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

Monro (NASDAQ:MNRO) had its price target decreased by 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 14.09% from the stock’s current price.

MNRO has been the topic of several other research reports. Stephens began 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 on the stock. Wedbush reiterated an “outperform” rating and set a $31.00 price target on shares of Monro in a research report on Wednesday, December 18th.

Monro Price Performance

Shares of MNRO opened at $22.79 on Monday. The company has a current ratio of 0.53, a quick ratio of 0.21 and a debt-to-equity ratio of 0.47. The firm has a market cap of $682.54 million, a price-to-earnings ratio of 26.20, a PEG ratio of 2.08 and a beta of 1.11. Monro has a 52 week low of $21.00 and a 52 week high of $33.98. The stock has a 50 day moving average of $27.01 and a 200-day moving average of $26.41.

Monro (NASDAQ:MNRO) last released its earnings results 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 net margin of 2.24% and a return on equity of 4.77%. 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 previous year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, analysts forecast that Monro will post 0.83 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP boosted its position in shares of Monro by 361.0% during the second quarter. Quarry LP now owns 2,047 shares of the auto parts company’s stock worth $49,000 after buying an additional 1,603 shares during the period. XTX Topco Ltd bought a new stake in shares of Monro during the third quarter valued at about $213,000. Johnson Investment Counsel Inc. lifted its holdings in Monro by 47.2% in the second quarter. Johnson Investment Counsel Inc. now owns 9,360 shares of the auto parts company’s stock worth $223,000 after purchasing an additional 3,000 shares during the period. The Manufacturers Life Insurance Company grew its position in 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 buying an additional 458 shares in the last quarter. Finally, Arete Wealth Advisors LLC acquired a new position in Monro during the 3rd quarter valued at about $287,000.

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.