Monro’s (MNRO) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Monro (NASDAQ:MNRO) in a research report released on Wednesday,RTT News reports. The firm currently has a $31.00 target price on the auto parts company’s stock.

Separately, Stephens initiated coverage on shares of Monro in a research note on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 target price for the company.

Monro Stock Performance

Shares of Monro stock opened at $24.88 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.21 and a current ratio of 0.53. Monro has a 1 year low of $21.00 and a 1 year high of $33.98. The firm’s 50-day simple moving average is $27.72 and its 200-day simple moving average is $26.35. The firm has a market cap of $745.13 million, a PE ratio of 28.60, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11.

Monro (NASDAQ:MNRO) last announced its quarterly earnings data 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 firm had revenue of $301.39 million for the quarter, compared to analyst estimates of $300.06 million. Monro had a net margin of 2.24% and a return on equity of 4.77%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.41 EPS. Equities analysts forecast that Monro will post 0.83 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend was Tuesday, December 3rd. Monro’s payout ratio is 128.74%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Arete Wealth Advisors LLC acquired a new position in shares of Monro during the third quarter valued at $287,000. Geode Capital Management LLC lifted its position in Monro by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 823,250 shares of the auto parts company’s stock valued at $23,763,000 after purchasing an additional 20,420 shares during the last quarter. XTX Topco Ltd acquired a new position in Monro during the 3rd quarter valued at about $213,000. Wellington Management Group LLP grew its position 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 during the last quarter. Finally, State Street Corp increased its stake in shares of Monro by 0.8% in the third quarter. State Street Corp now owns 1,344,978 shares of the auto parts company’s stock valued at $38,816,000 after purchasing an additional 11,265 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.