Wells Fargo & Company Lowers Monro Muffler Brake (NASDAQ:MNRO) Price Target to $15.00

Key Points

• Wells Fargo & Company has lowered the price target for Monro Muffler Brake from $16.00 to $15.00 and maintains an "equal weight" rating on the stock.
• Shares of Monro Muffler Brake recently traded at $14.10, showing a 6.38% potential upside based on the new price target.
• The company reported $0.22 EPS for the last quarter, exceeding analysts' expectations, while also reporting a revenue increase of 2.7% year-over-year.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) had its price objective decreased by investment analysts at Wells Fargo & Company from $16.00 to $15.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the auto parts company's stock. Wells Fargo & Company's target price suggests a potential upside of 6.38% from the stock's current price.

MNRO has been the subject of a number of other reports. Wall Street Zen lowered Monro Muffler Brake from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Stephens raised Monro Muffler Brake from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $21.00 to $18.00 in a research note on Friday, April 4th.

Monro Muffler Brake Stock Performance

Shares of Monro Muffler Brake stock traded up $1.03 during trading hours on Thursday, reaching $14.10. The company had a trading volume of 908,692 shares, compared to its average volume of 930,077. Monro Muffler Brake has a one year low of $12.19 and a one year high of $31.49. The business has a fifty day simple moving average of $15.24 and a 200 day simple moving average of $16.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.53 and a quick ratio of 0.18. The firm has a market cap of $422.58 million, a PE ratio of -70.12, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. Monro Muffler Brake had a positive return on equity of 2.43% and a negative net margin of 0.43%. The firm had revenue of $301.04 million during the quarter, compared to analyst estimates of $295.05 million. During the same period last year, the company earned $0.22 earnings per share. The business's revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts anticipate that Monro Muffler Brake will post 0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monro Muffler Brake

Several large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in Monro Muffler Brake by 453.4% during the second quarter. GAMMA Investing LLC now owns 2,601 shares of the auto parts company's stock worth $39,000 after purchasing an additional 2,131 shares during the last quarter. Inspire Investing LLC lifted its stake in Monro Muffler Brake by 45.5% during the first quarter. Inspire Investing LLC now owns 23,709 shares of the auto parts company's stock worth $343,000 after purchasing an additional 7,410 shares during the last quarter. WBI Investments LLC bought a new stake in Monro Muffler Brake during the first quarter worth about $179,000. Jane Street Group LLC lifted its stake in Monro Muffler Brake by 85.2% during the first quarter. Jane Street Group LLC now owns 79,839 shares of the auto parts company's stock worth $1,155,000 after purchasing an additional 36,734 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Monro Muffler Brake by 5.6% during the first quarter. Empowered Funds LLC now owns 141,635 shares of the auto parts company's stock worth $2,049,000 after purchasing an additional 7,464 shares during the last quarter.

About Monro Muffler Brake

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.

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