Mister Car Wash (NYSE:MCW) Cut to “Neutral” at Piper Sandler

Piper Sandler downgraded shares of Mister Car Wash (NYSE:MCW) from an overweight rating to a neutral rating in a report issued on Friday, MarketBeat reports. The firm currently has $6.00 price target on the stock, down from their prior price target of $8.00.

A number of other research firms also recently commented on MCW. Wells Fargo & Company decreased their price target on Mister Car Wash from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. UBS Group decreased their price objective on Mister Car Wash from $8.25 to $7.25 and set a “neutral” rating for the company in a report on Thursday, July 31st. BMO Capital Markets reduced their price target on shares of Mister Car Wash from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, August 1st. Mizuho cut their price objective on Mister Car Wash from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Monday, August 4th. Finally, Stifel Nicolaus reduced their price target on shares of Mister Car Wash from $8.50 to $7.50 and set a “hold” rating for the company in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Mister Car Wash currently has a consensus rating of “Hold” and an average target price of $7.82.

Mister Car Wash Price Performance

MCW stock opened at $5.03 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53. Mister Car Wash has a 1 year low of $4.61 and a 1 year high of $8.60. The stock has a 50-day simple moving average of $5.36 and a 200-day simple moving average of $6.23. The firm has a market cap of $1.65 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 1.65 and a beta of 1.46.

Mister Car Wash (NYSE:MCW) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm had revenue of $265.42 million for the quarter, compared to analyst estimates of $271.83 million. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. Mister Car Wash’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 earnings per share. Mister Car Wash has set its FY 2025 guidance at 0.420-0.430 EPS. On average, equities analysts predict that Mister Car Wash will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mister Car Wash

Institutional investors have recently bought and sold shares of the stock. Avory & Company LLC boosted its holdings in shares of Mister Car Wash by 3,298.5% during the 1st quarter. Avory & Company LLC now owns 791,949 shares of the company’s stock worth $6,248,000 after buying an additional 768,646 shares during the period. Trexquant Investment LP bought a new stake in shares of Mister Car Wash in the 1st quarter worth about $550,000. Brown Advisory Inc. boosted its holdings in shares of Mister Car Wash by 6.8% in the 1st quarter. Brown Advisory Inc. now owns 13,291,516 shares of the company’s stock worth $104,870,000 after acquiring an additional 843,225 shares in the last quarter. Calamos Advisors LLC acquired a new position in Mister Car Wash in the first quarter worth $314,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Mister Car Wash during the first quarter worth approximately $6,863,000.

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.