Mister Car Wash (NYSE:MCW) Price Target Cut to $13.00

Mister Car Wash (NYSE:MCWGet Rating) had its price target reduced by research analysts at Piper Sandler from $18.00 to $13.00 in a report released on Friday, The Fly reports. Piper Sandler’s target price would suggest a potential upside of 7.26% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the stock. BMO Capital Markets reduced their price target on shares of Mister Car Wash from $25.00 to $23.00 in a research report on Friday, March 25th. Stifel Nicolaus raised shares of Mister Car Wash from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Friday, March 11th. William Blair started coverage on shares of Mister Car Wash in a research report on Wednesday, March 16th. They set an “outperform” rating on the stock. Finally, Morgan Stanley raised shares of Mister Car Wash from an “equal weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Tuesday, January 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $21.50.

Shares of MCW stock opened at $12.12 on Friday. Mister Car Wash has a 52-week low of $11.51 and a 52-week high of $24.49. The company has a quick ratio of 0.40, a current ratio of 0.45 and a debt-to-equity ratio of 1.39. The firm’s 50 day moving average price is $14.99 and its two-hundred day moving average price is $16.52.

Mister Car Wash (NYSE:MCWGet Rating) last announced its quarterly earnings data on Thursday, March 24th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Mister Car Wash had a negative net margin of 2.91% and a negative return on equity of 6.86%. The firm had revenue of $191.46 million for the quarter, compared to analysts’ expectations of $189.10 million. As a group, sell-side analysts expect that Mister Car Wash will post 0.41 earnings per share for the current fiscal year.

In other Mister Car Wash news, insider Casey Penn Lindsay sold 3,600 shares of Mister Car Wash stock in a transaction on Friday, March 18th. The shares were sold at an average price of $16.50, for a total value of $59,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 71.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY increased its stake in Mister Car Wash by 99.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 4,392 shares of the company’s stock valued at $80,000 after buying an additional 2,189 shares during the last quarter. First Mercantile Trust Co. increased its stake in Mister Car Wash by 82.7% in the 3rd quarter. First Mercantile Trust Co. now owns 5,663 shares of the company’s stock valued at $103,000 after buying an additional 2,563 shares during the last quarter. Citigroup Inc. increased its stake in Mister Car Wash by 19.9% in the 1st quarter. Citigroup Inc. now owns 15,536 shares of the company’s stock valued at $229,000 after buying an additional 2,583 shares during the last quarter. National Bank of Canada FI acquired a new stake in Mister Car Wash in the 4th quarter valued at $51,000. Finally, Deutsche Bank AG acquired a new stake in Mister Car Wash in the 3rd quarter valued at $52,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Mister Car Wash Company Profile (Get Rating)

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. As of December 31, 2021, it operated 396 car wash locations in 21 states. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.

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