Gilford Securities Reiterates Hold Rating on Monro Muffler & Brake Inc. (MNRO)

Gilford Securities is out with a research report this morning, where it reiterates its Hold rating on Monro Muffler & Brake Inc. MNRO; it did not provide a price target for the stock. The GS analysts cited the company's earnings release, which showed a revenue increase of 8.4% compared to growth of 28.7% in the year ago period. Same-store sales increased 5.4% versus 7.2%, while GPM increased by 80bp to 39.1% and OIM increased by 200bp to 11.3%. The analysts noted that F4Q11 started off slow with a January comp decline of 3.8%. As for valuation, the analysts remarked, “Our FY11E and FY12E revenue is tweaked higher. We forecast improving margins. EPS increases to $1.44 from $1.37in FY11 and $1.70 from $1.65 for FY12.”