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

Monro (NASDAQ:MNRO) had its price objective reduced by Wells Fargo & Company from $30.00 to $26.00 in a research note issued to investors on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the auto parts company’s stock.

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

Monro Trading Down 2.8 %

Monro stock opened at $23.55 on Monday. The business’s fifty day moving average is $27.10 and its 200 day moving average is $26.40. 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 stock has a market capitalization of $705.30 million, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. Monro has a one year low of $21.00 and a one year high of $33.98.

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

Monro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Tuesday, December 3rd. Monro’s payout ratio is 128.74%.

Institutional Investors Weigh In On Monro

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in Monro by 14.9% during the 2nd quarter. American Century Companies Inc. now owns 41,007 shares of the auto parts company’s stock valued at $978,000 after buying an additional 5,312 shares during the period. Johnson Investment Counsel Inc. lifted its holdings in shares of Monro by 47.2% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 9,360 shares of the auto parts company’s stock worth $223,000 after acquiring an additional 3,000 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Monro by 8,488.5% during the 2nd quarter. Federated Hermes Inc. now owns 54,623 shares of the auto parts company’s stock worth $1,303,000 after purchasing an additional 53,987 shares during the period. Prosperity Consulting Group LLC grew its holdings in Monro by 9.2% during the 2nd quarter. Prosperity Consulting Group LLC now owns 17,459 shares of the auto parts company’s stock valued at $417,000 after purchasing an additional 1,466 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Monro by 14.1% in the 2nd quarter. Renaissance Technologies LLC now owns 141,979 shares of the auto parts company’s stock worth $3,388,000 after purchasing an additional 17,500 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.