Wells Fargo & Company Lowers Monro (NASDAQ:MNRO) Price Target to $24.00

Monro (NASDAQ:MNRO) had its target price decreased by Wells Fargo & Company from $26.00 to $24.00 in a report published on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the auto parts company’s stock.

Several other analysts have also recently issued reports on MNRO. Stephens initiated coverage on shares of Monro in a research note on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Monro in a report on Wednesday, December 18th.

Monro Price Performance

Shares of Monro stock opened at $20.31 on Monday. The stock has a market capitalization of $608.28 million, a P/E ratio of 23.34, a PEG ratio of 1.73 and a beta of 1.11. The business has a 50 day simple moving average of $24.88 and a two-hundred day simple moving average of $26.29. Monro has a 12 month low of $19.39 and a 12 month 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.

Monro (NASDAQ:MNRO) last posted its quarterly earnings data on Wednesday, January 29th. The auto parts company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.12). Monro had a net margin of 2.24% and a return on equity of 4.77%. As a group, analysts predict that Monro will post 0.84 EPS for the current fiscal year.

Monro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.12 annualized dividend and a dividend yield of 5.51%. Monro’s dividend payout ratio (DPR) is 128.74%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in Monro by 14.9% in the second quarter. American Century Companies Inc. now owns 41,007 shares of the auto parts company’s stock valued at $978,000 after purchasing an additional 5,312 shares during the period. Renaissance Technologies LLC lifted its position in Monro by 14.1% in the second quarter. Renaissance Technologies LLC now owns 141,979 shares of the auto parts company’s stock valued at $3,388,000 after buying an additional 17,500 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in Monro by 14.0% during the second quarter. Ensign Peak Advisors Inc now owns 20,416 shares of the auto parts company’s stock worth $487,000 after buying an additional 2,500 shares during the period. Public Sector Pension Investment Board increased its position in shares of Monro by 7.3% during the second quarter. Public Sector Pension Investment Board now owns 65,788 shares of the auto parts company’s stock valued at $1,570,000 after acquiring an additional 4,490 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Monro by 64.5% in the 2nd quarter. Squarepoint Ops LLC now owns 66,520 shares of the auto parts company’s stock valued at $1,587,000 after acquiring an additional 26,092 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.