Piper Sandler Lowers Mister Car Wash (NYSE:MCW) Price Target to $8.00

Key Points

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Mister Car Wash (NYSE:MCW - Get Free Report) had its target price dropped by equities researchers at Piper Sandler from $11.00 to $8.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price objective points to a potential upside of 40.11% from the company's current price.

Several other analysts have also recently commented on the stock. Wells Fargo & Company dropped 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 research report on Friday, July 18th. UBS Group dropped their target price on shares of Mister Car Wash from $8.25 to $7.25 and set a "neutral" rating for the company in a research report on Thursday. The Goldman Sachs Group started coverage on shares of Mister Car Wash in a research report on Tuesday, June 3rd. They set a "sell" rating and a $6.25 target price for the company. Stephens decreased their price target on shares of 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. Finally, BTIG Research started coverage on shares of Mister Car Wash in a research report on Monday, June 30th. They issued a "neutral" rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Mister Car Wash currently has a consensus rating of "Hold" and an average price target of $8.00.

Mister Car Wash Trading Down 1.2%

MCW stock traded down $0.07 during trading on Thursday, hitting $5.71. The company had a trading volume of 2,985,771 shares, compared to its average volume of 1,597,432. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $6.45 and a 200-day moving average price of $7.21. Mister Car Wash has a 12 month low of $5.27 and a 12 month high of $8.60. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.65 and a beta of 1.49.

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 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 company had revenue of $265.42 million during the quarter, compared to the consensus estimate of $271.83 million. During the same quarter last year, the firm earned $0.11 EPS. The business's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, analysts predict that Mister Car Wash will post 0.33 earnings per share for the current year.

Insider Activity at Mister Car Wash

In related news, 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 completion of the sale, the insider directly owned 23,081 shares in the company, valued at approximately $154,411.89. This trade represents a 21.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Veronica Rogers sold 5,205 shares of the firm'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 completion of the sale, the director owned 27,880 shares of the company's stock, valued at $196,832.80. This trade represents a 15.73% 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. Corporate insiders own 69.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 2,632 shares during the period. Quantinno Capital Management LP bought a new position in Mister Car Wash in the 4th quarter valued at about $77,000. Quarry LP bought a new position in Mister Car Wash in the 4th quarter valued at about $79,000. Forum Financial Management LP bought a new position in Mister Car Wash in the 4th quarter valued at about $81,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Mister Car Wash in the 2nd quarter valued at about $91,000.

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.