Monro Muffler Brake (NASDAQ:MNRO) Given New $16.00 Price Target at Wells Fargo & Company

Monro Muffler Brake (NASDAQ:MNRO) had its target price dropped by analysts at Wells Fargo & Company from $20.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 12.40% from the company’s previous close.

Other research analysts have also issued research reports about the company. Wall Street Zen lowered Monro Muffler Brake from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Oppenheimer upgraded Monro Muffler Brake from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Wednesday, February 11th. Finally, Weiss Ratings raised Monro Muffler Brake from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Monro Muffler Brake Price Performance

Monro Muffler Brake stock opened at $14.24 on Thursday. The company has a market cap of $427.33 million, a price-to-earnings ratio of 708.95, a PEG ratio of 3.37 and a beta of 1.03. The firm’s fifty day moving average is $16.41 and its 200 day moving average is $18.55. The company has a quick ratio of 0.16, a current ratio of 0.46 and a debt-to-equity ratio of 0.43. Monro Muffler Brake has a 52-week low of $12.26 and a 52-week high of $23.91.

Monro Muffler Brake (NASDAQ:MNRO) last issued its quarterly earnings data on Wednesday, May 27th. The auto parts company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.12). Monro Muffler Brake had a return on equity of 2.33% and a net margin of 0.19%.The business had revenue of $273.84 million during the quarter, compared to analysts’ expectations of $283.47 million. During the same period in the previous year, the business earned ($0.09) earnings per share. The business’s quarterly revenue was down 7.2% on a year-over-year basis. Sell-side analysts forecast that Monro Muffler Brake will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Huntington National Bank raised its holdings in shares of Monro Muffler Brake by 61.5% in the fourth quarter. Huntington National Bank now owns 1,996 shares of the auto parts company’s stock worth $40,000 after buying an additional 760 shares during the period. Sound Income Strategies LLC increased its stake in 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 worth $54,000 after purchasing an additional 2,691 shares during the period. GAMMA Investing LLC lifted its position in shares of Monro Muffler Brake by 72.3% during the fourth quarter. GAMMA Investing LLC now owns 12,609 shares of the auto parts company’s stock worth $253,000 after purchasing an additional 5,291 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Monro Muffler Brake by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,775 shares of the auto parts company’s stock worth $257,000 after purchasing an additional 780 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Monro Muffler Brake by 139.8% in the 1st quarter. Royal Bank of Canada now owns 27,904 shares of the auto parts company’s stock worth $404,000 after buying an additional 16,268 shares during the period.

About Monro Muffler Brake

Monro Muffler Brake (NASDAQ:MNRO) is a leading provider of undercar repair and maintenance services for light vehicles in the United States. The company’s core offerings include brake systems, exhaust systems, steering and suspension repairs, tire sales and service, oil and lube changes, wheel alignment, multi-point inspections, and state vehicle inspections. Monro serves both retail customers and fleet accounts, focusing on fast, reliable service and preventive maintenance to help extend vehicle life and safety.

Headquartered in Rochester, New York, Monro was originally founded in 1957 and has grown through a combination of organic expansion and strategic acquisitions.