Brokers Offer Predictions for Monro Inc’s FY2019 Earnings (MNRO)

Monro Inc (NASDAQ:MNRO) – Equities research analysts at Northcoast Research raised their FY2019 earnings per share estimates for Monro in a note issued to investors on Sunday, October 28th. Northcoast Research analyst J. Healy now expects that the auto parts company will post earnings per share of $2.37 for the year, up from their previous estimate of $2.35. Northcoast Research has a “Neutral” rating on the stock.

MNRO has been the subject of several other reports. Zacks Investment Research lowered Monro from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. BidaskClub upgraded Monro from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 22nd. Goldman Sachs Group upgraded Monro from a “neutral” rating to a “buy” rating in a research report on Friday, July 13th. Finally, Guggenheim set a $67.00 target price on Monro and gave the stock a “buy” rating in a research report on Friday, July 13th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $68.67.

Monro stock opened at $75.07 on Tuesday. The stock has a market cap of $2.49 billion, a PE ratio of 36.02, a P/E/G ratio of 5.36 and a beta of 0.83. Monro has a 1 year low of $45.45 and a 1 year high of $78.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.11 and a quick ratio of 0.33.

Several large investors have recently added to or reduced their stakes in MNRO. BlackRock Inc. lifted its holdings in shares of Monro by 8.9% during the 2nd quarter. BlackRock Inc. now owns 4,431,997 shares of the auto parts company’s stock valued at $257,500,000 after purchasing an additional 360,767 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Monro during the 2nd quarter valued at about $16,210,000. Fenimore Asset Management Inc. bought a new position in shares of Monro during the 2nd quarter valued at about $16,194,000. BTIM Corp. bought a new position in shares of Monro during the 2nd quarter valued at about $15,687,000. Finally, Jennison Associates LLC bought a new stake in Monro in the 2nd quarter valued at approximately $15,122,000.

In other news, Director Donald Glickman sold 5,000 shares of Monro stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $68.91, for a total transaction of $344,550.00. Following the transaction, the director now owns 189,250 shares in the company, valued at approximately $13,041,217.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter J. Solomon sold 10,000 shares of Monro stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $70.48, for a total value of $704,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 65,000 shares of company stock worth $4,574,800 in the last quarter. 4.60% of the stock is currently owned by company insiders.

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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Earnings History and Estimates for Monro (NASDAQ:MNRO)

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