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

Mister Car Wash (NYSE:MCW) had its target price decreased by stock analysts at Wells Fargo & Company from $11.00 to $10.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 42.35% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Mizuho initiated coverage on shares of Mister Car Wash in a research report on Tuesday, March 19th. They issued a “buy” rating and a $11.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Mister Car Wash in a research report on Friday, February 16th. They set a “neutral” rating and a $9.50 price objective for the company. Finally, Robert W. Baird upped their price objective on shares of Mister Car Wash from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.85.

Mister Car Wash Stock Performance

NYSE MCW opened at $7.03 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.36 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $2.23 billion, a P/E ratio of 29.27, a P/E/G ratio of 2.13 and a beta of 1.65. Mister Car Wash has a 12-month low of $4.80 and a 12-month high of $10.07. The firm has a 50-day moving average price of $7.58 and a two-hundred day moving average price of $7.53.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $230.14 million during 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%. Analysts anticipate that Mister Car Wash will post 0.28 earnings per share for the current year.

Insider Activity

In other news, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $8.98, for a total value of $667,249.92. Following the sale, the insider now directly owns 75,515 shares of the company’s stock, valued at approximately $678,124.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $8.98, for a total value of $667,249.92. Following the sale, the insider now directly owns 75,515 shares of the company’s stock, valued at approximately $678,124.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Mayra Idali Chimienti sold 35,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $7.05, for a total transaction of $246,750.00. Following the transaction, the chief operating officer now directly owns 270,523 shares in the company, valued at $1,907,187.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,465 shares of company stock valued at $1,491,916. 71.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors LP raised its holdings in Mister Car Wash by 1.7% during the first quarter. Wasatch Advisors LP now owns 16,423,825 shares of the company’s stock worth $127,285,000 after buying an additional 267,825 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Mister Car Wash by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 10,082,581 shares of the company’s stock valued at $87,114,000 after purchasing an additional 315,679 shares during the last quarter. Rip Road Capital Partners LP purchased a new stake in Mister Car Wash during the fourth quarter worth about $4,798,000. Sea Cliff Partners Management LP purchased a new stake in Mister Car Wash during the fourth quarter worth about $4,218,000. Finally, Woodson Capital Management LP increased its holdings in Mister Car Wash by 80.5% during the fourth 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 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.