Monro Inc (MNRO) Receives $64.50 Consensus Price Target from Brokerages

Share on StockTwits

Monro Inc (NASDAQ:MNRO) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $64.50.

A number of analysts have commented on MNRO shares. Goldman Sachs Group upgraded Monro from a “neutral” rating to a “buy” rating in a research report on Friday, July 13th. BidaskClub downgraded Monro from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 27th. Zacks Investment Research downgraded Monro from a “buy” rating to a “sell” rating in a research report on Friday, May 25th. ValuEngine upgraded Monro from a “sell” rating to a “hold” rating in a research report on Tuesday, May 15th. Finally, Guggenheim set a $67.00 price objective on Monro and gave the stock a “buy” rating in a research report on Friday, July 13th.

In other Monro news, insider Maureen Mulholland sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $55.50, for a total value of $55,500.00. Following the completion of the sale, the insider now owns 1,000 shares in the company, valued at approximately $55,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald Glickman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $68.91, for a total value of $344,550.00. Following the completion of the sale, the director now owns 189,250 shares of the company’s stock, valued at approximately $13,041,217.50. The disclosure for this sale can be found here. Insiders sold a total of 16,000 shares of company stock valued at $1,096,650 in the last quarter. Corporate insiders own 4.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in MNRO. Metropolitan Life Insurance Co. NY raised its holdings in shares of Monro by 8.7% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,297 shares of the auto parts company’s stock worth $598,000 after buying an additional 825 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Monro by 2.0% in the 1st quarter. Wells Fargo & Company MN now owns 50,362 shares of the auto parts company’s stock worth $2,700,000 after buying an additional 984 shares in the last quarter. D.B. Root & Company LLC raised its holdings in shares of Monro by 28.6% in the 1st quarter. D.B. Root & Company LLC now owns 5,625 shares of the auto parts company’s stock worth $302,000 after buying an additional 1,250 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Monro by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 85,352 shares of the auto parts company’s stock worth $4,959,000 after buying an additional 1,262 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. raised its holdings in shares of Monro by 29.1% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 6,033 shares of the auto parts company’s stock worth $323,000 after buying an additional 1,359 shares in the last quarter.

Shares of NASDAQ:MNRO opened at $70.35 on Wednesday. Monro has a twelve month low of $43.97 and a twelve month high of $71.85. The company has a market cap of $2.30 billion, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. The company has a quick ratio of 0.33, a current ratio of 1.09 and a debt-to-equity ratio of 0.61.

Monro (NASDAQ:MNRO) last announced its earnings results on Thursday, July 26th. The auto parts company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.03). Monro had a net margin of 5.85% and a return on equity of 11.81%. The business had revenue of $295.80 million for the quarter, compared to the consensus estimate of $296.80 million. During the same quarter in the previous year, the company earned $0.55 EPS. Monro’s revenue for the quarter was up 6.2% compared to the same quarter last year. equities research analysts forecast that Monro will post 2.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 6th. Shareholders of record on Monday, August 27th will be given a $0.20 dividend. The ex-dividend date is Friday, August 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. Monro’s dividend payout ratio is currently 38.46%.

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.

Further Reading: Trading Strategy Methods and Types

Analyst Recommendations for Monro (NASDAQ:MNRO)

Receive News & Ratings for Monro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monro and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply