Monro Muffler Brake (NASDAQ:MNRO) Price Target Raised to $18.00 at Wells Fargo & Company

Monro Muffler Brake (NASDAQ:MNRO) had its price target lifted by Wells Fargo & Company from $15.00 to $18.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the auto parts company’s stock.

Several other brokerages have also recently issued reports on MNRO. Wall Street Zen upgraded Monro Muffler Brake from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Monro Muffler Brake in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.33.

Monro Muffler Brake Price Performance

NASDAQ:MNRO opened at $18.42 on Tuesday. Monro Muffler Brake has a 52 week low of $12.19 and a 52 week high of $30.18. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.16 and a current ratio of 0.50. The firm’s 50-day simple moving average is $17.31 and its 200 day simple moving average is $15.63. The firm has a market cap of $552.23 million, a price-to-earnings ratio of -27.49, a P/E/G ratio of 1.98 and a beta of 1.08.

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

Monro Muffler Brake Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a $0.28 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $1.12 annualized dividend and a dividend yield of 6.1%. Monro Muffler Brake’s dividend payout ratio (DPR) is presently -167.16%.

Institutional Trading of Monro Muffler Brake

Institutional investors and hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. grew its position in Monro Muffler Brake by 1.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,741,498 shares of the auto parts company’s stock valued at $39,670,000 after acquiring an additional 39,248 shares during the last quarter. Nomura Holdings Inc. lifted its holdings in shares of Monro Muffler Brake by 62.8% in the first quarter. Nomura Holdings Inc. now owns 1,681,250 shares of the auto parts company’s stock worth $24,328,000 after acquiring an additional 648,269 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Monro Muffler Brake by 20.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 822,515 shares of the auto parts company’s stock valued at $11,902,000 after purchasing an additional 139,730 shares in the last quarter. Clearline Capital LP bought a new stake in shares of Monro Muffler Brake during the 1st quarter valued at approximately $11,810,000. Finally, Goldman Sachs Group Inc. increased its position in Monro Muffler Brake by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 688,075 shares of the auto parts company’s stock worth $9,956,000 after purchasing an additional 68,862 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.