Monro’s (MNRO) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Monro (NASDAQ:MNRO) in a research note issued to investors on Wednesday morning, Marketbeat reports. Wedbush currently has a $31.00 target price on the auto parts company’s stock.

Separately, Stephens started coverage on Monro in a research report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 target price on the stock.

Monro Stock Down 0.2 %

Shares of MNRO stock opened at $25.16 on Wednesday. The stock has a 50 day moving average of $27.65 and a 200-day moving average of $26.34. The firm has a market cap of $753.52 million, a PE ratio of 28.92, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The company has a quick ratio of 0.21, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. Monro has a 12 month low of $21.00 and a 12 month high of $33.98.

Monro (NASDAQ:MNRO) last issued its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). The company had revenue of $301.39 million during the quarter, compared to the consensus estimate of $300.06 million. Monro had a net margin of 2.24% and a return on equity of 4.77%. Monro’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. On average, equities analysts predict that Monro will post 0.83 EPS for the current year.

Monro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Tuesday, December 3rd. Monro’s dividend payout ratio (DPR) is presently 128.74%.

Institutional Trading of Monro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MNRO. Wellington Management Group LLP lifted its stake 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 worth $46,374,000 after purchasing an additional 273,265 shares during the period. State Street Corp boosted its stake in Monro by 0.8% in the 3rd quarter. State Street Corp now owns 1,344,978 shares of the auto parts company’s stock valued at $38,816,000 after buying an additional 11,265 shares in the last quarter. Millennium Management LLC grew its position in Monro by 3,587.8% in the second quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock valued at $27,181,000 after acquiring an additional 1,108,292 shares during the period. Geode Capital Management LLC raised its stake in Monro by 2.5% during the third quarter. Geode Capital Management LLC now owns 823,250 shares of the auto parts company’s stock worth $23,763,000 after acquiring an additional 20,420 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Monro by 78.9% during the second 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.

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.