Nuveen Asset Management LLC bought a new position in shares of Monro Inc (NASDAQ:MNRO) in the 2nd quarter, Holdings Channel.com reports. The fund bought 137,310 shares of the auto parts company’s stock, valued at approximately $11,713,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisory Services Network LLC grew its stake in Monro by 60.2% during the 2nd quarter. Advisory Services Network LLC now owns 322 shares of the auto parts company’s stock worth $27,000 after purchasing an additional 121 shares in the last quarter. Bessemer Group Inc. acquired a new position in Monro during the 2nd quarter worth $32,000. NumerixS Investment Technologies Inc acquired a new position in Monro during the 2nd quarter worth $68,000. Contravisory Investment Management Inc. acquired a new position in Monro during the 2nd quarter worth $160,000. Finally, US Bancorp DE grew its stake in Monro by 8.8% during the 2nd quarter. US Bancorp DE now owns 2,202 shares of the auto parts company’s stock worth $188,000 after purchasing an additional 178 shares in the last quarter.
A number of analysts have issued reports on the company. Oppenheimer downgraded Monro from an “outperform” rating to a “market perform” rating and set a $86.00 price target for the company. in a report on Thursday, July 11th. Zacks Investment Research raised Monro from a “sell” rating to a “buy” rating and set a $88.00 price target for the company in a report on Thursday, September 26th. BidaskClub raised Monro from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. CIBC reaffirmed a “market perform” rating on shares of Monro in a research note on Thursday, July 11th. Finally, ValuEngine downgraded Monro from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Monro currently has an average rating of “Hold” and a consensus price target of $86.38.
Monro (NASDAQ:MNRO) last released its earnings results on Thursday, July 25th. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.02. Monro had a return on equity of 12.01% and a net margin of 6.69%. The company had revenue of $317.10 million for the quarter, compared to analysts’ expectations of $320.60 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts forecast that Monro Inc will post 2.65 earnings per share for the current fiscal year.
In other Monro news, Director Donald Glickman sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $86.14, for a total transaction of $215,350.00. Following the transaction, the director now owns 173,578 shares in the company, valued at approximately $14,952,008.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maureen Mulholland sold 500 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $84.40, for a total value of $42,200.00. Following the transaction, the insider now owns 574 shares in the company, valued at approximately $48,445.60. The disclosure for this sale can be found here. Insiders have sold a total of 13,500 shares of company stock worth $1,152,285 in the last quarter. 4.40% of the stock is currently owned by insiders.
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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