Monro (MNRO) Lifted to Buy at BidaskClub

Monro (NASDAQ:MNRO) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, April 1st, BidAskClub reports.

Separately, Zacks Investment Research cut Monro from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $81.95.

Shares of MNRO traded up $1.40 during midday trading on Monday, hitting $81.57. The company had a trading volume of 212,782 shares, compared to its average volume of 335,092. The stock has a market capitalization of $2.70 billion, a PE ratio of 39.22, a PEG ratio of 2.43 and a beta of 0.78. Monro has a 1 year low of $51.45 and a 1 year high of $89.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.30 and a current ratio of 1.05.

Monro (NASDAQ:MNRO) last posted its earnings results on Thursday, January 31st. The auto parts company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The firm had revenue of $310.11 million during the quarter, compared to analysts’ expectations of $309.89 million. Monro had a return on equity of 12.47% and a net margin of 6.71%. Analysts predict that Monro will post 2.42 EPS for the current year.

In other Monro news, Director Donald Glickman sold 10,000 shares of Monro stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $78.16, for a total transaction of $781,600.00. Following the transaction, the director now owns 181,078 shares of the company’s stock, valued at $14,153,056.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Maureen Mulholland sold 1,000 shares of Monro stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $79.60, for a total value of $79,600.00. Following the transaction, the insider now directly owns 200 shares in the company, valued at approximately $15,920. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,000 shares of company stock worth $1,637,300. 4.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP grew its stake in shares of Monro by 102.0% in the third quarter. First Trust Advisors LP now owns 18,507 shares of the auto parts company’s stock worth $1,288,000 after acquiring an additional 9,344 shares during the period. Wells Fargo & Company MN grew its stake in shares of Monro by 12.1% in the third quarter. Wells Fargo & Company MN now owns 66,676 shares of the auto parts company’s stock worth $4,640,000 after acquiring an additional 7,196 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Monro by 152.8% in the third quarter. JPMorgan Chase & Co. now owns 42,223 shares of the auto parts company’s stock worth $2,938,000 after acquiring an additional 25,524 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Monro by 12.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,851 shares of the auto parts company’s stock worth $546,000 after acquiring an additional 900 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Monro by 2.3% in the third quarter. Bank of New York Mellon Corp now owns 473,142 shares of the auto parts company’s stock worth $32,931,000 after acquiring an additional 10,652 shares during the period.

Monro Company Profile

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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