Monro’s (MNRO) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Monro (NASDAQ:MNRO) in a report issued on Wednesday,RTT News reports. They currently have a $31.00 price target on the auto parts company’s stock.

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

Monro Price Performance

Shares of NASDAQ MNRO opened at $24.88 on Wednesday. The stock has a market cap of $745.13 million, a P/E ratio of 28.60, a P/E/G ratio of 2.20 and a beta of 1.11. The firm’s 50-day simple moving average is $27.72 and its 200 day simple moving average is $26.35. Monro has a fifty-two week low of $21.00 and a fifty-two week high of $33.98. 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 (NASDAQ:MNRO) last released its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). Monro had a return on equity of 4.77% and a net margin of 2.24%. The company had revenue of $301.39 million for the quarter, compared to the consensus estimate of $300.06 million. During the same quarter last year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. Equities analysts expect that Monro will post 0.83 EPS for the current year.

Monro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd were paid a $0.28 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.12 annualized dividend and a dividend yield of 4.50%. Monro’s dividend payout ratio is currently 128.74%.

Institutional Trading of Monro

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNRO. The Manufacturers Life Insurance Company increased its holdings in shares of Monro by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the auto parts company’s stock valued at $279,000 after buying an additional 458 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Monro by 99.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,048 shares of the auto parts company’s stock valued at $25,000 after purchasing an additional 523 shares during the last quarter. Quarry LP boosted its position in shares of Monro by 30.2% in the 3rd quarter. Quarry LP now owns 2,666 shares of the auto parts company’s stock valued at $77,000 after purchasing an additional 619 shares during the period. D.B. Root & Company LLC increased its stake in Monro by 7.0% in the 3rd quarter. D.B. Root & Company LLC now owns 14,234 shares of the auto parts company’s stock worth $411,000 after purchasing an additional 927 shares in the last quarter. Finally, Pullen Investment Management LLC raised its holdings in Monro by 3.4% during the 2nd quarter. Pullen Investment Management LLC now owns 44,366 shares of the auto parts company’s stock worth $1,058,000 after buying an additional 1,463 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.