Monro Muffler Brake (NASDAQ:MNRO) Price Target Cut to $12.00 by Analysts at Wells Fargo & Company

Monro Muffler Brake (NASDAQ:MNRO) had its target price decreased by Wells Fargo & Company from $15.00 to $12.00 in a research note released on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the auto parts company’s stock.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Monro Muffler Brake from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, September 29th. Wall Street Zen lowered shares of Monro Muffler Brake from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Stephens dropped their price objective on shares of Monro Muffler Brake from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Finally, Zacks Research raised shares of Monro Muffler Brake from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Monro Muffler Brake presently has a consensus rating of “Hold” and a consensus price target of $23.00.

Monro Muffler Brake Trading Down 2.8%

Shares of NASDAQ MNRO opened at $11.95 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.16 and a debt-to-equity ratio of 0.48. Monro Muffler Brake has a twelve month low of $11.06 and a twelve month high of $23.91. The stock has a 50 day moving average of $13.29 and a two-hundred day moving average of $16.11.

Monro Muffler Brake (NASDAQ:MNRO) last posted its quarterly earnings data on Thursday, October 29th. The auto parts company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.06). The firm had revenue of $283.64 million during the quarter, compared to analyst estimates of $284.06 million. Monro Muffler Brake had a net margin of 0.07% and a negative return on equity of 0.35%. Monro Muffler Brake’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 earnings per share. On average, research analysts expect that Monro Muffler Brake will post 0.08 EPS for the current fiscal year.

Monro Muffler Brake Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 25th were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 9.4%. Monro Muffler Brake’s payout ratio is presently 509.09%.

Institutional Investors Weigh In On Monro Muffler Brake

Large investors have recently modified their holdings of the stock. Sound Income Strategies LLC boosted its position in Monro Muffler Brake by 455.3% during the 1st quarter. Sound Income Strategies LLC now owns 3,282 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 2,691 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Monro Muffler Brake during the 3rd quarter worth $77,000. Stillwater Wealth Management Group bought a new position in Monro Muffler Brake during the 3rd quarter worth $162,000. Baird Financial Group Inc. acquired a new stake in Monro Muffler Brake in the second quarter worth $207,000. Finally, Penn Capital Management Company LLC increased its position in Monro Muffler Brake by 31.9% in 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 buying an additional 15,146 shares during the period.

About Monro Muffler Brake

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.