Monro (NASDAQ:MNRO) Coverage Initiated at Stephens

Equities research analysts at Stephens initiated coverage on shares of Monro (NASDAQ:MNRO) in a research note issued on Tuesday, Briefing.com reports. The firm set an “equal weight” rating and a $31.00 price target on the auto parts company’s stock. Stephens’ target price indicates a potential upside of 14.10% from the stock’s previous close.

Monro Price Performance

MNRO opened at $27.17 on Tuesday. The firm has a market cap of $812.95 million, a PE ratio of 23.03, a P/E/G ratio of 1.83 and a beta of 1.11. The stock has a 50-day moving average price of $26.80 and a 200-day moving average price of $26.35. Monro has a 1 year low of $21.00 and a 1 year high of $33.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.59 and a quick ratio of 0.25.

Monro (NASDAQ:MNRO) last released its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.21. The business had revenue of $293.20 million during the quarter, compared to analyst estimates of $293.70 million. Monro had a net margin of 2.78% and a return on equity of 5.90%. Monro’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. Sell-side analysts predict that Monro will post 1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in shares of Monro by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the auto parts company’s stock valued at $279,000 after purchasing an additional 458 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Monro by 99.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,048 shares of the auto parts company’s stock worth $25,000 after purchasing an additional 523 shares during the period. Wasatch Advisors LP boosted its holdings in shares of Monro by 3.0% in the first quarter. Wasatch Advisors LP now owns 20,958 shares of the auto parts company’s stock worth $661,000 after buying an additional 615 shares during the last quarter. EntryPoint Capital LLC grew its position in Monro by 33.9% during the first quarter. EntryPoint Capital LLC now owns 3,169 shares of the auto parts company’s stock valued at $100,000 after buying an additional 802 shares during the period. Finally, Headlands Technologies LLC increased its holdings in Monro by 32.5% during the first quarter. Headlands Technologies LLC now owns 3,675 shares of the auto parts company’s stock valued at $116,000 after buying an additional 902 shares during the last quarter.

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.