Monro (NASDAQ:MNRO) Price Target Raised to $16.00

Monro (NASDAQ:MNRO - Get Free Report) had its target price boosted by equities research analysts at Wells Fargo & Company from $15.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the auto parts company's stock. Wells Fargo & Company's target price would indicate a potential upside of 5.06% from the stock's current price.

Several other equities analysts have also recently issued reports on MNRO. Stephens upgraded shares of Monro from an "equal weight" rating to an "overweight" rating and reduced their price target for the company from $21.00 to $18.00 in a research report on Friday, April 4th. Wedbush reduced their price target on shares of Monro from $27.00 to $19.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st.

Monro Trading Down 4.1%

Shares of NASDAQ MNRO traded down $0.65 during midday trading on Thursday, hitting $15.23. 1,333,237 shares of the company traded hands, compared to its average volume of 712,261. Monro has a 12-month low of $12.20 and a 12-month high of $31.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.54. The stock has a 50-day moving average price of $14.19 and a 200 day moving average price of $19.46. The firm has a market cap of $456.12 million, a P/E ratio of 23.80, a P/E/G ratio of 2.05 and a beta of 0.95.

Monro (NASDAQ:MNRO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). Monro had a net margin of 1.64% and a return on equity of 3.76%. The company had revenue of $294.99 million for the quarter, compared to analysts' expectations of $288.60 million. During the same quarter in the prior year, the firm earned $0.21 EPS. Monro's quarterly revenue was down 4.9% compared to the same quarter last year. As a group, analysts expect that Monro will post 0.63 earnings per share for the current year.

Institutional Investors Weigh In On Monro

Several hedge funds have recently bought and sold shares of MNRO. Clearline Capital LP bought a new stake in Monro during the first quarter worth about $11,810,000. Nomura Holdings Inc. lifted its stake in shares of Monro by 62.8% in the first quarter. Nomura Holdings Inc. now owns 1,681,250 shares of the auto parts company's stock worth $24,328,000 after buying an additional 648,269 shares in the last quarter. Cooper Creek Partners Management LLC lifted its stake in shares of Monro by 66.4% in the fourth quarter. Cooper Creek Partners Management LLC now owns 929,288 shares of the auto parts company's stock worth $23,046,000 after buying an additional 370,960 shares in the last quarter. Maverick Capital Ltd. bought a new position in shares of Monro in the first quarter worth approximately $4,379,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Monro by 34.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,193,289 shares of the auto parts company's stock worth $29,594,000 after buying an additional 302,515 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.