Monro Inc (MNRO) Receives Consensus Recommendation of “Buy” from Brokerages

Monro Inc (NASDAQ:MNRO) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $81.95.

A number of analysts recently weighed in on the stock. Guggenheim cut shares of Monro from a “buy” rating to a “neutral” rating and set a $82.89 target price for the company. in a report on Thursday. They noted that the move was a valuation call. BidaskClub lowered shares of Monro from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Finally, Zacks Investment Research raised shares of Monro from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Tuesday, February 5th.

NASDAQ:MNRO traded down $0.48 during trading hours on Thursday, reaching $82.41. 470,622 shares of the company’s stock were exchanged, compared to its average volume of 347,871. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 39.62, a PEG ratio of 2.58 and a beta of 0.78. Monro has a 12 month low of $51.45 and a 12 month 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 issued its earnings results on Thursday, January 31st. The auto parts company reported $0.61 earnings per share for the quarter, topping the Zacks’ 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 net margin of 6.71% and a return on equity of 12.47%. On average, sell-side analysts expect that Monro will post 2.42 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Thursday, March 14th. Monro’s dividend payout ratio is 38.46%.

In related news, Director Donald Glickman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $78.16, for a total value of $781,600.00. Following the completion of the transaction, the director now owns 181,078 shares of the company’s stock, valued at approximately $14,153,056.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Maureen Mulholland sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $79.60, for a total transaction of $79,600.00. Following the completion of the transaction, the insider now directly owns 200 shares of the company’s stock, valued at approximately $15,920. The disclosure for this sale can be found here. Insiders sold a total of 21,000 shares of company stock valued at $1,637,300 in the last ninety days. Company insiders own 4.60% of the company’s stock.

Large investors have recently modified their holdings of the business. MetLife Investment Advisors LLC boosted its stake in shares of Monro by 43.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 21,575 shares of the auto parts company’s stock valued at $1,502,000 after buying an additional 6,505 shares during the period. Eaton Vance Management acquired a new stake in shares of Monro during the 3rd quarter valued at $8,109,000. State of Alaska Department of Revenue boosted its stake in shares of Monro by 1.9% during the 4th quarter. State of Alaska Department of Revenue now owns 11,031 shares of the auto parts company’s stock valued at $758,000 after buying an additional 210 shares during the period. Arizona State Retirement System boosted its stake in shares of Monro by 6.5% during the 4th quarter. Arizona State Retirement System now owns 50,800 shares of the auto parts company’s stock valued at $3,493,000 after buying an additional 3,094 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Monro by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,402,940 shares of the auto parts company’s stock valued at $236,845,000 after buying an additional 85,805 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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