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

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

Separately, UBS Group boosted their price target 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Mister Car Wash currently has a consensus rating of “Moderate Buy” and an average target price of $9.08.

Mister Car Wash Stock Performance

MCW stock opened at $7.10 on Monday. 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 $2.29 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 1.95 and a beta of 1.61. 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’s fifty day moving average is $7.66 and its two-hundred day moving average is $7.04.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.09 earnings per share for the quarter, beating 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 the consensus estimate of $249.15 million. During the same period last year, the firm posted $0.06 EPS. Mister Car Wash’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts predict that Mister Car Wash will post 0.29 EPS for the current year.

Insider Activity at Mister Car Wash

In related news, CFO Jedidiah Marc Gold sold 144,319 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $7.54, for a total transaction of $1,088,165.26. Following the completion of the sale, the chief financial officer now directly owns 44,854 shares in the company, valued at approximately $338,199.16. This trade represents a 76.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 $647,211.82. This represents a 15.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 613,896 shares of company stock valued at $4,957,139 over the last 90 days. 70.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Mister Car Wash

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of Mister Car Wash by 884.7% during the third quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock valued at $60,000 after acquiring an additional 7,617 shares during the period. Ariadne Wealth Management LP acquired a new stake in Mister Car Wash during the 2nd quarter valued at $73,000. CIBC Asset Management Inc purchased a new stake in shares of Mister Car Wash in the second quarter valued at $91,000. Sanctuary Advisors LLC acquired a new stake in shares of Mister Car Wash in the second quarter worth $112,000. Finally, 272 Capital LP purchased a new position in shares of Mister Car Wash during the second quarter valued at $119,000.

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.