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

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 lowered by analysts at Mizuho from $11.00 to $9.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's price target would suggest a potential upside of 60.86% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the stock. Guggenheim decreased their price target on shares of Mister Car Wash from $9.50 to $8.00 and set a "buy" rating for the company in a report on Monday. Morgan Stanley lowered their target price on Mister Car Wash from $9.00 to $7.50 and set an "equal weight" rating on the stock in a report on Thursday. The Goldman Sachs Group started coverage on Mister Car Wash in a research report on Tuesday, June 3rd. They issued a "sell" rating and a $6.25 price target on the stock. BTIG Research assumed coverage on shares of Mister Car Wash in a research note on Monday, June 30th. They issued a "neutral" rating on the stock. Finally, Piper Sandler dropped their target price on shares of Mister Car Wash from $11.00 to $8.00 and set an "overweight" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $8.09.

Mister Car Wash Stock Down 2.0%

Shares of MCW stock traded down $0.12 on Monday, hitting $5.60. The company's stock had a trading volume of 1,025,387 shares, compared to its average volume of 1,593,276. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 1.65 and a beta of 1.49. Mister Car Wash has a fifty-two week low of $5.27 and a fifty-two week high of $8.60. The firm's fifty day moving average price is $6.45 and its 200-day moving average price is $7.22. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24.

Mister Car Wash (NYSE:MCW - Get Free Report) last announced its quarterly 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 during the quarter, compared to analyst estimates 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 prior year, the firm earned $0.11 EPS. Research analysts anticipate that Mister Car Wash will post 0.33 EPS for the current year.

Insider Activity

In related news, Director Veronica Rogers sold 5,205 shares of the 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 in the company, valued at $196,832.80. This trade represents a 15.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the transaction, the chief executive officer owned 4,532,254 shares in the company, valued at approximately $30,320,779.26. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 266,355 shares of company stock valued at $1,733,596. 69.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MCW. GAMMA Investing LLC grew its holdings in Mister Car Wash by 87.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,645 shares of the company's stock worth $34,000 after acquiring an additional 2,632 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of Mister Car Wash during the fourth quarter valued at approximately $77,000. Quarry LP acquired a new stake in shares of Mister Car Wash in the fourth quarter valued at approximately $79,000. Forum Financial Management LP bought a new position in Mister Car Wash in the 4th quarter worth approximately $81,000. Finally, BNP Paribas Financial Markets acquired a new position in Mister Car Wash during the 4th quarter worth $96,000.

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.

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