Monro Muffler Brake, Inc. (MNRO) stock plummeted 5.34% in the intraday trading session on Thursday, following the company's disappointing fiscal third-quarter results and guidance cut.
The automotive repair and tire company reported lower-than-expected earnings and revenue for the quarter ended December 24, 2022. The company also lowered its full-year guidance, citing weaker consumer demand due to inflationary pressures.
Analysts at Wedbush, while maintaining an Outperform rating on the stock, cut their price target to $27 from $31. Wedbush noted some encouraging signs in the quarter, such as improved comparable store sales and tire unit sales. However, the firm acknowledged the short-term pressure on sales due to the challenging macroeconomic environment.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。