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

Monro (NASDAQ:MNRO - Get Free Report) had its price objective cut by Wedbush from $27.00 to $19.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the auto parts company's stock. Wedbush's price objective indicates a potential upside of 24.43% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Stephens restated an "equal weight" rating and issued a $21.00 target price on shares of Monro in a research report on Thursday, February 27th. Wells Fargo & Company reduced their target price on Monro from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th.

Monro Stock Performance

Shares of MNRO traded up $0.79 during mid-day trading on Tuesday, hitting $15.27. 1,181,013 shares of the company's stock were exchanged, compared to its average volume of 642,856. The company has a quick ratio of 0.19, a current ratio of 0.54 and a debt-to-equity ratio of 0.45. Monro has a 52 week low of $13.83 and a 52 week high of $31.53. The stock's 50-day simple moving average is $17.80 and its 200-day simple moving average is $23.46. The firm has a market cap of $457.32 million, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09.

Monro (NASDAQ:MNRO - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The auto parts company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.12). Monro had a net margin of 1.64% and a return on equity of 3.76%. On average, equities research analysts expect that Monro will post 0.63 EPS for the current year.

Institutional Trading of Monro

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc boosted its holdings in shares of Monro by 964.8% during the 1st quarter. Versant Capital Management Inc now owns 1,938 shares of the auto parts company's stock valued at $28,000 after acquiring an additional 1,756 shares in the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Monro during the fourth quarter worth about $52,000. Quarry LP increased its stake in shares of Monro by 30.2% in the third quarter. Quarry LP now owns 2,666 shares of the auto parts company's stock valued at $77,000 after buying an additional 619 shares during the period. KLP Kapitalforvaltning AS bought a new position in Monro in the 4th quarter valued at approximately $156,000. Finally, XTX Topco Ltd bought a new stake in Monro during the 3rd quarter worth approximately $213,000.

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.