Wedbush Reaffirms Outperform Rating for Monro (NASDAQ:MNRO)

Monro (NASDAQ:MNRO)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research report issued on Wednesday,RTT News reports. They currently have a $31.00 target price on the auto parts company’s stock. Wedbush’s price objective points to a potential upside of 24.60% from the stock’s current price.

Separately, Stephens began coverage on shares of Monro in a report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price target for the company.

Monro Stock Performance

Shares of MNRO traded down $0.86 during trading hours on Wednesday, reaching $24.88. 443,165 shares of the company traded hands, compared to its average volume of 515,864. The stock has a market cap of $745.13 million, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.21 and a current ratio of 0.53. The stock’s fifty day moving average is $27.77 and its 200 day moving average is $26.36. Monro has a 1-year low of $21.00 and a 1-year high of $33.98.

Monro (NASDAQ:MNRO) last posted its 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). The business had revenue of $301.39 million for the quarter, compared to the consensus estimate of $300.06 million. Monro had a return on equity of 4.77% and a net margin of 2.24%. Monro’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. Equities research analysts anticipate that Monro will post 0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MNRO. Millennium Management LLC raised its position in shares of Monro by 3,587.8% during the 2nd quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock valued at $27,181,000 after purchasing an additional 1,108,292 shares during the period. Wellington Management Group LLP lifted its position in Monro by 20.5% during the third quarter. Wellington Management Group LLP now owns 1,606,868 shares of the auto parts company’s stock valued at $46,374,000 after acquiring an additional 273,265 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Monro by 78.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 254,900 shares of the auto parts company’s stock valued at $6,082,000 after acquiring an additional 112,400 shares during the period. Maverick Capital Ltd. grew its holdings in Monro by 720.3% during the second quarter. Maverick Capital Ltd. now owns 121,354 shares of the auto parts company’s stock worth $2,896,000 after acquiring an additional 106,560 shares during the period. Finally, Landscape Capital Management L.L.C. lifted its holdings in Monro by 434.7% during the third quarter. Landscape Capital Management L.L.C. now owns 104,550 shares of the auto parts company’s stock valued at $3,017,000 after purchasing an additional 84,996 shares in the last quarter.

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.