President, Vision Research

Robert C Prather Jr

Vision Research LLC (founded in 2011) is an independent equity research firm using fundamental analysis to help investors avoid risk & profit from structurally challenged equities. The research is focused on US & European equities. Primary sectors include consumer, TMT and industrials.  Team background includes 3 CFA Charter holders, 2 Certified Public Accountants, global L/S experience, TMT credit experience, management consulting, software engineer, and long biased international equities.

President

Nokian Renkaat (TYRES FH)- Tire Manufacturer Facing Multiple Headwinds

After Falling 50%+ in a Few Months Is Nokian Renkaat (TYRES FH) A "Buy" Or "Sell"?

Vision Research

Vision Research was formed in 2004 with the vision of generating the best possible fundamental analysis and investment research for smid cap US equities. In 2008, we broadened our coverage to include mid/large cap US stocks.  After researching a  few ideas outside the US each year for a number of years, we launched a dedicated non-US equity product at the end of 2015.  This was followed by the introduction of a product focused on IPOs in mid-2017.

Fundamental Insight

Equity Bottom-Up

<p>COVID may have impacted the tire replacement cycle for longer than expected.  Additionally, after reopening, more people may work from home more frequently than before COVID, potentially putting a cap on a miles driven rebound.  Furthermore, Monro's geographic footprint exposes them to some negative migration trends occurring in parts of the US.  Finally, estimates and valuations leave room for operational disappointment and multiple contraction. </p>

COVID may have impacted the tire replacement cycle for longer than expected.  Additionally, after reopening, more people may work from home more frequently than before COVID, potentially putting a cap on a miles driven rebound.  Furthermore, Monro's geographic footprint exposes them to some negative migration trends occurring in parts of the US.  Finally, estimates and valuations leave room for operational disappointment and multiple contraction. 

Monro Inc(MNRO): Potential Permanent Pressure on Miles Driven and Migration Headwinds May Hurt MNRO

Monro Muffler Brake

Monro Inc(MNRO): Potential Permanent Pressure on Miles Driven and Migration Headwinds May Hurt MNRO