Mister Car Wash (NYSE:MCW) PT Lowered to $10.00

Mister Car Wash (NYSE:MCW) had its target price cut by equities researchers at Wells Fargo & Company from $11.00 to $10.00 in a research report issued to clients and investors on Monday. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 50.15% from the stock’s current price.

MCW has been the topic of several other reports. Robert W. Baird lifted their price objective on shares of Mister Car Wash from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Mizuho initiated coverage on shares of Mister Car Wash in a report on Tuesday, March 19th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on shares of Mister Car Wash in a report on Friday, February 16th. They issued a “neutral” rating and a $9.50 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Mister Car Wash currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.85.

Mister Car Wash Trading Down 0.7 %

Shares of NYSE:MCW traded down $0.05 during trading on Monday, reaching $6.66. The company’s stock had a trading volume of 102,953 shares, compared to its average volume of 1,372,646. The firm’s 50 day simple moving average is $7.67 and its two-hundred day simple moving average is $7.51. The company has a current ratio of 0.36, a quick ratio of 0.31 and a debt-to-equity ratio of 1.00. Mister Car Wash has a 12 month low of $4.80 and a 12 month high of $10.07. The stock has a market capitalization of $2.12 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 2.13 and a beta of 1.65.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $230.14 million for the quarter, compared to the consensus estimate of $230.89 million. Mister Car Wash had a net margin of 8.64% and a return on equity of 9.81%. On average, research analysts predict that Mister Car Wash will post 0.28 EPS for the current fiscal year.

Insider Activity

In other news, CFO Jedidiah Marc Gold sold 4,857 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $7.69, for a total transaction of $37,350.33. Following the completion of the sale, the chief financial officer now owns 33,933 shares of the company’s stock, valued at $260,944.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Jedidiah Marc Gold sold 4,857 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $7.69, for a total value of $37,350.33. Following the transaction, the chief financial officer now directly owns 33,933 shares in the company, valued at approximately $260,944.77. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $8.98, for a total transaction of $667,249.92. Following the completion of the transaction, the insider now owns 75,515 shares in the company, valued at $678,124.70. The disclosure for this sale can be found here. Insiders have sold 178,465 shares of company stock valued at $1,491,916 over the last ninety days. 71.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mister Car Wash

Several large investors have recently made changes to their positions in MCW. Brown Advisory Inc. lifted its holdings in shares of Mister Car Wash by 14.4% in the 4th quarter. Brown Advisory Inc. now owns 13,535,668 shares of the company’s stock worth $116,948,000 after acquiring an additional 1,706,435 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Mister Car Wash by 9.6% during the 4th quarter. Wasatch Advisors LP now owns 16,156,000 shares of the company’s stock worth $139,588,000 after buying an additional 1,409,892 shares in the last quarter. Woodson Capital Management LP lifted its holdings in Mister Car Wash by 80.5% during the 4th quarter. Woodson Capital Management LP now owns 2,700,000 shares of the company’s stock worth $23,328,000 after buying an additional 1,203,863 shares in the last quarter. Rip Road Capital Partners LP acquired a new stake in Mister Car Wash during the 4th quarter worth approximately $4,798,000. Finally, Sea Cliff Partners Management LP acquired a new stake in Mister Car Wash during the 4th quarter worth approximately $4,218,000.

About Mister Car Wash

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.