Monro Muffler Brake (NASDAQ:MNRO) Given New $12.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo cut Monro Muffler Brake’s price target from $15 to $12 while maintaining an “equal weight” rating, implying 7.71% upside from the prior close.
• Analyst sentiment remains mixed but centers on a “Hold” consensus, with two Buy, two Hold, and one Sell rating; the average price target is $23.
• Monro’s latest quarter fell short of expectations, reporting a $0.01 per-share loss versus forecast earnings of $0.05, while revenue declined 1.8% year over year to $283.64 million.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) had its target price reduced by investment analysts at Wells Fargo & Company from $15.00 to $12.00 in a research report issued on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the auto parts company's stock. Wells Fargo & Company's price target would indicate a potential upside of 7.71% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Weiss Ratings lowered Monro Muffler Brake from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, September 29th. Stephens lowered their price target on Monro Muffler Brake from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Wall Street Zen cut shares of Monro Muffler Brake from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Finally, Zacks Research raised Monro Muffler Brake from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $23.00.

Monro Muffler Brake Price Performance

Shares of Monro Muffler Brake stock traded down $1.16 on Friday, hitting $11.14. 482,081 shares of the company traded hands, compared to its average volume of 957,014. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.16 and a current ratio of 0.49. Monro Muffler Brake has a 52 week low of $11.06 and a 52 week high of $23.91. The business has a 50-day simple moving average of $13.29 and a 200 day simple moving average of $16.15. The stock has a market capitalization of $348.27 million, a P/E ratio of 50.78, a price-to-earnings-growth ratio of 11.92 and a beta of 1.08.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last announced its earnings results on Thursday, October 29th. The auto parts company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.06). Monro Muffler Brake had a return on equity of 0.80% and a net margin of 0.71%. The company had revenue of $283.64 million during the quarter, compared to analysts' expectations of $284.06 million. During the same quarter last year, the firm posted $0.21 EPS. Monro Muffler Brake's revenue for the quarter was down 1.8% compared to the same quarter last year. Research analysts expect that Monro Muffler Brake will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Monro Muffler Brake during the 3rd quarter valued at $77,000. Stillwater Wealth Management Group bought a new position in shares of Monro Muffler Brake during the third quarter worth about $162,000. Baird Financial Group Inc. bought a new position in Monro Muffler Brake in the second quarter worth about $207,000. Cygnus Capital Advisors LLC grew its holdings in Monro Muffler Brake by 826.1% in the 2nd quarter. Cygnus Capital Advisors LLC now owns 304,495 shares of the auto parts company's stock worth $5,209,000 after buying an additional 271,615 shares in the last quarter. Finally, Penn Capital Management Company LLC boosted its stake in Monro Muffler Brake by 31.9% during the 2nd quarter. Penn Capital Management Company LLC now owns 62,577 shares of the auto parts company's stock valued at $1,071,000 after purchasing an additional 15,146 shares in the last quarter.

About Monro Muffler Brake

Monro Muffler Brake, Inc, doing business as Monro, is an automotive service and tire retailer headquartered in Rochester, New York. The company operates service centers across the United States under brands that include Monro Auto Service and Tire, Mr. Tire, Tire Choice, Car-X, and other regional names.

Monro provides replacement tires and a broad range of maintenance and repair services for passenger vehicles and light trucks. Its offerings include brake and exhaust work, wheel alignment, steering and suspension repairs, shocks and struts, oil changes, batteries, air-conditioning service, and other preventive maintenance.

Founded in 1957 as a single muffler shop in Rochester, the company expanded through organic growth and acquisitions into a nationwide automotive service network.

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