Wells Fargo & Company Issues Pessimistic Forecast for Mister Car Wash (NYSE:MCW) Stock Price

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

Separately, UBS Group increased their price target on shares of Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.08.

Mister Car Wash Stock Down 0.4 %

MCW opened at $7.07 on Monday. Mister Car Wash has a one year low of $5.84 and a one year high of $9.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.24 and a current ratio of 0.27. The stock has a market capitalization of $2.28 billion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.61. The business’s 50-day simple moving average is $7.67 and its 200-day simple moving average is $7.04.

Mister Car Wash (NYSE:MCW) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The company 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%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. Analysts anticipate that Mister Car Wash will post 0.29 EPS for the current year.

Insider Transactions at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 23,697 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $7.97, for a total transaction of $188,865.09. Following the transaction, the insider now directly owns 81,206 shares in the company, valued at $647,211.82. The trade was a 22.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jedidiah Marc Gold sold 144,319 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $7.54, for a total transaction of $1,088,165.26. Following the completion of the sale, the chief financial officer now owns 44,854 shares of the company’s stock, valued at approximately $338,199.16. The trade was a 76.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 613,896 shares of company stock worth $4,957,139 over the last 90 days. 70.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MCW. AQR Capital Management LLC boosted its position in shares of Mister Car Wash by 763.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock worth $29,155,000 after purchasing an additional 3,640,862 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Mister Car Wash by 6,003.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock worth $23,639,000 after buying an additional 3,571,675 shares in the last quarter. State Street Corp grew its position in Mister Car Wash by 1.9% during the third quarter. State Street Corp now owns 3,375,939 shares of the company’s stock worth $21,977,000 after buying an additional 63,631 shares during the period. Brown Brothers Harriman & Co. increased its holdings in Mister Car Wash by 41.1% in the third quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock valued at $16,349,000 after buying an additional 731,366 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Mister Car Wash by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,115,526 shares of the company’s stock valued at $13,775,000 after buying an additional 38,365 shares in the last quarter.

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.