Oppenheimer Lowers Monro (NASDAQ:MNRO) to Market Perform

Oppenheimer downgraded shares of Monro (NASDAQ:MNRO) from an outperform rating to a market perform rating in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage currently has $86.00 price target on the auto parts company’s stock. Oppenheimer also issued estimates for Monro’s Q1 2020 earnings at $0.66 EPS, Q2 2020 earnings at $0.74 EPS, Q3 2020 earnings at $0.64 EPS, Q4 2020 earnings at $0.64 EPS, FY2020 earnings at $2.68 EPS and FY2021 earnings at $3.18 EPS.

MNRO has been the topic of a number of other research reports. BidaskClub cut shares of Waterstone Financial from a hold rating to a sell rating in a report on Friday, June 21st. Guggenheim increased their price objective on shares of Twitter from $33.00 to $41.00 and gave the stock a buy rating in a report on Thursday, April 4th. CL King reaffirmed a hold rating on shares of Monro in a report on Wednesday, May 22nd. Zacks Investment Research cut shares of Hammerson from a hold rating to a sell rating in a report on Friday, May 24th. Finally, SunTrust Banks reaffirmed a buy rating and issued a $20.00 price objective on shares of ANGI Homeservices in a report on Wednesday, May 22nd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Monro has a consensus rating of Hold and an average target price of $85.97.

Shares of NASDAQ:MNRO opened at $83.35 on Thursday. The firm has a market capitalization of $2.77 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 2.40 and a beta of 0.78. Monro has a 1-year low of $60.78 and a 1-year high of $89.72. The business’s fifty day simple moving average is $85.13. The company has a quick ratio of 0.32, a current ratio of 1.10 and a debt-to-equity ratio of 0.54.

Monro (NASDAQ:MNRO) last released its quarterly earnings data on Tuesday, May 21st. The auto parts company reported $0.51 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.51. Monro had a net margin of 6.64% and a return on equity of 12.10%. The business had revenue of $287.20 million for the quarter, compared to analysts’ expectations of $292.07 million. During the same quarter last year, the company earned $0.52 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts predict that Monro will post 2.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Friday, May 31st. This is a positive change from Monro’s previous quarterly dividend of $0.20. Monro’s dividend payout ratio is currently 36.97%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP grew its position in Monro by 2,626.8% in the 1st quarter. Marshall Wace LLP now owns 89,085 shares of the auto parts company’s stock valued at $7,708,000 after buying an additional 85,818 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Monro by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 23,579 shares of the auto parts company’s stock valued at $1,621,000 after buying an additional 518 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in Monro by 371.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,496 shares of the auto parts company’s stock valued at $722,000 after buying an additional 8,268 shares in the last quarter. Tyers Asset Management LLC grew its position in Monro by 3.2% in the 1st quarter. Tyers Asset Management LLC now owns 59,972 shares of the auto parts company’s stock valued at $5,189,000 after buying an additional 1,870 shares in the last quarter. Finally, Summit Creek Advisors LLC grew its position in Monro by 18.1% in the 1st quarter. Summit Creek Advisors LLC now owns 204,951 shares of the auto parts company’s stock valued at $17,732,000 after buying an additional 31,460 shares in the last quarter.

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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Analyst Recommendations for Monro (NASDAQ:MNRO)

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