Wells Fargo & Company Lowers Mister Car Wash (NYSE:MCW) Price Target to $9.00

Mister Car Wash (NYSE:MCW) had its price target lowered by equities research analysts at Wells Fargo & Company from $10.00 to $9.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 26.58% from the company’s previous close.

Separately, UBS Group raised their target price on shares of Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Mister Car Wash has an average rating of “Moderate Buy” and an average price target of $9.08.

Mister Car Wash Trading Up 0.1 %

MCW stock traded up $0.01 during midday trading on Monday, reaching $7.11. The stock had a trading volume of 34,836 shares, compared to its average volume of 696,896. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96. Mister Car Wash has a twelve month low of $5.84 and a twelve month high of $9.45. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 1.95 and a beta of 1.61. The business has a fifty day simple moving average of $7.65 and a two-hundred day simple moving average of $7.04.

Mister Car Wash (NYSE:MCW) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $249.33 million for the quarter, compared to analysts’ expectations of $249.15 million. Mister Car Wash had a net margin of 7.54% and a return on equity of 9.92%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. As a group, research analysts expect that Mister Car Wash will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph Duane Matheny sold 14,600 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $7.97, for a total transaction of $116,362.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jedidiah Marc Gold sold 144,319 shares of the 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 in the company, valued at $338,199.16. This represents a 76.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 613,896 shares of company stock valued at $4,957,139 in the last three months. 70.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mister Car Wash

A number of large investors have recently modified their holdings of MCW. AQR Capital Management LLC lifted its position in shares of Mister Car Wash by 763.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock worth $29,155,000 after buying an additional 3,640,862 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Mister Car Wash by 6,003.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock worth $23,639,000 after buying an additional 3,571,675 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Mister Car Wash by 41.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock valued at $16,349,000 after buying an additional 731,366 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mister Car Wash by 64.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock valued at $9,752,000 after buying an additional 535,873 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of Mister Car Wash by 200.9% during the third quarter. Verition Fund Management LLC now owns 514,467 shares of the company’s stock worth $3,349,000 after acquiring an additional 343,512 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.