Piper Sandler Has Lowered Expectations for Mister Car Wash (NYSE:MCW) Stock Price

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Mister Car Wash (NYSE:MCW - Get Free Report) had its price objective cut by equities researchers at Piper Sandler from $11.00 to $8.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price objective would suggest a potential upside of 41.59% from the company's current price.

Several other research analysts have also commented on the stock. UBS Group reduced 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. The Goldman Sachs Group started coverage on Mister Car Wash in a research report on Tuesday, June 3rd. They set a "sell" rating and a $6.25 target price on the stock. Wells Fargo & Company lowered 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. Stephens lowered their target price 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, BTIG Research initiated coverage on Mister Car Wash in a research report on Monday, June 30th. They issued a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Mister Car Wash currently has a consensus rating of "Hold" and an average target price of $8.09.

Mister Car Wash Stock Down 1.1%

Shares of Mister Car Wash stock traded down $0.06 during trading on Thursday, hitting $5.65. 2,165,895 shares of the stock traded hands, compared to its average volume of 1,601,325. Mister Car Wash has a 52-week low of $5.27 and a 52-week high of $8.60. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The firm has a market cap of $1.84 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. The stock's fifty day simple moving average is $6.42 and its 200 day simple moving average is $7.21.

Mister Car Wash (NYSE:MCW - Get Free Report) last posted its 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 company had revenue of $265.42 million for the quarter, compared to analysts' expectations of $271.83 million. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. The firm's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. On average, equities analysts predict 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, CEO John Lo-Minn Lai sold 41,997 shares of the company'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 owned 4,532,254 shares in the company, valued at approximately $30,320,779.26. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mary Lyn Porter sold 6,303 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 $42,167.07. Following the sale, the insider 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 266,355 shares of company stock worth $1,733,596. Insiders own 69.00% of the company's stock.

Hedge Funds Weigh In On Mister Car Wash

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of Mister Car Wash by 87.4% in the second quarter. GAMMA Investing LLC now owns 5,645 shares of the company's stock valued at $34,000 after buying an additional 2,632 shares in the last quarter. Quantinno Capital Management LP acquired a new position in Mister Car Wash during the fourth quarter worth $77,000. Quarry LP purchased a new position in Mister Car Wash during the fourth quarter valued at $79,000. Forum Financial Management LP purchased a new position in Mister Car Wash during the fourth quarter valued at $81,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Mister Car Wash in the fourth quarter valued at about $96,000.

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.