CIBC Reaffirms “Market Perform” Rating for Monro (NASDAQ:MNRO)

CIBC reissued their market perform rating on shares of Monro (NASDAQ:MNRO) in a research report report published on Thursday, FirstToMarketsRatingsTable reports.

A number of other analysts have also recently issued reports on MNRO. CL King reissued a hold rating on shares of Monro in a research note on Wednesday, May 22nd. Zacks Investment Research cut shares of Hammerson from a hold rating to a sell rating in a research note on Friday, May 24th. Guggenheim increased their price objective on shares of Twitter from $33.00 to $41.00 and gave the stock a buy rating in a research note on Thursday, April 4th. BidaskClub cut shares of Waterstone Financial from a hold rating to a sell rating in a research note on Friday, June 21st. Finally, Oppenheimer set a $13.00 price objective on shares of ArQule and gave the stock a buy rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $85.97.

Shares of MNRO stock opened at $83.35 on Thursday. Monro has a 12 month low of $60.78 and a 12 month high of $89.72. The stock has a market capitalization of $2.77 billion, a PE ratio of 35.02, a P/E/G ratio of 2.40 and a beta of 0.78. The company has a current ratio of 1.10, a quick ratio of 0.32 and a debt-to-equity ratio of 0.54. The firm’s 50 day simple moving average is $85.13.

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

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank increased its stake in shares of Monro by 55.5% in the first quarter. Huntington National Bank now owns 1,564 shares of the auto parts company’s stock worth $135,000 after purchasing an additional 558 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Monro during the second quarter valued at $160,000. PNC Financial Services Group Inc. lifted its position in Monro by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,875 shares of the auto parts company’s stock valued at $128,000 after purchasing an additional 273 shares during the last quarter. Virtu Financial LLC bought a new position in Monro during the first quarter valued at $218,000. Finally, Zions Bancorporation N.A. bought a new position in Monro during the first quarter valued at $248,000.

About Monro

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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