Mister Car Wash (NYSE:MCW) Price Target Cut to $9.00 by Analysts at Wells Fargo & Company

Mister Car Wash (NYSE:MCW) had its target price reduced by Wells Fargo & Company from $10.00 to $9.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Separately, UBS Group upped their price objective on shares of Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Mister Car Wash currently has an average rating of “Moderate Buy” and an average target price of $9.08.

Mister Car Wash Trading Down 0.4 %

Shares of MCW stock opened at $7.04 on Monday. The business has a 50-day moving average of $7.68 and a 200 day moving average of $7.04. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.27 and a quick ratio of 0.24. Mister Car Wash has a 1-year low of $5.84 and a 1-year high of $9.45. The stock has a market capitalization of $2.27 billion, a PE ratio of 30.61, a P/E/G ratio of 1.95 and a beta of 1.61.

Mister Car Wash (NYSE:MCW) last issued its earnings results on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. Mister Car Wash had a net margin of 7.54% and a return on equity of 9.92%. The firm had revenue of $249.33 million for the quarter, compared to analysts’ expectations of $249.15 million. During the same quarter last year, the business earned $0.06 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Mister Car Wash will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jedidiah Marc Gold sold 144,319 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $7.54, for a total value of $1,088,165.26. Following the completion of the transaction, the chief financial officer now owns 44,854 shares of the company’s stock, valued at approximately $338,199.16. This represents a 76.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Duane Matheny sold 14,600 shares of Mister Car Wash stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $7.97, for a total value of $116,362.00. Following the sale, the insider now owns 81,206 shares in the company, valued at $647,211.82. This represents a 15.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 613,896 shares of company stock worth $4,957,139. 70.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in Mister Car Wash by 763.2% in the second quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock worth $29,155,000 after purchasing an additional 3,640,862 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Mister Car Wash by 6,003.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock worth $23,639,000 after purchasing an additional 3,571,675 shares in the last quarter. State Street Corp grew its stake in shares of Mister Car Wash by 1.9% in the 3rd quarter. State Street Corp now owns 3,375,939 shares of the company’s stock worth $21,977,000 after buying an additional 63,631 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Mister Car Wash by 41.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock valued at $16,349,000 after buying an additional 731,366 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Mister Car Wash by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,115,526 shares of the company’s stock valued at $13,775,000 after buying an additional 38,365 shares during the last quarter.

Mister Car Wash Company Profile

Mister Car Wash, Inc, together with its subsidiaries, provides conveyorized car wash services in the United States. It offers express exterior and interior cleaning services. The company serves individual retail and corporate customers. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.