Wells Fargo & Company Has Lowered Expectations for Monro Muffler Brake (NASDAQ:MNRO) Stock Price

Monro Muffler Brake (NASDAQ:MNRO) had its price target cut by stock analysts at Wells Fargo & Company from $16.00 to $15.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 6.46% from the company’s current price.

Other analysts have also issued reports about the stock. Stephens upgraded shares of Monro Muffler Brake from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $21.00 to $18.00 in a research note on Friday, April 4th. Wall Street Zen lowered shares of Monro Muffler Brake from a “hold” rating to a “sell” rating in a research note on Sunday, July 20th.

Monro Muffler Brake Stock Down 0.1%

Shares of MNRO opened at $14.09 on Thursday. The firm has a market cap of $422.29 million, a P/E ratio of -21.03, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97. Monro Muffler Brake has a 12-month low of $12.19 and a 12-month high of $30.18. The company’s 50-day moving average price is $15.30 and its 200 day moving average price is $16.16. The company has a current ratio of 0.50, a quick ratio of 0.18 and a debt-to-equity ratio of 0.47.

Monro Muffler Brake (NASDAQ:MNRO) last issued its quarterly earnings data on Wednesday, July 30th. The auto parts company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $301.04 million for the quarter, compared to analyst estimates of $295.05 million. Monro Muffler Brake had a negative net margin of 1.59% and a positive return on equity of 2.49%. Monro Muffler Brake’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. On average, sell-side analysts forecast that Monro Muffler Brake will post 0.63 earnings per share for the current year.

Hedge Funds Weigh In On Monro Muffler Brake

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new position in shares of Monro Muffler Brake during the first quarter worth about $359,000. SG Americas Securities LLC acquired a new position in shares of Monro Muffler Brake during the first quarter worth about $680,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Monro Muffler Brake during the fourth quarter worth about $1,207,000. JPMorgan Chase & Co. grew its position in shares of Monro Muffler Brake by 68.3% during the fourth quarter. JPMorgan Chase & Co. now owns 152,710 shares of the auto parts company’s stock worth $3,787,000 after buying an additional 61,988 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Monro Muffler Brake by 51.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 92,558 shares of the auto parts company’s stock worth $2,295,000 after buying an additional 31,340 shares in the last quarter.

About Monro Muffler Brake

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.