Wedbush Has Lowered Expectations for Monro (NASDAQ:MNRO) Stock Price

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

MNRO has been the topic of several other reports. Wells Fargo & Company lowered their price target on Monro from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and set a $21.00 target price on shares of Monro in a report on Thursday, February 27th.

Monro Stock Performance

Shares of MNRO stock opened at $14.42 on Tuesday. The company’s fifty day simple moving average is $18.36 and its 200-day simple moving average is $23.73. The company has a current ratio of 0.54, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. Monro has a 52 week low of $13.89 and a 52 week high of $31.84. The company has a market cap of $431.86 million, a PE ratio of 22.52, a P/E/G ratio of 2.05 and a beta of 1.09.

Monro (NASDAQ:MNRO) last issued its quarterly earnings data on Wednesday, January 29th. The auto parts company reported $0.19 EPS 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%. As a group, equities research analysts anticipate that Monro will post 0.63 EPS for the current year.

Institutional Investors Weigh In On Monro

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

About Monro

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.