Mister Car Wash (NYSE:MCW) Price Target Cut to $8.00 by Analysts at Morgan Stanley

Mister Car Wash (NYSE:MCW) had its price objective lowered by Morgan Stanley from $9.00 to $8.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

MCW has been the topic of a number of other reports. Stephens initiated coverage on shares of Mister Car Wash in a research report on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 price target on the stock. Wells Fargo & Company cut their price objective 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, UBS Group upped their price target on shares of Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Mister Car Wash presently has an average rating of “Hold” and a consensus price target of $8.81.

Mister Car Wash Price Performance

Shares of NYSE:MCW opened at $7.24 on Tuesday. Mister Car Wash has a one year low of $5.84 and a one year high of $9.45. The stock has a market cap of $2.33 billion, a PE ratio of 31.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.61. The business’s fifty day moving average price is $7.49 and its two-hundred day moving average price is $7.05. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.24 and a current ratio of 0.27.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings data 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 return on equity of 9.92% and a net margin of 7.54%. The business had revenue of $249.33 million for the quarter, compared to analysts’ expectations of $249.15 million. During the same quarter last year, the firm earned $0.06 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. On average, analysts forecast that Mister Car Wash will post 0.29 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Mister Car Wash

Several hedge funds have recently modified their holdings of MCW. Arkadios Wealth Advisors increased its position in Mister Car Wash by 13.3% in the fourth quarter. Arkadios Wealth Advisors now owns 48,640 shares of the company’s stock worth $355,000 after purchasing an additional 5,702 shares during the period. Blue Trust Inc. grew its position in shares of Mister Car Wash by 884.7% during the 3rd quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock worth $60,000 after buying an additional 7,617 shares during the period. Handelsbanken Fonder AB raised its position in shares of Mister Car Wash by 26.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 43,100 shares of the company’s stock valued at $281,000 after acquiring an additional 9,100 shares during the last quarter. Ariadne Wealth Management LP acquired a new position in shares of Mister Car Wash in the 2nd quarter valued at $73,000. Finally, Victory Capital Management Inc. boosted its position in shares of Mister Car Wash by 19.5% in the 3rd quarter. Victory Capital Management Inc. now owns 63,576 shares of the company’s stock worth $414,000 after purchasing an additional 10,377 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.