Mister Car Wash (NYSE:MCW) Price Target Cut to $10.00

Mister Car Wash (NYSE:MCW) had its target price cut by Wells Fargo & Company from $11.00 to $10.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently weighed in on the company. Robert W. Baird boosted their target price on Mister Car Wash from $10.00 to $12.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. assumed coverage on Mister Car Wash in a research note on Friday, February 16th. They issued a neutral rating and a $9.50 price objective on the stock. Finally, Mizuho assumed coverage on Mister Car Wash in a research note on Tuesday, March 19th. They issued a buy rating and a $11.00 price objective on the stock. One equities 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $9.85.

Mister Car Wash Stock Performance

Shares of MCW opened at $6.86 on Monday. Mister Car Wash has a 52 week low of $4.80 and a 52 week high of $10.07. The stock has a 50 day moving average price of $7.48 and a two-hundred day moving average price of $7.52. The firm has a market capitalization of $2.18 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.28 and a beta of 1.65. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.31 and a current ratio of 0.36.

Mister Car Wash (NYSE:MCW) last announced its earnings results on Wednesday, February 21st. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Mister Car Wash had a return on equity of 9.81% and a net margin of 8.64%. The business had revenue of $230.14 million during the quarter, compared to analysts’ expectations of $230.89 million. Equities analysts forecast that Mister Car Wash will post 0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mister Car Wash news, 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 sale, the chief operating officer now owns 270,523 shares in the company, valued at $1,907,187.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Jedidiah Marc Gold sold 4,857 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $7.69, for a total value of $37,350.33. Following the transaction, the chief financial officer now owns 33,933 shares of the company’s stock, valued at $260,944.77. 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 company’s 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 completion of the transaction, the chief operating officer now directly owns 270,523 shares in the company, valued at approximately $1,907,187.15. The disclosure for this sale can be found here. Insiders have sold a total of 104,161 shares of company stock worth $824,667 over the last 90 days. Corporate insiders own 71.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. ORG Partners LLC bought a new position in shares of Mister Car Wash in the fourth quarter worth $43,000. SG Americas Securities LLC bought a new position in shares of Mister Car Wash in the third quarter worth $73,000. CenterBook Partners LP bought a new position in shares of Mister Car Wash in the third quarter worth $80,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Mister Car Wash by 57.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,795 shares of the company’s stock worth $93,000 after purchasing an additional 6,103 shares during the period. Finally, Pathstone Family Office LLC increased its stake in Mister Car Wash by 59.2% in the third quarter. Pathstone Family Office LLC now owns 19,318 shares of the company’s stock valued at $106,000 after acquiring an additional 7,187 shares during the last quarter.

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.