boosted its stake in shares of Monro Muffler Brake by 61.5% in the fourth quarter. Huntington National Bank now owns 1,996 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 760 shares during the period. Sound Income Strategies LLC increased its stake in Monro Muffler Brake by 455.3% during the 1st quarter. Sound Income Strategies LLC now owns 3,282 shares of the auto parts company’s stock worth $54,000 after buying an additional 2,691 shares during the period. GAMMA Investing LLC increased its stake in Monro Muffler Brake by 72.3% during the 4th quarter. GAMMA Investing LLC now owns 12,609 shares of the auto parts company’s stock worth $253,000 after buying an additional 5,291 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Monro Muffler Brake by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,775 shares of the auto parts company’s stock worth $257,000 after buying an additional 780 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Monro Muffler Brake by 139.8% in the 1st quarter. Royal Bank of Canada now owns 27,904 shares of the auto parts company’s stock valued at $404,000 after buying an additional 16,268 shares during the period.

About Monro Muffler Brake

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.