Monro (NASDAQ:MNRO) Downgraded by StockNews.com to Hold

Posted by on Apr 11th, 2023

Monro (NASDAQ:MNRO – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Monro Trading Up 1.0 %

NASDAQ MNRO opened at $47.10 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.63 and a quick ratio of 0.30. The stock’s 50-day moving average is $50.42 and its 200-day moving average is $47.72. Monro has a one year low of $37.49 and a one year high of $55.70. The firm has a market cap of $1.48 billion, a P/E ratio of 32.94, a P/E/G ratio of 1.71 and a beta of 1.02.

Monro (NASDAQ:MNRO – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The auto parts company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. The company had revenue of $335.20 million during the quarter, compared to the consensus estimate of $330.87 million. Monro had a net margin of 3.52% and a return on equity of 6.52%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS. Sell-side analysts anticipate that Monro will post 1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Monro

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming bought a new stake in shares of Monro during the fourth quarter worth $30,000. Simplex Trading LLC increased its stake in Monro by 126.0% in the 3rd quarter. Simplex Trading LLC now owns 1,037 shares of the auto parts company’s stock worth $45,000 after acquiring an additional 5,028 shares during the last quarter. FMR LLC grew its position in Monro by 22.9% during the second quarter. FMR LLC now owns 1,164 shares of the auto parts company’s stock valued at $49,000 after acquiring an additional 217 shares during the last quarter. Eagle Bay Advisors LLC grew its position in Monro by 123.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,508 shares of the auto parts company’s stock worth $65,000 after acquiring an additional 834 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Monro in the first quarter worth about $70,000.

Monro Company Profile

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Monro, Inc engages in the operation of chain stores that provide automotive undercar repair and tire services. The company offers services for brakes, mufflers and exhaust systems, and steering, drive train, suspension and wheel alignment. It operates under the brand names Monro Auto Service and Tire Centers, Tire Choice Auto Service Centers, Mr.

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