In a report released today, Brian Nagel from Oppenheimer maintained a Buy rating on Monro Muffler (MNRO), with a price target of $86. The company’s shares opened today at $70.02.
Nagel commented:
“Early this morning, Outperform-rated Monro (MNRO) reported Q3 (Dec.) results and updated guidance for fiscal 2018 (Mar.). Shares are trading lower by 2-3% following the announcement. We have studied closely results and commentary from MNRO and come away with the view that Q3 represents another clear indication of improving trends at the company and a strengthening backdrop for the sector. Sales softened somewhat in Dec. and in early Jan. as weather turned less cooperative. In our view, this downshift is transitory and not reflective of underlying and building improvements at MNRO. We continue to recommend MNRO as our preferred way for smaller cap investors to play auto parts and services retail.”
According to TipRanks.com, Nagel is a 4-star analyst with an average return of 5.5% and a 58.6% success rate. Nagel covers the Services sector, focusing on stocks such as Weight Watchers International, Capri Holdings Limited, and Dick’s Sporting Goods.
Currently, the analyst consensus on Monro Muffler is a Moderate Buy with an average price target of $86.
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Monro Muffler’s market cap is currently $2.36B and has a P/E ratio of 33.72. The company has a Price to Book ratio of 3.56.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is neutral on the stock.
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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.
