Monro Muffler Brake (NASDAQ:MNRO) Stock Gets Price Target Reduction from Wells Fargo & Company

Monro Muffler Brake (NASDAQ:MNRO) had its price objective cut by Wells Fargo & Company from $16.00 to $15.00 in a report released on Friday morning,Benzinga reports. They currently have an equal weight rating on the auto parts company’s stock.

MNRO has been the subject of several other reports. Wall Street Zen downgraded Monro Muffler Brake from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Stephens lowered their target price on Monro Muffler Brake from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Zacks Research upgraded Monro Muffler Brake from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Weiss Ratings downgraded Monro Muffler Brake from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, September 29th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.00.

Monro Muffler Brake Stock Performance

NASDAQ:MNRO opened at $13.23 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.16 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $13.19 and a two-hundred day moving average price of $14.97. Monro Muffler Brake has a twelve month low of $11.06 and a twelve month high of $23.91. The company has a market capitalization of $413.57 million, a P/E ratio of 60.14, a price-to-earnings-growth ratio of 11.02 and a beta of 1.08.

Monro Muffler Brake (NASDAQ:MNRO) last announced its earnings results on Wednesday, July 29th. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). The business had revenue of $287.13 million for the quarter, compared to analyst estimates of $286.30 million. Monro Muffler Brake had a return on equity of 0.80% and a net margin of 0.71%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. As a group, research analysts expect that Monro Muffler Brake will post 0.08 earnings per share for the current fiscal year.

Monro Muffler Brake Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Tuesday, August 25th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 8.5%. The ex-dividend date of this dividend was Tuesday, August 25th. Monro Muffler Brake’s dividend payout ratio (DPR) is currently 509.09%.

Institutional Investors Weigh In On Monro Muffler Brake

Hedge funds and other institutional investors have recently modified their holdings of the company. Sound Income Strategies LLC raised its position in shares of Monro Muffler Brake by 455.3% in the first quarter. Sound Income Strategies LLC now owns 3,282 shares of the auto parts company’s stock valued at $54,000 after buying an additional 2,691 shares during the last quarter. Stillwater Wealth Management Group acquired a new stake in Monro Muffler Brake during the third quarter worth approximately $162,000. Baird Financial Group Inc. acquired a new stake in Monro Muffler Brake during the second quarter worth approximately $207,000. Penn Capital Management Company LLC boosted its position in Monro Muffler Brake by 31.9% during 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 acquiring an additional 15,146 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Monro Muffler Brake by 19.1% during the first quarter. SG Americas Securities LLC now owns 147,901 shares of the auto parts company’s stock worth $2,372,000 after acquiring an additional 23,679 shares during the last quarter.

Monro Muffler Brake Company Profile

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.