Mister Car Wash (NYSE:MCW) PT Set at $8.00 by Guggenheim

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.

Guggenheim set a $8.00 target price on Mister Car Wash (NYSE:MCW - Free Report) in a report issued on Monday, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the company. BTIG Research began coverage on Mister Car Wash in a research note on Monday, June 30th. They set a "neutral" rating for the company. Piper Sandler decreased their target price on Mister Car Wash from $11.00 to $8.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. BMO Capital Markets lowered their price target on Mister Car Wash from $11.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Morgan Stanley reduced their price objective on Mister Car Wash from $9.00 to $7.50 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Finally, Stifel Nicolaus decreased their price objective on Mister Car Wash from $8.50 to $7.50 and set a "hold" rating on the stock in a report on Thursday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $8.09.

Mister Car Wash Price Performance

Shares of Mister Car Wash stock traded up $0.01 during trading hours on Monday, reaching $5.73. The stock had a trading volume of 1,056,314 shares, compared to its average volume of 1,596,023. The stock's 50 day moving average is $6.34 and its 200 day moving average is $7.18. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. Mister Car Wash has a twelve month low of $5.27 and a twelve month high of $8.60. The firm has a market capitalization of $1.88 billion, a PE ratio of 26.05, a PEG ratio of 1.65 and a beta of 1.48.

Mister Car Wash (NYSE:MCW - Get Free Report) last released its quarterly earnings results 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 business had revenue of $265.42 million during the quarter, compared to analyst estimates of $271.83 million. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. Equities analysts expect that Mister Car Wash will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Jedidiah Marc Gold sold 6,357 shares of Mister Car Wash stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $6.13, for a total transaction of $38,968.41. Following the transaction, the chief financial officer owned 75,637 shares in the company, valued at $463,654.81. The trade was a 7.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Veronica Rogers sold 5,205 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $7.06, for a total transaction of $36,747.30. Following the transaction, the director directly owned 27,880 shares in the company, valued at approximately $196,832.80. The trade was a 15.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 266,355 shares of company stock worth $1,733,596 over the last quarter. Corporate insiders own 69.00% of the company's stock.

Institutional Trading of Mister Car Wash

Hedge funds have recently made changes to their positions in the company. Driehaus Capital Management LLC purchased a new stake in shares of Mister Car Wash during the 1st quarter valued at approximately $12,415,000. Divisadero Street Capital Management LP acquired a new stake in Mister Car Wash during the fourth quarter worth $10,392,000. Marshall Wace LLP raised its position in Mister Car Wash by 103.5% in the fourth quarter. Marshall Wace LLP now owns 2,152,718 shares of the company's stock valued at $15,693,000 after purchasing an additional 1,094,751 shares during the period. Dimensional Fund Advisors LP raised its position in Mister Car Wash by 43.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company's stock valued at $22,895,000 after purchasing an additional 958,479 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Mister Car Wash by 25.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company's stock valued at $33,127,000 after purchasing an additional 912,944 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.