Mister Car Wash (NYSE:MCW) Price Target Cut to $8.00 by Analysts at Guggenheim

Mister Car Wash (NYSE:MCW) had its target price trimmed by Guggenheim from $9.50 to $8.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on MCW. The Goldman Sachs Group started coverage on Mister Car Wash in a report on Tuesday, June 3rd. They issued a “sell” rating and a $6.25 price objective for the company. Stifel Nicolaus lowered their target price on Mister Car Wash from $8.50 to $7.50 and set a “hold” rating for the company in a research note on Thursday, July 31st. BMO Capital Markets lowered their target price on Mister Car Wash from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday. UBS Group lowered their target price on Mister Car Wash from $8.25 to $7.25 and set a “neutral” rating for the company in a research note on Thursday, July 31st. Finally, Wells Fargo & Company lowered their target price on Mister Car Wash from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.09.

Mister Car Wash Price Performance

MCW opened at $5.65 on Monday. The stock has a 50-day moving average price of $6.42 and a 200-day moving average price of $7.21. Mister Car Wash has a 12-month low of $5.27 and a 12-month high of $8.60. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $1.84 billion, a P/E ratio of 25.68, a PEG ratio of 1.65 and a beta of 1.48.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. The firm had revenue of $265.42 million during the quarter, compared to analysts’ expectations of $271.83 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. Mister Car Wash’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts predict that Mister Car Wash will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 9,187 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.69, for a total transaction of $61,461.03. Following the completion of the transaction, the chief financial officer owned 66,994 shares of the company’s stock, valued at $448,189.86. This represents a 12.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mary Lyn Porter sold 6,303 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.69, for a total value of $42,167.07. Following the transaction, the insider directly owned 23,081 shares of the company’s stock, valued at $154,411.89. The trade was a 21.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 266,355 shares of company stock worth $1,733,596 over the last three months. 69.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arkadios Wealth Advisors raised its position in Mister Car Wash by 15.7% during the 2nd quarter. Arkadios Wealth Advisors now owns 146,528 shares of the company’s stock valued at $881,000 after purchasing an additional 19,864 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Mister Car Wash by 19.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 22,832 shares of the company’s stock worth $137,000 after acquiring an additional 3,766 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of Mister Car Wash by 50.9% in the 2nd quarter. Bleakley Financial Group LLC now owns 165,583 shares of the company’s stock worth $995,000 after acquiring an additional 55,853 shares in the last quarter. CWM LLC raised its position in shares of Mister Car Wash by 44.0% in the 2nd quarter. CWM LLC now owns 27,323 shares of the company’s stock worth $164,000 after acquiring an additional 8,347 shares in the last quarter. Finally, Global Trust Asset Management LLC bought a new position in shares of Mister Car Wash in the 2nd quarter worth approximately $108,000.

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.