Wells Fargo & Company Issues Pessimistic Forecast for Monro (NASDAQ:MNRO) Stock Price

Monro (NASDAQ:MNROGet Free Report) had its price objective decreased by equities research analysts at Wells Fargo & Company from $26.00 to $24.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.26% from the company’s current price.

Other research analysts have also issued reports about the stock. Wedbush reiterated 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 report on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 price target on the stock.

Check Out Our Latest Analysis on MNRO

Monro Stock Down 0.2 %

Shares of MNRO stock traded down $0.04 on Monday, reaching $21.97. 121,945 shares of the company were exchanged, compared to its average volume of 532,199. The company has a 50-day moving average of $25.14 and a 200-day moving average of $26.31. Monro has a one year low of $21.00 and a one year high of $33.98. 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 company has a market cap of $657.85 million, a price-to-earnings ratio of 25.24, a PEG ratio of 1.73 and a beta of 1.11.

Monro (NASDAQ:MNROGet Free Report) last announced its earnings results on Wednesday, October 30th. The auto parts company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). Monro had a return on equity of 4.77% and a net margin of 2.24%. The business had revenue of $301.39 million during the quarter, compared to analysts’ expectations of $300.06 million. During the same quarter in the previous year, the firm earned $0.41 EPS. Monro’s quarterly revenue was down 6.4% on a year-over-year basis. Analysts anticipate that Monro will post 0.84 earnings per share for the current year.

Institutional Trading of Monro

Several large investors have recently bought and sold shares of MNRO. Blueshift Asset Management LLC purchased a new stake in Monro in the third quarter worth $830,000. Intech Investment Management LLC purchased a new stake in shares of Monro in the 3rd quarter worth approximately $1,205,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Monro during the third quarter valued at $515,000. Renaissance Technologies LLC boosted its holdings in Monro by 14.1% in the second quarter. Renaissance Technologies LLC now owns 141,979 shares of the auto parts company’s stock worth $3,388,000 after acquiring an additional 17,500 shares in the last quarter. Finally, Landscape Capital Management L.L.C. grew its stake in shares of Monro by 434.7% in the third quarter. Landscape Capital Management L.L.C. now owns 104,550 shares of the auto parts company’s stock worth $3,017,000 after acquiring an additional 84,996 shares during the last quarter.

About Monro

(Get Free Report)

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.

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