Monro (MNRO) Rating Lowered to Buy at BidaskClub

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Monro (NASDAQ:MNRO) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

A number of other brokerages have also recently commented on MNRO. Goldman Sachs Group upgraded Monro from a “neutral” rating to a “buy” rating in a report on Friday, July 13th. Zacks Investment Research upgraded Monro from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Northcoast Research restated a “neutral” rating on shares of Monro in a report on Thursday, September 13th. Guggenheim set a $67.00 target price on Monro and gave the company a “buy” rating in a report on Friday, July 13th. Finally, ValuEngine upgraded Monro from a “hold” rating to a “buy” rating in a report on Saturday, July 14th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Monro currently has a consensus rating of “Buy” and a consensus price target of $70.67.

Monro stock traded down $1.08 during midday trading on Thursday, reaching $74.49. 219,235 shares of the stock traded hands, compared to its average volume of 332,956. Monro has a 12-month low of $45.45 and a 12-month high of $78.63. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 35.81, a price-to-earnings-growth ratio of 2.55 and a beta of 0.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.11 and a quick ratio of 0.33.

In other Monro news, insider Samuel Senuk sold 1,750 shares of the stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $75.95, for a total value of $132,912.50. Following the sale, the insider now owns 167 shares of the company’s stock, valued at approximately $12,683.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Raymond L. Pickens sold 10,250 shares of the stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $75.01, for a total value of $768,852.50. Following the completion of the sale, the vice president now directly owns 1,304 shares in the company, valued at approximately $97,813.04. The disclosure for this sale can be found here. Insiders sold a total of 62,000 shares of company stock worth $4,435,415 in the last ninety days. 4.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MNRO. Rafferty Asset Management LLC acquired a new position in Monro during the third quarter worth approximately $290,000. BlackRock Inc. increased its position in Monro by 4.1% during the third quarter. BlackRock Inc. now owns 4,612,401 shares of the auto parts company’s stock worth $321,024,000 after buying an additional 180,404 shares during the period. Bank of New York Mellon Corp increased its position in Monro by 2.3% during 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 buying an additional 10,652 shares during the period. Eagle Boston Investment Management Inc. increased its position in Monro by 2.1% during the third quarter. Eagle Boston Investment Management Inc. now owns 240,819 shares of the auto parts company’s stock worth $16,761,000 after buying an additional 4,968 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Monro by 12.9% during 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 buying an additional 900 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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Analyst Recommendations for Monro (NASDAQ:MNRO)

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