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

Monro (NASDAQ:MNRO) had its price target lowered by Wells Fargo & Company from $30.00 to $26.00 in a report published on Monday,Benzinga reports. The firm currently has an equal weight rating on the auto parts company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Wedbush restated an “outperform” rating and issued a $31.00 price objective on shares of Monro in a research note on Wednesday, December 18th. Stephens assumed coverage on shares of Monro in a research note on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price target on the stock.

Monro Stock Down 2.5 %

MNRO opened at $22.22 on Monday. Monro has a twelve month low of $21.00 and a twelve month high of $33.98. The company’s 50-day moving average price is $26.82 and its two-hundred day moving average price is $26.37. The stock has a market cap of $665.47 million, a price-to-earnings ratio of 25.54, a PEG ratio of 2.08 and a beta of 1.11. The company has a quick ratio of 0.21, a current ratio of 0.53 and a debt-to-equity ratio of 0.47.

Monro (NASDAQ:MNRO) last announced its quarterly earnings data 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). The firm had revenue of $301.39 million for the quarter, compared to the consensus estimate of $300.06 million. Monro had a net margin of 2.24% and a return on equity of 4.77%. Monro’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the company posted $0.41 earnings per share. As a group, equities analysts expect that Monro will post 0.83 earnings per share for the current year.

Monro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.04%. The ex-dividend date was Tuesday, December 3rd. Monro’s dividend payout ratio is presently 128.74%.

Hedge Funds Weigh In On Monro

Several hedge funds have recently bought and sold shares of MNRO. Arete Wealth Advisors LLC purchased a new stake in Monro in the 3rd quarter worth approximately $287,000. Geode Capital Management LLC raised its position in shares of Monro by 2.5% in 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. XTX Topco Ltd bought a new stake in Monro during the third quarter valued at $213,000. Wellington Management Group LLP grew its position in Monro by 20.5% during the third quarter. Wellington Management Group LLP now owns 1,606,868 shares of the auto parts company’s stock worth $46,374,000 after buying an additional 273,265 shares in the last quarter. Finally, State Street Corp grew its position in Monro by 0.8% during the third quarter. State Street Corp now owns 1,344,978 shares of the auto parts company’s stock worth $38,816,000 after buying an additional 11,265 shares in 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.