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

Mister Car Wash (NYSE:MCW) had its price target cut by Wells Fargo & Company from $10.00 to $9.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 27.30% from the stock’s previous close.

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

Mister Car Wash Stock Down 0.4 %

Shares of NYSE MCW opened at $7.07 on Monday. The firm’s 50-day moving average is $7.67 and its two-hundred day moving average is $7.04. The company has a market capitalization of $2.28 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.61. Mister Car Wash has a 12-month low of $5.84 and a 12-month high of $9.45. 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 (NYSE:MCW) last posted its earnings results 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 analyst estimates of $249.15 million. Mister Car Wash had a return on equity of 9.92% and a net margin of 7.54%. Mister Car Wash’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. Equities analysts anticipate that Mister Car Wash will post 0.29 EPS for the current fiscal year.

Insider Activity

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 66,122 shares of Mister Car Wash stock in a transaction 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 $381,707.54. This trade represents a 59.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Duane Matheny sold 14,600 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $7.97, for a total value of $116,362.00. Following the sale, the insider now owns 81,206 shares of the company’s stock, valued at approximately $647,211.82. The trade was a 15.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 613,896 shares of company stock valued at $4,957,139 over the last quarter. Company insiders own 70.00% of the company’s stock.

Institutional Investors Weigh In On Mister Car Wash

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of Mister Car Wash by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 762,363 shares of the company’s stock valued at $5,428,000 after purchasing an additional 145,374 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Mister Car Wash by 19.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,673 shares of the company’s stock worth $190,000 after buying an additional 4,268 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Mister Car Wash in the second quarter worth $91,000. Rhumbline Advisers increased its holdings in Mister Car Wash by 22.7% in the 2nd quarter. Rhumbline Advisers now owns 255,813 shares of the company’s stock valued at $1,821,000 after purchasing an additional 47,271 shares in the last quarter. Finally, Savant Capital LLC raised its position in Mister Car Wash by 193.1% in the second quarter. Savant Capital LLC now owns 150,055 shares of the company’s stock valued at $1,068,000 after purchasing an additional 98,862 shares during the period.

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.