Monro (NASDAQ:MNRO) Given New $24.00 Price Target at Wells Fargo & Company

Monro (NASDAQ:MNROGet Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $26.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 9.04% from the stock’s current price.

Several other brokerages also recently issued reports on MNRO. Wedbush reaffirmed an “outperform” rating and set a $31.00 price target on shares of Monro in a report on Wednesday, December 18th. Stephens initiated coverage on Monro in a research note on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 price target for the company.

Check Out Our Latest Research Report on MNRO

Monro Stock Performance

Shares of MNRO opened at $22.01 on Monday. The company has a market cap of $659.20 million, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11. The firm has a 50-day moving average of $24.88 and a 200-day moving average of $26.29. Monro has a one year low of $21.00 and a one year high of $33.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.21.

Monro (NASDAQ:MNROGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). The business had revenue of $301.39 million during the quarter, compared to analyst estimates of $300.06 million. Monro had a net margin of 2.24% and a return on equity of 4.77%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. As a group, equities analysts forecast that Monro will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC acquired a new stake in shares of Monro in the 4th quarter valued at approximately $3,327,000. Bleakley Financial Group LLC lifted its stake in Monro by 17.9% in the 4th quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company’s stock valued at $246,000 after purchasing an additional 1,506 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Monro in the fourth quarter valued at approximately $28,899,000. Inspire Investing LLC grew its stake in shares of Monro by 14.3% during the fourth quarter. Inspire Investing LLC now owns 16,299 shares of the auto parts company’s stock worth $404,000 after buying an additional 2,042 shares during the last quarter. Finally, D.B. Root & Company LLC increased its holdings in shares of Monro by 8.7% during the fourth quarter. D.B. Root & Company LLC now owns 15,467 shares of the auto parts company’s stock worth $384,000 after buying an additional 1,233 shares in the last quarter.

Monro Company Profile

(Get Free Report)

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services, automotive undercar repair services, and routine maintenance services primarily to passenger cars, light trucks, and vans. The company also provides other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.

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