Monro Muffler Brake (NASDAQ:MNRO) Stock Price Target Lowered at Wells Fargo & Company

Monro Muffler Brake (NASDAQ:MNRO) had its price objective cut by investment analysts at Wells Fargo & Company from $16.00 to $15.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 11.44% from the company’s current price.

Several other analysts have also recently commented on the company. Weiss Ratings cut Monro Muffler Brake from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, September 29th. Wall Street Zen downgraded shares of Monro Muffler Brake from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Stephens cut their target price on shares of Monro Muffler Brake from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Finally, Zacks Research raised shares of Monro Muffler Brake from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.00.

Monro Muffler Brake Stock Performance

Shares of NASDAQ MNRO traded down $0.72 during midday trading on Friday, hitting $13.46. The company’s stock had a trading volume of 41,274 shares, compared to its average volume of 952,983. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.16 and a current ratio of 0.49. The firm’s fifty day moving average price is $13.15 and its 200-day moving average price is $14.98. Monro Muffler Brake has a 1-year low of $11.06 and a 1-year high of $23.91. The firm has a market cap of $420.76 million, a P/E ratio of 61.46, a P/E/G ratio of 11.86 and a beta of 1.08.

Monro Muffler Brake (NASDAQ:MNRO) last posted its earnings results on Wednesday, July 29th. The auto parts company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.13). The firm had revenue of $287.13 million during the quarter, compared to the consensus estimate of $286.30 million. Monro Muffler Brake had a return on equity of 0.80% and a net margin of 0.71%. Monro Muffler Brake’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the company posted $0.22 EPS. On average, sell-side analysts forecast that Monro Muffler Brake will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Monro Muffler Brake

Several institutional investors have recently bought and sold shares of the business. Stillwater Wealth Management Group acquired a new stake in shares of Monro Muffler Brake in the third quarter valued at approximately $162,000. Baird Financial Group Inc. acquired a new position in shares of Monro Muffler Brake during the 2nd quarter worth about $207,000. Cygnus Capital Advisors LLC boosted its stake in Monro Muffler Brake by 826.1% during the 2nd quarter. Cygnus Capital Advisors LLC now owns 304,495 shares of the auto parts company’s stock worth $5,209,000 after acquiring an additional 271,615 shares during the last quarter. Penn Capital Management Company LLC raised its holdings in Monro Muffler Brake by 31.9% in the second quarter. Penn Capital Management Company LLC now owns 62,577 shares of the auto parts company’s stock worth $1,071,000 after purchasing an additional 15,146 shares during the period. Finally, Sound Income Strategies LLC raised its position in shares of Monro Muffler Brake by 455.3% during the first quarter. Sound Income Strategies LLC now owns 3,282 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 2,691 shares during the period.

About Monro Muffler Brake

Monro Muffler Brake, Inc, doing business as Monro, is an automotive service and tire retailer headquartered in Rochester, New York. The company operates service centers across the United States under brands that include Monro Auto Service and Tire, Mr. Tire, Tire Choice, Car-X, and other regional names.

Monro provides replacement tires and a broad range of maintenance and repair services for passenger vehicles and light trucks. Its offerings include brake and exhaust work, wheel alignment, steering and suspension repairs, shocks and struts, oil changes, batteries, air-conditioning service, and other preventive maintenance.

Founded in 1957 as a single muffler shop in Rochester, the company expanded through organic growth and acquisitions into a nationwide automotive service network.