Mister Car Wash (NYSE:MCW) Price Target Cut to $9.00 by Analysts at Wells Fargo & Company

Mister Car Wash (NYSE:MCW - Free Report) had its price objective lowered by Wells Fargo & Company from $10.00 to $9.00 in a research report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Separately, UBS Group upped their price objective 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 analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Mister Car Wash currently has a consensus rating of "Moderate Buy" and an average target price of $9.08.

Mister Car Wash Stock Performance

Shares of NYSE:MCW remained flat at $7.10 during trading hours on Monday. 707,601 shares of the company's stock traded hands, compared to its average volume of 923,767. The firm has a fifty day moving average price of $7.66 and a two-hundred day moving average price of $7.04. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth ratio of 1.95 and a beta of 1.61. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.27 and a quick ratio of 0.24. Mister Car Wash has a 12 month low of $5.84 and a 12 month high of $9.45.

Mister Car Wash (NYSE:MCW - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Mister Car Wash had a return on equity of 9.92% and a net margin of 7.54%. The firm had revenue of $249.33 million for the quarter, compared to analysts' expectations of $249.15 million. During the same period last year, the firm earned $0.06 EPS. The firm's revenue was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Mister Car Wash will post 0.29 EPS for the current year.

Insider Buying and Selling

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 66,122 shares of Mister Car Wash stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $8.51, for a total value of $562,698.22. Following the transaction, the chief financial officer now owns 44,854 shares in the company, valued at approximately $381,707.54. The trade was a 59.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Duane Matheny sold 23,697 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $7.97, for a total value of $188,865.09. Following the sale, the insider now owns 81,206 shares of the company's stock, valued at $647,211.82. This trade represents a 22.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 613,896 shares of company stock valued at $4,957,139 over the last three months. Company insiders own 70.00% of the company's stock.

Institutional Trading of Mister Car Wash

Several institutional investors and hedge funds have recently bought and sold shares of MCW. Brown Brothers Harriman & Co. increased its position in shares of Mister Car Wash by 41.1% in the third quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company's stock worth $16,349,000 after acquiring an additional 731,366 shares in the last quarter. Barclays PLC grew its position in Mister Car Wash by 281.2% during the 3rd quarter. Barclays PLC now owns 179,013 shares of the company's stock worth $1,165,000 after purchasing an additional 132,051 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake 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 valued at $23,639,000 after purchasing an additional 3,571,675 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Mister Car Wash by 763.2% in the second quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company's stock valued at $29,155,000 after purchasing an additional 3,640,862 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Mister Car Wash by 23.6% in the second quarter. Bank of New York Mellon Corp now owns 762,363 shares of the company's stock worth $5,428,000 after buying an additional 145,374 shares during the period.

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.