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

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

MCW has been the subject of several other research reports. Robert W. Baird upped their price target on shares of Mister Car Wash from $10.00 to $12.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. initiated coverage on shares of Mister Car Wash in a research report on Friday, February 16th. They issued a neutral rating and a $9.50 price target for the company. Finally, Mizuho initiated coverage on shares of Mister Car Wash in a research report on Tuesday, March 19th. They issued a buy rating and a $11.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $9.85.

Mister Car Wash Price Performance

Mister Car Wash stock opened at $6.86 on Monday. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 2.28 and a beta of 1.65. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.36 and a quick ratio of 0.31. Mister Car Wash has a 1 year low of $4.80 and a 1 year high of $10.07. The firm has a 50-day moving average of $7.48 and a two-hundred day moving average of $7.52.

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

Insider Activity at Mister Car Wash

In related news, COO Mayra Idali Chimienti sold 35,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $7.05, for a total transaction of $246,750.00. Following the completion of the sale, the chief operating officer now owns 270,523 shares of the company’s stock, valued at $1,907,187.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Mister Car Wash news, insider Joseph Duane Matheny sold 37,152 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $8.93, for a total transaction of $331,767.36. Following the transaction, the insider now owns 75,515 shares in the company, valued at approximately $674,348.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mayra Idali Chimienti sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $7.05, for a total transaction of $246,750.00. Following the transaction, the chief operating officer now owns 270,523 shares in the company, valued at approximately $1,907,187.15. The disclosure for this sale can be found here. Insiders sold 104,161 shares of company stock valued at $824,667 over the last 90 days. Insiders own 71.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MCW. Brown Advisory Inc. increased its stake in Mister Car Wash by 14.4% during the 4th quarter. Brown Advisory Inc. now owns 13,535,668 shares of the company’s stock valued at $116,948,000 after purchasing an additional 1,706,435 shares in the last quarter. Wasatch Advisors LP increased its stake in Mister Car Wash by 9.6% during the 4th quarter. Wasatch Advisors LP now owns 16,156,000 shares of the company’s stock valued at $139,588,000 after purchasing an additional 1,409,892 shares in the last quarter. Woodson Capital Management LP increased its stake in Mister Car Wash by 80.5% during the 4th quarter. Woodson Capital Management LP now owns 2,700,000 shares of the company’s stock valued at $23,328,000 after purchasing an additional 1,203,863 shares in the last quarter. Rip Road Capital Partners LP acquired a new stake in shares of Mister Car Wash in the fourth quarter worth $4,798,000. Finally, Sea Cliff Partners Management LP purchased a new position in shares of Mister Car Wash during the fourth quarter worth $4,218,000.

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.