Monro Muffler Brake (NASDAQ:MNRO) Stock Price Target Cut by Wells Fargo & Company

Key Points

• Wells Fargo cut Monro Muffler Brake’s price target from $16 to $15 while maintaining an “equal weight” rating, implying 11.44% upside from the prior close.
• MNRO shares fell 5.1% to $13.46 in Friday trading. The stock has a consensus “Hold” rating, with analysts’ average price target at $24.00.
• Monro’s latest quarterly results missed earnings expectations, reporting a $0.09 loss per share versus the projected $0.04 profit, while revenue declined 4.6% year over year.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) had its price target lowered by Wells Fargo & Company from $16.00 to $15.00 in a research note issued on Friday, Benzinga reports. The firm currently has an "equal weight" rating on the auto parts company's stock. Wells Fargo & Company's price target points to a potential upside of 11.44% from the stock's previous close.

MNRO has been the topic of several other reports. Weiss Ratings lowered shares of Monro Muffler Brake from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, September 29th. Zacks Research raised Monro Muffler Brake from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Stephens reduced their price objective on shares of Monro Muffler Brake from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Thursday, July 30th. Finally, Wall Street Zen lowered Monro Muffler Brake from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $24.00.

Monro Muffler Brake Stock Down 5.1%

MNRO stock traded down $0.72 during midday trading on Friday, hitting $13.46. The company's stock had a trading volume of 41,274 shares, compared to its average volume of 952,983. The firm has a market capitalization of $420.76 million, a P/E ratio of 61.46, a PEG ratio of 11.86 and a beta of 1.08. The firm has a 50-day simple moving average of $13.15 and a 200-day simple moving average of $14.98. Monro Muffler Brake has a 52-week low of $11.06 and a 52-week high of $23.91. The company has a quick ratio of 0.16, a current ratio of 0.49 and a debt-to-equity ratio of 0.50.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last released its earnings results on Wednesday, July 29th. The auto parts company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.13). Monro Muffler Brake had a return on equity of 0.80% and a net margin of 0.71%. The firm had revenue of $287.13 million for the quarter, compared to analysts' expectations of $286.30 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The firm's quarterly revenue was down 4.6% on a year-over-year basis. As a group, equities analysts forecast that Monro Muffler Brake will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Sound Income Strategies LLC increased its holdings in shares of Monro Muffler Brake by 455.3% during the 1st quarter. Sound Income Strategies LLC now owns 3,282 shares of the auto parts company's stock worth $54,000 after buying an additional 2,691 shares during the last quarter. Stillwater Wealth Management Group acquired a new position in Monro Muffler Brake during the third quarter valued at approximately $162,000. Baird Financial Group Inc. purchased a new stake in Monro Muffler Brake during the second quarter worth approximately $207,000. Penn Capital Management Company LLC lifted its holdings in shares of 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 acquiring an additional 15,146 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Monro Muffler Brake by 19.1% during the 1st quarter. SG Americas Securities LLC now owns 147,901 shares of the auto parts company's stock worth $2,372,000 after purchasing an additional 23,679 shares during the period.

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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