Monro (MNRO) Lowered to Buy at BidaskClub

BidaskClub lowered shares of Monro (NASDAQ:MNRO) from a strong-buy rating to a buy rating in a research report released on Thursday morning.

Several other equities analysts have also weighed in on MNRO. Zacks Investment Research upgraded shares of Monro from a sell rating to a hold rating and set a $83.00 price objective for the company in a research report on Tuesday, October 30th. Guggenheim set a $74.00 target price on shares of Monro and gave the stock a buy rating in a report on Friday, July 27th. ValuEngine upgraded shares of Monro from a hold rating to a buy rating in a report on Saturday, July 14th. Goldman Sachs Group upgraded shares of Monro from a neutral rating to a buy rating in a report on Friday, July 13th. Finally, Northcoast Research reiterated a neutral rating on shares of Monro in a report on Thursday, September 13th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $70.67.

Shares of NASDAQ:MNRO traded down $1.08 during trading hours on Thursday, hitting $74.49. 219,200 shares of the company’s stock traded hands, compared to its average volume of 297,153. Monro has a 52 week low of $45.45 and a 52 week high of $78.63. The company has a current ratio of 1.11, a quick ratio of 0.33 and a debt-to-equity ratio of 0.57. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 35.81, a price-to-earnings-growth ratio of 4.52 and a beta of 0.67.

In other Monro news, insider Samuel Senuk sold 1,750 shares of the firm’s stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $75.95, for a total value of $132,912.50. Following the completion of the transaction, the insider now directly owns 167 shares in the company, valued at $12,683.65. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter J. Solomon sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $70.04, for a total transaction of $350,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,000 shares of company stock valued at $4,435,415. Corporate insiders own 4.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Monro by 4.1% in the third quarter. BlackRock Inc. now owns 4,612,401 shares of the auto parts company’s stock worth $321,024,000 after purchasing an additional 180,404 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of Monro by 4.5% in the third quarter. Wasatch Advisors Inc. now owns 3,557,837 shares of the auto parts company’s stock worth $247,625,000 after purchasing an additional 154,406 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Monro by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,142,972 shares of the auto parts company’s stock worth $66,409,000 after purchasing an additional 49,746 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Monro by 4.7% in the third quarter. Victory Capital Management Inc. now owns 524,441 shares of the auto parts company’s stock worth $36,501,000 after purchasing an additional 23,748 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Monro by 2.3% in 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 purchasing an additional 10,652 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.

Further Reading: Institutional Investors

Analyst Recommendations for Monro (NASDAQ:MNRO)

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