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

Monro (NASDAQ:MNRO) had its price objective dropped by stock analysts at Wedbush from $27.00 to $19.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the auto parts company’s stock. Wedbush’s target price would indicate a potential upside of 31.76% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Stephens reaffirmed an “equal weight” rating and set a $21.00 price target on shares of Monro in a research report on Thursday, February 27th. Wells Fargo & Company reduced 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 Price Performance

Shares of MNRO stock opened at $14.42 on Tuesday. The firm has a market cap of $431.86 million, a price-to-earnings ratio of 22.52, a PEG ratio of 2.05 and a beta of 1.09. Monro has a 12 month low of $13.89 and a 12 month high of $31.84. The company has a quick ratio of 0.19, a current ratio of 0.54 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $18.36 and a 200 day moving average price of $23.73.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pullen Investment Management LLC boosted its holdings in shares of Monro by 10.8% during the fourth quarter. Pullen Investment Management LLC now owns 54,004 shares of the auto parts company’s stock worth $1,339,000 after acquiring an additional 5,247 shares during the period. PharVision Advisers LLC acquired a new stake in Monro during the 4th quarter worth approximately $501,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Monro by 9.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 65,004 shares of the auto parts company’s stock valued at $1,612,000 after purchasing an additional 5,471 shares during the period. Squarepoint Ops LLC acquired a new position in Monro in the 4th quarter valued at $2,866,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Monro in the 4th quarter valued at $353,000.

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.