Monro (NASDAQ:MNRO) Price Target Cut to $26.00 by Analysts at Wells Fargo & Company

Monro (NASDAQ:MNRO - Get Free Report) had its price target reduced by stock analysts at Wells Fargo & Company from $30.00 to $26.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the auto parts company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 10.40% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. Stephens started coverage on Monro in a research note on Tuesday, October 15th. They set an "equal weight" rating and a $31.00 target price for the company. Wedbush reiterated an "outperform" rating and set a $31.00 price objective on shares of Monro in a report on Wednesday, December 18th.

Monro Trading Down 2.8 %

NASDAQ:MNRO traded down $0.68 during trading hours on Monday, hitting $23.55. 707,717 shares of the company were exchanged, compared to its average volume of 651,972. The stock has a market capitalization of $705.30 million, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. Monro has a one year low of $21.00 and a one year high of $33.98. The company has a fifty day simple moving average of $27.10 and a 200 day simple moving average of $26.40. The company has a current ratio of 0.53, a quick ratio of 0.21 and a debt-to-equity ratio of 0.47.

Monro (NASDAQ:MNRO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.17 earnings per share (EPS) 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 firm had revenue of $301.39 million during the quarter, compared to analyst estimates of $300.06 million. During the same quarter last year, the firm posted $0.41 EPS. The firm's revenue for the quarter was down 6.4% on a year-over-year basis. Sell-side analysts expect that Monro will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Monro

A number of institutional investors have recently added to or reduced their stakes in MNRO. Arete Wealth Advisors LLC bought a new stake in shares of Monro in the third quarter valued at $287,000. Geode Capital Management LLC grew its holdings in Monro by 2.5% during 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 buying an additional 20,420 shares in the last quarter. XTX Topco Ltd purchased a new position in Monro during the third quarter valued at approximately $213,000. Wellington Management Group LLP increased its holdings in shares of Monro by 20.5% in the third 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 period. Finally, State Street Corp raised its holdings in shares of Monro by 0.8% in the 3rd quarter. State Street Corp now owns 1,344,978 shares of the auto parts company's stock valued at $38,816,000 after acquiring an additional 11,265 shares in 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.