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

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 price objective dropped by research analysts at Stifel Nicolaus from $8.50 to $7.50 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' price objective points to a potential upside of 32.63% from the company's current price.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company decreased their price target on shares of Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. The Goldman Sachs Group began coverage on shares of Mister Car Wash in a report on Tuesday, June 3rd. They issued a "sell" rating and a $6.25 price target on the stock. Piper Sandler decreased 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. Stephens cut their price objective on shares of Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, UBS Group cut their price objective on shares of Mister Car Wash from $8.25 to $7.25 and set a "neutral" rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Mister Car Wash has an average rating of "Hold" and a consensus price target of $8.00.

Mister Car Wash Price Performance

Mister Car Wash stock traded down $0.06 during midday trading on Thursday, reaching $5.66. 139,890 shares of the stock were exchanged, compared to its average volume of 1,587,124. The company's fifty day moving average is $6.45 and its 200-day moving average is $7.22. The firm has a market cap of $1.84 billion, a PE ratio of 25.71, a PEG ratio of 1.65 and a beta of 1.49. Mister Car Wash has a 52 week low of $5.27 and a 52 week high of $8.60. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53.

Mister Car Wash (NYSE:MCW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). The company had revenue of $265.42 million during the quarter, compared to the consensus estimate of $271.83 million. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. Mister Car Wash's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 EPS. On average, sell-side analysts forecast that Mister Car Wash will post 0.33 EPS for the current year.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 6,357 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $6.13, for a total transaction of $38,968.41. Following the completion of the sale, the chief financial officer owned 75,637 shares of the company's stock, valued at $463,654.81. This represents a 7.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mary Lyn Porter sold 6,303 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.69, for a total transaction of $42,167.07. Following the sale, the insider directly owned 23,081 shares of the company's stock, valued at $154,411.89. The trade was a 21.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 266,355 shares of company stock worth $1,733,596 over the last ninety days. 69.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mister Car Wash

Several institutional investors have recently added to or reduced their stakes in MCW. Raymond James Financial Inc. purchased a new stake in shares of Mister Car Wash in the 4th quarter worth about $1,217,000. American Century Companies Inc. lifted its position in shares of Mister Car Wash by 21.5% in the 4th quarter. American Century Companies Inc. now owns 162,747 shares of the company's stock worth $1,186,000 after purchasing an additional 28,829 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Mister Car Wash in the 4th quarter worth about $128,000. LPL Financial LLC purchased a new stake in shares of Mister Car Wash in the 4th quarter worth about $102,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Mister Car Wash by 136.0% in the 4th quarter. JPMorgan Chase & Co. now owns 276,533 shares of the company's stock worth $2,016,000 after purchasing an additional 159,358 shares during the period.

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.