Monro (NASDAQ:MNRO) Price Target Lowered to $19.00 at Wedbush

Monro (NASDAQ:MNRO) had its price objective lowered by Wedbush from $27.00 to $19.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the auto parts company’s stock.

MNRO has been the topic of several other reports. Wells Fargo & Company reduced their price objective on Monro from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Stephens reiterated an “equal weight” rating and set a $21.00 price target on shares of Monro in a research report on Thursday, February 27th.

Monro Stock Performance

Shares of MNRO opened at $14.48 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. Monro has a 12-month low of $13.83 and a 12-month high of $31.76. The company has a market cap of $433.66 million, a PE ratio of 22.63, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09. The stock has a 50-day moving average price of $17.94 and a 200-day moving average price of $23.53.

Monro (NASDAQ:MNRO) last announced its earnings results on Wednesday, January 29th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.12). Monro had a return on equity of 3.76% and a net margin of 1.64%. As a group, equities analysts forecast that Monro will post 0.63 earnings per share for the current fiscal year.

Monro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.28 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.73%. Monro’s dividend payout ratio (DPR) is currently 175.00%.

Institutional Investors Weigh In On Monro

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC bought a new position in Monro during the 4th quarter worth approximately $3,327,000. Pacer Advisors Inc. purchased a new stake in shares of Monro during the fourth quarter valued at approximately $28,899,000. Geode Capital Management LLC grew its holdings in shares of Monro by 2.5% in the third quarter. Geode Capital Management LLC now owns 823,250 shares of the auto parts company’s stock worth $23,763,000 after purchasing an additional 20,420 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Monro by 1,288.0% in the fourth quarter. Victory Capital Management Inc. now owns 141,121 shares of the auto parts company’s stock worth $3,500,000 after buying an additional 130,954 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Monro in the fourth quarter worth $272,000.

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.