Mister Car Wash (NYSE:MCW) Given New $8.00 Price Target at Morgan Stanley

Mister Car Wash (NYSE:MCW) had its price target dropped by equities research analysts at Morgan Stanley from $9.00 to $8.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 9.51% from the stock’s previous close.

MCW has been the topic of several other research reports. UBS Group boosted their price objective on Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company cut their price target on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Stephens began coverage on shares of Mister Car Wash in a report on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Mister Car Wash currently has a consensus rating of “Hold” and a consensus price target of $8.81.

Mister Car Wash Stock Up 2.6 %

MCW traded up $0.19 during mid-day trading on Tuesday, reaching $7.31. 178,005 shares of the stock were exchanged, compared to its average volume of 826,025. Mister Car Wash has a 1 year low of $5.84 and a 1 year high of $9.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.24 and a current ratio of 0.27. The stock has a market capitalization of $2.35 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 1.57 and a beta of 1.61. The company has a 50 day moving average price of $7.51 and a two-hundred day moving average price of $7.05.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $249.33 million during the quarter, compared to the consensus estimate of $249.15 million. During the same period in the prior year, the firm posted $0.06 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Mister Car Wash will post 0.29 EPS for the current year.

Insider Activity

In related news, insider Joseph Duane Matheny sold 14,600 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 81,206 shares in the company, valued at approximately $647,211.82. The trade was a 15.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jedidiah Marc Gold sold 144,319 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $7.54, for a total value of $1,088,165.26. Following the sale, the chief financial officer now owns 44,854 shares in the company, valued at $338,199.16. The trade was a 76.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 613,896 shares of company stock worth $4,957,139 over the last ninety days. Company insiders own 70.00% of the company’s stock.

Institutional Trading of Mister Car Wash

Hedge funds have recently bought and sold shares of the company. Arkadios Wealth Advisors lifted its holdings in shares of Mister Car Wash by 13.3% in the 4th quarter. Arkadios Wealth Advisors now owns 48,640 shares of the company’s stock worth $355,000 after acquiring an additional 5,702 shares during the last quarter. Blue Trust Inc. lifted its stake in Mister Car Wash by 884.7% in the third quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock worth $60,000 after purchasing an additional 7,617 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Mister Car Wash by 26.8% during the third quarter. Handelsbanken Fonder AB now owns 43,100 shares of the company’s stock valued at $281,000 after buying an additional 9,100 shares during the period. Ariadne Wealth Management LP bought a new position in shares of Mister Car Wash during the second quarter valued at about $73,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Mister Car Wash by 19.5% in the third quarter. Victory Capital Management Inc. now owns 63,576 shares of the company’s stock worth $414,000 after buying an additional 10,377 shares during the period.

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.