Wells Fargo & Company Lowers Monro (NASDAQ:MNRO) Price Target to $26.00

Monro (NASDAQ:MNRO) had its price objective decreased by research analysts at Wells Fargo & Company from $30.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 14.09% from the company’s current price.

Other research analysts have also issued reports about the company. Wedbush reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Monro in a research report on Wednesday, December 18th. Stephens began coverage on Monro in a report on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 price objective on the stock.

Monro Stock Performance

NASDAQ MNRO opened at $22.79 on Monday. The business’s 50-day moving average price is $27.01 and its 200 day moving average price is $26.41. The company has a current ratio of 0.53, a quick ratio of 0.21 and a debt-to-equity ratio of 0.47. Monro has a twelve month low of $21.00 and a twelve month high of $33.98. The company has a market capitalization of $682.54 million, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11.

Monro (NASDAQ:MNRO) last posted its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). Monro had a net margin of 2.24% and a return on equity of 4.77%. The company had revenue of $301.39 million for the quarter, compared to analyst estimates of $300.06 million. During the same period in the prior year, the company earned $0.41 EPS. The company’s revenue was down 6.4% compared to the same quarter last year. On average, research analysts predict that Monro will post 0.83 earnings per share for the current year.

Institutional Trading of Monro

Several large investors have recently modified their holdings of MNRO. Wellington Management Group LLP boosted its holdings 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 during the last quarter. State Street Corp raised its position in shares of Monro by 0.8% in the 3rd quarter. State Street Corp now owns 1,344,978 shares of the auto parts company’s stock valued at $38,816,000 after purchasing an additional 11,265 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Monro by 3,587.8% during the 2nd quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock valued at $27,181,000 after buying an additional 1,108,292 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Monro by 2.5% during the third quarter. Geode Capital Management LLC now owns 823,250 shares of the auto parts company’s stock worth $23,763,000 after buying an additional 20,420 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Monro by 78.9% in the second quarter. First Eagle Investment Management LLC now owns 254,900 shares of the auto parts company’s stock worth $6,082,000 after buying an additional 112,400 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.