Wells Fargo & Company Cuts Mister Car Wash (NYSE:MCW) Price Target to $10.00

Mister Car Wash (NYSE:MCW) had its price target lowered by Wells Fargo & Company from $11.00 to $10.00 in a research report released on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on MCW. Mizuho assumed coverage on shares of Mister Car Wash in a research note on Tuesday, March 19th. They issued a buy rating and a $11.00 price objective on the stock. Robert W. Baird raised their price target on shares of Mister Car Wash from $10.00 to $12.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. began coverage on shares of Mister Car Wash in a research report on Friday, February 16th. They set a neutral rating and a $9.50 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $9.85.

Mister Car Wash Trading Down 1.2 %

MCW opened at $6.95 on Monday. Mister Car Wash has a twelve month low of $4.80 and a twelve month high of $10.07. The company has a quick ratio of 0.31, a current ratio of 0.36 and a debt-to-equity ratio of 1.00. The company has a fifty day moving average of $7.53 and a 200-day moving average of $7.53. The stock has a market cap of $2.21 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 2.17 and a beta of 1.65.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Mister Car Wash had a return on equity of 9.81% and a net margin of 8.64%. The company had revenue of $230.14 million during the quarter, compared to analyst estimates of $230.89 million. On average, sell-side analysts predict that Mister Car Wash will post 0.28 EPS for the current year.

Insider Buying and Selling

In related news, COO Mayra Idali Chimienti sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $7.05, for a total transaction of $246,750.00. Following the sale, the chief operating officer now owns 270,523 shares of the company’s stock, valued at approximately $1,907,187.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Mister Car Wash news, insider Joseph Duane Matheny sold 37,152 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $8.93, for a total value of $331,767.36. Following the completion of the transaction, the insider now owns 75,515 shares of the company’s stock, valued at approximately $674,348.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Mayra Idali Chimienti sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $7.05, for a total transaction of $246,750.00. Following the completion of the transaction, the chief operating officer now directly owns 270,523 shares of the company’s stock, valued at approximately $1,907,187.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,161 shares of company stock valued at $824,667. Company insiders own 71.20% of the company’s stock.

Hedge Funds Weigh In On Mister Car Wash

A number of hedge funds and other institutional investors have recently bought and sold shares of MCW. Brown Advisory Inc. grew its stake in Mister Car Wash by 14.4% in the 4th quarter. Brown Advisory Inc. now owns 13,535,668 shares of the company’s stock worth $116,948,000 after buying an additional 1,706,435 shares in the last quarter. Wasatch Advisors LP grew its stake in Mister Car Wash by 9.6% in the 4th quarter. Wasatch Advisors LP now owns 16,156,000 shares of the company’s stock worth $139,588,000 after buying an additional 1,409,892 shares in the last quarter. Woodson Capital Management LP grew its stake in Mister Car Wash by 80.5% in the 4th quarter. Woodson Capital Management LP now owns 2,700,000 shares of the company’s stock worth $23,328,000 after buying an additional 1,203,863 shares in the last quarter. Rip Road Capital Partners LP purchased a new position in Mister Car Wash in the 4th quarter worth approximately $4,798,000. Finally, Sea Cliff Partners Management LP purchased a new stake in shares of Mister Car Wash in the 4th quarter valued at $4,218,000.

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.