Monro (NASDAQ:MNRO) Price Target Cut to $26.00 by Analysts at Wells Fargo & Company

Monro (NASDAQ:MNRO) had its price objective decreased by research analysts at Wells Fargo & Company from $30.00 to $26.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 7.93% from the company’s current price.

Several other research analysts have also weighed in on MNRO. Stephens assumed coverage on Monro in a report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $31.00 price objective on shares of Monro in a research report on Wednesday, December 18th.

Monro Price Performance

Shares of NASDAQ:MNRO traded down $0.14 during trading on Monday, reaching $24.09. The stock had a trading volume of 35,675 shares, compared to its average volume of 421,006. Monro has a 52 week low of $21.00 and a 52 week 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. The stock has a market capitalization of $721.47 million, a PE ratio of 27.69, a P/E/G ratio of 2.08 and a beta of 1.11. The business’s 50-day moving average price is $27.10 and its 200 day moving average price is $26.38.

Monro (NASDAQ:MNRO) last released its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.17 earnings per share 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 firm had revenue of $301.39 million for the quarter, compared to the consensus estimate of $300.06 million. During the same period in the previous year, the business earned $0.41 EPS. The firm’s revenue was down 6.4% compared to the same quarter last year. As a group, equities analysts predict that Monro will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MNRO. The Manufacturers Life Insurance Company raised its holdings in shares of Monro by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the auto parts company’s stock valued at $279,000 after purchasing an additional 458 shares during the period. Quarry LP raised its stake in Monro by 30.2% in the third quarter. Quarry LP now owns 2,666 shares of the auto parts company’s stock valued at $77,000 after buying an additional 619 shares during the period. D.B. Root & Company LLC lifted its position in shares of Monro by 7.0% in the third quarter. D.B. Root & Company LLC now owns 14,234 shares of the auto parts company’s stock valued at $411,000 after buying an additional 927 shares during the last quarter. Prosperity Consulting Group LLC lifted its holdings in Monro by 9.2% during the 2nd quarter. Prosperity Consulting Group LLC now owns 17,459 shares of the auto parts company’s stock valued at $417,000 after purchasing an additional 1,466 shares during the last quarter. Finally, Cerity Partners LLC raised its position in shares of Monro by 2.4% in the third quarter. Cerity Partners LLC now owns 84,769 shares of the auto parts company’s stock valued at $2,446,000 after purchasing an additional 2,023 shares during the period.

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.