Monro (NASDAQ:MNRO) Given “Outperform” Rating at Wedbush

Monro (NASDAQ:MNRO)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a research report issued to clients and investors on Wednesday, Marketbeat reports. They currently have a $31.00 price objective on the auto parts company’s stock. Wedbush’s price objective indicates a potential upside of 22.97% from the company’s previous close.

Separately, Stephens began coverage on shares of Monro in a research report on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 price objective on the stock.

Monro Trading Up 1.3 %

Monro stock opened at $25.21 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.21 and a current ratio of 0.53. The stock has a 50-day simple moving average of $27.69 and a 200 day simple moving average of $26.34. The stock has a market capitalization of $755.01 million, a P/E ratio of 28.98, a PEG ratio of 2.20 and a beta of 1.11. Monro has a 52 week low of $21.00 and a 52 week high of $33.98.

Monro (NASDAQ:MNRO) last issued its earnings results on Wednesday, October 30th. The auto parts company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.08). Monro had a return on equity of 4.77% and a net margin of 2.24%. The business had revenue of $301.39 million for the quarter, compared to the consensus estimate of $300.06 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business’s revenue was down 6.4% compared to the same quarter last year. Analysts expect that Monro will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MNRO. Millennium Management LLC grew its stake in shares of Monro by 3,587.8% in the second quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock valued at $27,181,000 after acquiring an additional 1,108,292 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Monro by 20.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,606,868 shares of the auto parts company’s stock valued at $46,374,000 after purchasing an additional 273,265 shares during the period. First Eagle Investment Management LLC grew its position in shares of Monro by 78.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 254,900 shares of the auto parts company’s stock worth $6,082,000 after purchasing an additional 112,400 shares in the last quarter. Maverick Capital Ltd. increased its holdings in shares of Monro by 720.3% during the second quarter. Maverick Capital Ltd. now owns 121,354 shares of the auto parts company’s stock worth $2,896,000 after purchasing an additional 106,560 shares during the period. Finally, Landscape Capital Management L.L.C. raised its position in shares of Monro by 434.7% in the third quarter. Landscape Capital Management L.L.C. now owns 104,550 shares of the auto parts company’s stock valued at $3,017,000 after buying an additional 84,996 shares in the last quarter.

Monro Company Profile

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.