Wedbush reaffirmed their outperform rating on shares of Monro (NASDAQ:MNRO – Free Report) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $31.00 price objective on the auto parts company’s stock.
Separately, Stephens assumed coverage on shares of Monro in a research report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 target price on the stock.
Check Out Our Latest Analysis on MNRO
Monro Trading Down 0.2 %
Monro (NASDAQ:MNRO – Get Free Report) last announced its earnings results on Wednesday, October 30th. The auto parts company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). The business had revenue of $301.39 million during the quarter, compared to analyst estimates of $300.06 million. Monro had a net margin of 2.24% and a return on equity of 4.77%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. Analysts expect that Monro will post 0.83 EPS for the current fiscal year.
Monro Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were given a $0.28 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 4.45%. Monro’s payout ratio is 128.74%.
Institutional Investors Weigh In On Monro
Several institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in Monro by 20.5% in the third quarter. Wellington Management Group LLP now owns 1,606,868 shares of the auto parts company’s stock valued at $46,374,000 after buying an additional 273,265 shares during the period. State Street Corp lifted its stake in shares of Monro by 0.8% in the 3rd quarter. State Street Corp now owns 1,344,978 shares of the auto parts company’s stock valued at $38,816,000 after purchasing an additional 11,265 shares during the period. Millennium Management LLC boosted its position in shares of Monro by 3,587.8% in the 2nd quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock worth $27,181,000 after purchasing an additional 1,108,292 shares during the last quarter. Geode Capital Management LLC increased its holdings in Monro by 2.5% in the third quarter. Geode Capital Management LLC now owns 823,250 shares of the auto parts company’s stock valued at $23,763,000 after purchasing an additional 20,420 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Monro by 78.9% in the second quarter. First Eagle Investment Management LLC now owns 254,900 shares of the auto parts company’s stock valued at $6,082,000 after buying an additional 112,400 shares during the period.
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.
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