Guggenheim Issues Pessimistic Forecast for Mister Car Wash (NYSE:MCW) Stock Price

Key Points

• Guggenheim has lowered its target price for Mister Car Wash from $9.50 to $8.00, indicating a potential upside of 42.07% from the stock's current price.
• Several other analysts have also reduced their price targets for Mister Car Wash, with Stifel Nicolaus setting a new target of $7.50 and UBS Group lowering theirs to $7.25.
• The company reported a quarterly earnings miss with $0.11 earnings per share, falling short of analysts' expectations of $0.13, and generated revenue of $265.42 million, below the expected $271.83 million.

Mister Car Wash (NYSE:MCW - Get Free Report) had its target price cut by investment analysts at Guggenheim from $9.50 to $8.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price objective points to a potential upside of 42.07% from the company's current price.

MCW has been the subject of several other reports. Stifel Nicolaus lowered 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. UBS Group decreased their target price on Mister Car Wash from $8.25 to $7.25 and set a "neutral" rating for the company in a report on Thursday. Piper Sandler cut their price target on shares of Mister Car Wash from $11.00 to $8.00 and set an "overweight" rating on the stock in a report on Thursday. Morgan Stanley lowered their price objective on shares of Mister Car Wash from $9.00 to $7.50 and set an "equal weight" rating for the company in a report on Thursday. Finally, Wells Fargo & Company cut their price objective on Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the 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 Price Performance

Shares of NYSE:MCW opened at $5.63 on Monday. Mister Car Wash has a one year low of $5.27 and a one year high of $8.60. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.65 and a beta of 1.49. The company's fifty day moving average price is $6.45 and its 200-day moving average price is $7.22.

Mister Car Wash (NYSE:MCW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). The firm had revenue of $265.42 million for the quarter, compared to analysts' expectations of $271.83 million. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. On average, equities research analysts anticipate that Mister Car Wash will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mister Car Wash news, insider Joseph Duane Matheny sold 102,456 shares of Mister Car Wash stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $6.30, for a total value of $645,472.80. Following the completion of the sale, the insider owned 88,196 shares of the company's stock, valued at approximately $555,634.80. This trade represents a 53.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Lo-Minn Lai sold 41,997 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.69, for a total value of $280,959.93. Following the completion of the transaction, the chief executive officer owned 4,532,254 shares of the company's stock, valued at $30,320,779.26. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 266,355 shares of company stock worth $1,733,596 in the last three months. Corporate insiders own 69.00% of the company's stock.

Institutional Trading of Mister Car Wash

Large investors have recently made changes to their positions in the stock. American Century Companies Inc. lifted its position in Mister Car Wash by 21.5% during the fourth quarter. American Century Companies Inc. now owns 162,747 shares of the company's stock valued at $1,186,000 after purchasing an additional 28,829 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Mister Car Wash in the fourth quarter worth $128,000. LPL Financial LLC purchased a new stake in Mister Car Wash during the fourth quarter valued at $102,000. JPMorgan Chase & Co. lifted its holdings in Mister Car Wash by 136.0% in the fourth quarter. JPMorgan Chase & Co. now owns 276,533 shares of the company's stock valued at $2,016,000 after acquiring an additional 159,358 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Mister Car Wash by 46.3% in the fourth quarter. Wells Fargo & Company MN now owns 49,395 shares of the company's stock worth $360,000 after purchasing an additional 15,640 shares during the last quarter.

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.

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