Oppenheimer analyst Brian Nagel reiterated a Buy rating on Monro Muffler (MNRO) today and set a price target of $86. The company’s shares closed yesterday at $75.43, close to its 52-week high of $78.63.
Nagel commented:
“We reiterate our Outperform rating on Monro (MNRO) and lift our price target to $86 (from $70). In Oct. 2017, new CEO Brett Ponton took the reins of MNRO and introduced a significant strategic repositioning plan, whereby a renewed focus on store-level execution and customer connections would help to better leverage an already superior supply chain and acquisition acumen. Shares are now at an all- time high. We reviewed closely the MNRO business and our stance on shares. We recommend clients stick with MNRO. Key internal initiatives are only now starting to take hold, while demand dynamics within the space are improving. Indications of better, more consistent trends at MNRO should help to at least support the premium valuation at which shares now trade.”
According to TipRanks.com, Nagel is a 5-star analyst with an average return of 6.2% and a 60.2% success rate. Nagel covers the Services sector, focusing on stocks such as Weight Watchers International, Dick’s Sporting Goods, and Advance Auto Parts.
Currently, the analyst consensus on Monro Muffler is a Moderate Buy with an average price target of $86.
See today’s analyst top recommended stocks >>
Monro Muffler’s market cap is currently $2.48B and has a P/E ratio of 35.35. The company has a Price to Book ratio of 3.85.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Raymond Pickens, the Divisional VP of MNRO sold 10,250 shares for a total of $768,750.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Monro, Inc. engages in the operation of chain stores that provides automotive undercar repair and tire services. The company offers services for brake systems, steering and suspension systems, tires, exhaust systems and many vehicle maintenance services and certain locations specialize in providing commercial tire and maintenance services.
