Wedbush Reaffirms “Outperform” Rating for Monro (NASDAQ:MNRO)

Monro (NASDAQ:MNRO)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research note issued on Wednesday, Marketbeat reports. They presently have a $31.00 target price on the auto parts company’s stock. Wedbush’s price target suggests a potential upside of 22.97% from the stock’s previous close.

Separately, Stephens began coverage on Monro in a report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price objective for the company.

Monro Stock Up 1.3 %

Shares of Monro stock opened at $25.21 on Wednesday. Monro has a 1 year low of $21.00 and a 1 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. The company has a market capitalization of $755.01 million, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The business has a 50-day moving average of $27.69 and a two-hundred day moving average of $26.34.

Monro (NASDAQ:MNRO) last posted its earnings results 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). 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 period in the previous year, the company posted $0.41 earnings per share. Monro’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, equities analysts predict that Monro will post 0.83 EPS for the current year.

Institutional Investors Weigh In On Monro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNRO. Arete Wealth Advisors LLC bought a new position in shares of Monro in the 3rd quarter valued at about $287,000. Geode Capital Management LLC boosted its position in Monro by 2.5% during the third quarter. Geode Capital Management LLC now owns 823,250 shares of the auto parts company’s stock valued at $23,763,000 after purchasing an additional 20,420 shares during the last quarter. XTX Topco Ltd acquired a new position in Monro during the third quarter valued at approximately $213,000. Wellington Management Group LLP grew its stake in Monro by 20.5% in the third 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 in the last quarter. Finally, State Street Corp increased its position in shares of Monro by 0.8% during the 3rd quarter. State Street Corp now owns 1,344,978 shares of the auto parts company’s stock worth $38,816,000 after purchasing an additional 11,265 shares during 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.