Mister Car Wash (NYSE:MCW) Given New $7.50 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus has reduced its target price for Mister Car Wash from $8.50 to $7.50, indicating a potential upside of 40.13% from the stock's previous close.
• Mister Car Wash's stock dropped 12.8% to $5.35, with significant trading volume of over 7 million shares.
• The company reported a miss in earnings per share, posting $0.11 against the expected $0.13, while revenue of $265.42 million fell short of analysts' expectations of $271.83 million.

Mister Car Wash (NYSE:MCW - Get Free Report) had its target price reduced by Stifel Nicolaus from $8.50 to $7.50 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 40.13% from the stock's previous close.

Several other research firms also recently weighed in on MCW. The Goldman Sachs Group assumed coverage on Mister Car Wash in a research note on Tuesday, June 3rd. They set a "sell" rating and a $6.25 price target on the stock. Stephens reduced their price target on Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating for the company in a report on Thursday, April 24th. BTIG Research started coverage on Mister Car Wash in a report on Monday, June 30th. They issued a "neutral" rating for the company. Piper Sandler reduced their target price on Mister Car Wash from $11.00 to $8.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Wells Fargo & Company cut their price target on Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating for the company in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $7.88.

Mister Car Wash Stock Down 12.8%

Shares of MCW traded down $0.79 during trading hours on Thursday, hitting $5.35. The company had a trading volume of 7,122,887 shares, compared to its average volume of 1,552,422. The company has a market capitalization of $1.74 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 1.65 and a beta of 1.49. 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 one year low of $5.27 and a one year high of $8.60. The company's fifty day moving average price is $6.51 and its two-hundred day moving average price is $7.23.

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

Insider Transactions at Mister Car Wash

In other Mister Car Wash news, insider Mary Lyn Porter sold 6,303 shares of the firm'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 $42,167.07. Following the sale, the insider directly owned 23,081 shares in the company, valued at $154,411.89. This trade represents a 21.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Veronica Rogers sold 5,205 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $7.06, for a total value of $36,747.30. Following the completion of the sale, the director owned 27,880 shares in the company, valued at approximately $196,832.80. This represents a 15.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 266,355 shares of company stock valued at $1,733,596 in the last 90 days. Insiders own 69.00% of the company's stock.

Institutional Trading of Mister Car Wash

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bleakley Financial Group LLC grew its holdings in shares of Mister Car Wash by 50.9% during the second quarter. Bleakley Financial Group LLC now owns 165,583 shares of the company's stock worth $995,000 after buying an additional 55,853 shares during the last quarter. CWM LLC raised its position in shares of Mister Car Wash by 44.0% during the 2nd quarter. CWM LLC now owns 27,323 shares of the company's stock worth $164,000 after purchasing an additional 8,347 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Mister Car Wash during the 2nd quarter worth approximately $108,000. State of Alaska Department of Revenue raised its position in shares of Mister Car Wash by 8.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 56,027 shares of the company's stock worth $336,000 after purchasing an additional 4,246 shares during the last quarter. Finally, Accurate Wealth Management LLC raised its holdings in Mister Car Wash by 21.7% in the 2nd quarter. Accurate Wealth Management LLC now owns 151,686 shares of the company's stock valued at $912,000 after acquiring an additional 27,091 shares during 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.

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