Mister Car Wash, Inc. (NYSE:MCW) Receives $11.50 Average Target Price from Brokerages

Mister Car Wash, Inc. (NYSE:MCWGet Rating) has been given an average rating of “Hold” by the nine research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $11.50.

MCW has been the subject of a number of research reports. UBS Group lowered their target price on Mister Car Wash to $11.00 in a research note on Wednesday, November 16th. Morgan Stanley cut Mister Car Wash from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $16.00 to $11.00 in a report on Friday, August 12th. MKM Partners assumed coverage on Mister Car Wash in a report on Tuesday, October 4th. They set a “neutral” rating and a $9.00 target price on the stock. Robert W. Baird assumed coverage on Mister Car Wash in a report on Monday, October 3rd. They set a “neutral” rating and a $10.00 target price on the stock. Finally, Stifel Nicolaus cut Mister Car Wash from a “buy” rating to a “hold” rating and reduced their target price for the stock from $17.00 to $10.00 in a report on Friday, October 21st.

Insider Transactions at Mister Car Wash

In other news, VP Casey Penn Lindsay sold 142,127 shares of the firm’s stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $8.73, for a total transaction of $1,240,768.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 71.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mister Car Wash

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in Mister Car Wash in the 2nd quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. raised its position in Mister Car Wash by 119.8% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,838 shares of the company’s stock valued at $33,000 after buying an additional 2,092 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of Mister Car Wash during the 3rd quarter worth approximately $45,000. MetLife Investment Management LLC acquired a new position in shares of Mister Car Wash during the 1st quarter worth approximately $63,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Mister Car Wash during the 3rd quarter worth approximately $70,000.

Mister Car Wash Stock Performance

Shares of NYSE:MCW opened at $9.44 on Tuesday. Mister Car Wash has a twelve month low of $7.80 and a twelve month high of $19.82. The firm has a market cap of $2.87 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.73 and a current ratio of 0.79. The business has a fifty day moving average of $9.05 and a 200-day moving average of $10.57.

Mister Car Wash (NYSE:MCWGet Rating) last announced its earnings results on Thursday, November 10th. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. Mister Car Wash had a return on equity of 16.69% and a net margin of 15.40%. The company had revenue of $217.58 million during the quarter, compared to analyst estimates of $215.68 million. On average, equities research analysts predict that Mister Car Wash will post 0.33 EPS for the current fiscal year.

About Mister Car Wash

(Get Rating)

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. As of June 16, 2022, it operated 407 car wash locations in 21 states. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.

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