Wells Fargo & Company Lowers Mister Car Wash (NYSE:MCW) Price Target to $7.00

Mister Car Wash (NYSE:MCW) had its price target dropped by Wells Fargo & Company from $8.00 to $7.00 in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 35.66% from the company’s current price.

Several other research firms have also commented on MCW. Morgan Stanley dropped their price target on Mister Car Wash from $9.00 to $7.50 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. Guggenheim set a $8.00 price objective on shares of Mister Car Wash and gave the stock a “buy” rating in a research note on Monday, August 4th. Piper Sandler decreased their price objective on shares of Mister Car Wash from $11.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. Mizuho decreased their price objective 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 Monday, August 4th. Finally, Stifel Nicolaus decreased their price objective on shares of 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. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Mister Car Wash Trading Down 2.5%

MCW opened at $5.16 on Tuesday. The firm has a market cap of $1.69 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.65 and a beta of 1.46. Mister Car Wash has a 12 month low of $4.61 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 50-day moving average of $5.40 and a 200 day moving average of $6.27.

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

Hedge Funds Weigh In On Mister Car Wash

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