Monro (NASDAQ:MNRO) Now Covered by Stephens

Equities research analysts at Stephens assumed coverage on shares of Monro (NASDAQ:MNRO) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm set an “equal weight” rating and a $31.00 price target on the auto parts company’s stock. Stephens’ price objective would suggest a potential upside of 9.89% from the company’s previous close.

Monro Stock Up 3.4 %

Shares of Monro stock opened at $28.21 on Tuesday. The business has a 50-day moving average of $26.86 and a 200-day moving average of $26.33. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.59 and a quick ratio of 0.25. The company has a market capitalization of $844.07 million, a PE ratio of 23.91, a P/E/G ratio of 1.83 and a beta of 1.11. Monro has a 1-year low of $21.00 and a 1-year high of $33.98.

Monro (NASDAQ:MNRO) last announced its earnings results on Wednesday, July 31st. The auto parts company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.21. The company had revenue of $293.20 million during the quarter, compared to the consensus estimate of $293.70 million. Monro had a return on equity of 5.90% and a net margin of 2.78%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. As a group, equities analysts forecast that Monro will post 1 EPS for the current fiscal year.

Hedge Funds Weigh In On Monro

A number of hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in Monro by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the auto parts company’s stock worth $279,000 after purchasing an additional 458 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Monro by 99.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,048 shares of the auto parts company’s stock worth $25,000 after purchasing an additional 523 shares in the last quarter. Wasatch Advisors LP grew its stake in Monro by 3.0% in the first quarter. Wasatch Advisors LP now owns 20,958 shares of the auto parts company’s stock worth $661,000 after purchasing an additional 615 shares in the last quarter. EntryPoint Capital LLC grew its stake in Monro by 33.9% in the first quarter. EntryPoint Capital LLC now owns 3,169 shares of the auto parts company’s stock worth $100,000 after purchasing an additional 802 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in Monro by 32.5% in the first quarter. Headlands Technologies LLC now owns 3,675 shares of the auto parts company’s stock worth $116,000 after purchasing an additional 902 shares in the last quarter.

About Monro

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.