BMO Capital Markets Cuts Mister Car Wash (NYSE:MCW) Price Target to $9.00

Key Points

• BMO Capital Markets reduced Mister Car Wash's price target from $11.00 to $9.00 while maintaining an "outperform" rating, indicating a potential upside of 59.72% from the stock's previous close.
• The company reported earnings of $0.11 per share for the last quarter, falling short of the consensus estimate of $0.13, while revenue increased by 4.1% year-over-year.
• Insider selling activity includes significant sales from CEO John Lo-Minn Lai and insider Joseph Duane Matheny, reducing their stakes in the company.

Mister Car Wash (NYSE:MCW - Get Free Report) had its target price dropped by investment analysts at BMO Capital Markets from $11.00 to $9.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' price target would suggest a potential upside of 59.72% from the stock's current price.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus cut their price target on shares of Mister Car Wash from $8.50 to $7.50 and set a "hold" rating on the stock in a research note on Thursday, July 31st. Wells Fargo & Company reduced their target price on shares of Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Piper Sandler reduced their target price on shares of Mister Car Wash from $11.00 to $8.00 and set an "overweight" rating for the company in a report on Thursday, July 31st. UBS Group lowered their target price on shares of Mister Car Wash from $8.25 to $7.25 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Finally, Morgan Stanley lowered their target price on shares of Mister Car Wash from $9.00 to $7.50 and set an "equal weight" rating on the stock in a report on Thursday, July 31st. One research 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's stock. According to data from MarketBeat.com, Mister Car Wash currently has an average rating of "Hold" and an average target price of $8.09.

Mister Car Wash Trading Down 0.3%

Shares of NYSE MCW traded down $0.02 during midday trading on Friday, reaching $5.64. 323,148 shares of the stock were exchanged, compared to its average volume of 1,592,188. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53. The stock has a market capitalization of $1.83 billion, a P/E ratio of 25.61, a PEG ratio of 1.65 and a beta of 1.48. The company has a 50 day simple moving average of $6.42 and a 200 day simple moving average of $7.21. Mister Car Wash has a twelve month low of $5.27 and a twelve month high of $8.60.

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

Insider Buying and Selling

In other Mister Car Wash news, CEO John Lo-Minn Lai sold 41,997 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were 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 directly owned 4,532,254 shares in the company, valued at $30,320,779.26. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jedidiah Marc Gold sold 9,187 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.69, for a total transaction of $61,461.03. Following the sale, the chief financial officer owned 66,994 shares of the company's stock, valued at approximately $448,189.86. This represents a 12.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 266,355 shares of company stock worth $1,733,596. 69.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Mister Car Wash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCW. CWM LLC lifted its stake in shares of Mister Car Wash by 10.1% in the first quarter. CWM LLC now owns 18,976 shares of the company's stock worth $150,000 after buying an additional 1,748 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Mister Car Wash by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,791 shares of the company's stock valued at $392,000 after buying an additional 2,364 shares during the period. GAMMA Investing LLC boosted its stake in shares of Mister Car Wash by 87.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,645 shares of the company's stock valued at $34,000 after purchasing an additional 2,632 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Mister Car Wash by 22.6% in the 4th quarter. Bank of Montreal Can now owns 14,380 shares of the company's stock valued at $105,000 after purchasing an additional 2,649 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Mister Car Wash by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 58,298 shares of the company's stock valued at $425,000 after purchasing an additional 3,255 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.