Mister Car Wash (NYSE:MCW) Given New $9.00 Price Target at Mizuho

Key Points

• Mizuho has reduced its target price for Mister Car Wash from $11.00 to $9.00, suggesting a potential upside of 60.86% from the current stock price.
• Other analysts have also lowered their price targets, with Guggenheim setting it at $8.00 and Morgan Stanley at $7.50, indicating a general trend of decreasing expectations for the stock.
• Mister Car Wash's shares are currently trading at $5.60, down 2.0% recently, and the company reported earnings per share of $0.11, missing estimates.

Mister Car Wash (NYSE:MCW - Get Free Report) had its target price dropped by stock analysts at Mizuho from $11.00 to $9.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's target price would suggest a potential upside of 56.11% from the company's previous close.

A number of other research firms have also recently issued reports on MCW. Stifel Nicolaus decreased their price objective on shares of Mister Car Wash from $8.50 to $7.50 and set a "hold" rating on the stock in a research report on Thursday, July 31st. Morgan Stanley reduced their price target on 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. Stephens cut their price objective on Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Piper Sandler reduced their target price on Mister Car Wash from $11.00 to $8.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Finally, Wells Fargo & Company dropped their price target on Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $8.09.

Mister Car Wash Trading Up 0.8%

MCW traded up $0.05 on Monday, hitting $5.77. 246,352 shares of the company were exchanged, compared to its average volume of 1,590,342. 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 firm has a fifty day simple moving average of $6.34 and a two-hundred day simple moving average of $7.18. The stock has a market capitalization of $1.89 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. Mister Car Wash has a 12 month low of $5.27 and a 12 month high of $8.60.

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

Insider Buying and Selling at Mister Car Wash

In related news, CEO John Lo-Minn Lai sold 41,997 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.69, for a total transaction of $280,959.93. Following the sale, the chief executive officer owned 4,532,254 shares of the company's stock, valued at $30,320,779.26. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Veronica Rogers sold 5,205 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was 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 in the company, valued at approximately $196,832.80. This trade represents a 15.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 266,355 shares of company stock valued at $1,733,596. Company insiders own 69.00% of the company's stock.

Hedge Funds Weigh In On Mister Car Wash

Large investors have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in Mister Car Wash by 22.6% during 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. Avory & Company LLC grew its holdings in shares of Mister Car Wash by 3,298.5% during the first quarter. Avory & Company LLC now owns 791,949 shares of the company's stock valued at $6,248,000 after buying an additional 768,646 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Mister Car Wash during the fourth quarter valued at approximately $577,000. Accurate Wealth Management LLC bought a new stake in shares of Mister Car Wash during the first quarter valued at approximately $983,000. Finally, Dimensional Fund Advisors LP raised its holdings in Mister Car Wash by 43.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company's stock worth $22,895,000 after acquiring an additional 958,479 shares during the last quarter.

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.