Wells Fargo & Company Cuts Monro (NASDAQ:MNRO) Price Target to $15.00

Monro (NASDAQ:MNRO) had its price target decreased by Wells Fargo & Company from $20.00 to $15.00 in a research note released on Monday, MarketBeat Ratings reports. Wells Fargo & Company currently has an equal weight rating on the auto parts company’s stock.

A number of other brokerages have also recently commented on MNRO. Wedbush reduced their target price on shares of Monro from $27.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Stephens raised Monro from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $21.00 to $18.00 in a research report on Friday, April 4th.

Monro Trading Down 1.8 %

Shares of NASDAQ:MNRO opened at $13.94 on Monday. The firm has a market capitalization of $417.49 million, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09. The business’s 50 day moving average price is $15.75 and its 200-day moving average price is $21.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.19. Monro has a 1 year low of $13.50 and a 1 year high of $31.49.

Monro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.12 annualized dividend and a dividend yield of 8.03%. Monro’s dividend payout ratio (DPR) is currently 175.00%.

Hedge Funds Weigh In On Monro

Several large investors have recently bought and sold shares of the business. D.B. Root & Company LLC grew its stake in Monro by 8.7% during the 4th quarter. D.B. Root & Company LLC now owns 15,467 shares of the auto parts company’s stock worth $384,000 after buying an additional 1,233 shares during the last quarter. Inspire Investing LLC boosted its position in shares of Monro by 14.3% in the 4th quarter. Inspire Investing LLC now owns 16,299 shares of the auto parts company’s stock worth $404,000 after buying an additional 2,042 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of Monro during the 4th quarter worth approximately $28,899,000. Bleakley Financial Group LLC raised its holdings in shares of Monro by 17.9% in the fourth quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company’s stock worth $246,000 after acquiring an additional 1,506 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Monro during the 4th quarter worth about $3,327,000.

Monro Company Profile

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.