Monro Inc (MNRO) Expected to Post Quarterly Sales of $298.37 Million

Brokerages expect Monro Inc (NASDAQ:MNRO) to report $298.37 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Monro’s earnings. The highest sales estimate is $302.50 million and the lowest is $295.60 million. Monro posted sales of $278.02 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.3%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that Monro will report full-year sales of $1.19 billion for the current year, with estimates ranging from $1.18 billion to $1.20 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.27 billion, with estimates ranging from $1.24 billion to $1.30 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Monro.

Monro (NASDAQ:MNRO) last issued its quarterly earnings data on Thursday, July 26th. The auto parts company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.03). Monro had a return on equity of 11.81% and a net margin of 5.85%. The company had revenue of $295.80 million for the quarter, compared to the consensus estimate of $296.80 million. During the same period in the prior year, the company earned $0.55 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year.

MNRO has been the topic of several recent research reports. Guggenheim set a $67.00 target price on shares of Monro and gave the company a “buy” rating in a research note on Friday, July 13th. Goldman Sachs Group raised shares of Monro from a “neutral” rating to a “buy” rating in a research note on Friday, July 13th. ValuEngine upgraded shares of Monro from a “hold” rating to a “buy” rating in a research report on Saturday, July 14th. Zacks Investment Research upgraded shares of Monro from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Tuesday, July 24th. Finally, BidaskClub downgraded shares of Monro from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Monro presently has an average rating of “Hold” and an average target price of $69.00.

In other news, Director Donald Glickman sold 10,000 shares of Monro stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $69.66, for a total value of $696,600.00. Following the sale, the director now directly owns 189,250 shares in the company, valued at $13,183,155. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter J. Solomon sold 5,000 shares of Monro stock in a transaction that occurred on Friday, August 17th. The shares were 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. Insiders have sold a total of 65,000 shares of company stock worth $4,574,800 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CenterStar Asset Management LLC bought a new position in Monro during the second quarter worth $101,000. Kessler Investment Group LLC bought a new position in Monro during the second quarter worth $132,000. PEAK6 Investments L.P. boosted its position in Monro by 979.0% during the second quarter. PEAK6 Investments L.P. now owns 3,516 shares of the auto parts company’s stock worth $204,000 after purchasing an additional 3,916 shares during the period. Xact Kapitalforvaltning AB boosted its position in Monro by 72.3% during the first quarter. Xact Kapitalforvaltning AB now owns 6,437 shares of the auto parts company’s stock worth $345,000 after purchasing an additional 2,700 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Monro during the second quarter worth $404,000.

Shares of NASDAQ MNRO traded up $0.66 during mid-day trading on Wednesday, hitting $65.95. The company’s stock had a trading volume of 267,207 shares, compared to its average volume of 273,123. The firm has a market capitalization of $2.15 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 4.64 and a beta of 0.83. The company has a current ratio of 1.09, a quick ratio of 0.33 and a debt-to-equity ratio of 0.61. Monro has a one year low of $45.45 and a one year high of $73.45.

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.

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