Wedbush Lowers Monro (NASDAQ:MNRO) Price Target to $19.00

Monro (NASDAQ:MNRO) had its price target dropped by equities researchers at Wedbush from $27.00 to $19.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the auto parts company’s stock. Wedbush’s target price suggests a potential upside of 26.25% from the company’s current price.

Several other research analysts also recently commented on the company. Stephens reiterated an “equal weight” rating and issued a $21.00 price objective on shares of Monro in a report on Thursday, February 27th. Wells Fargo & Company lowered their price objective on Monro from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th.

Monro Stock Up 3.2 %

Shares of MNRO opened at $15.05 on Tuesday. Monro has a 1 year low of $13.83 and a 1 year high of $31.76. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.19. The stock has a 50 day simple moving average of $18.08 and a two-hundred day simple moving average of $23.59. The firm has a market cap of $450.73 million, a P/E ratio of 23.52, a P/E/G ratio of 2.05 and a beta of 1.09.

Monro (NASDAQ:MNRO) last announced its quarterly earnings data on Wednesday, January 29th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.12). Monro had a net margin of 1.64% and a return on equity of 3.76%. On average, analysts forecast that Monro will post 0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. increased its stake in shares of Monro by 3.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,702,250 shares of the auto parts company’s stock valued at $67,016,000 after buying an additional 85,378 shares during the period. Dimensional Fund Advisors LP increased its position in Monro by 18.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,611,200 shares of the auto parts company’s stock valued at $39,957,000 after purchasing an additional 253,518 shares during the period. Wellington Management Group LLP raised its holdings in Monro by 20.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,606,868 shares of the auto parts company’s stock worth $46,374,000 after purchasing an additional 273,265 shares in the last quarter. State Street Corp lifted 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 worth $38,816,000 after purchasing an additional 11,265 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Monro by 34.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,193,289 shares of the auto parts company’s stock worth $29,594,000 after purchasing an additional 302,515 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.