Morgan Stanley Lowers Mister Car Wash (NYSE:MCW) Price Target to $7.50

Key Points

• Morgan Stanley has lowered its target price for Mister Car Wash (NYSE:MCW) from $9.00 to $7.50, maintaining an "equal weight" rating, which suggests a potential upside of 40.13% from the current price.
• The company's recent earnings report showed it missed consensus estimates, with earnings per share of $0.11, below the expected $0.13, and revenue of $265.42 million, missing the $271.83 million forecast.
• Insiders have been selling shares, with CFO Jedidiah Marc Gold and another insider selling a significant number of shares recently, contributing to a total of 266,355 shares sold over the last 90 days.

Mister Car Wash (NYSE:MCW - Free Report) had its price objective decreased by Morgan Stanley from $9.00 to $7.50 in a research report released on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

MCW has been the topic of a number of other research reports. Piper Sandler dropped their price objective on shares of Mister Car Wash from $11.00 to $8.00 and set an "overweight" rating on the stock in a report on Thursday. Stifel Nicolaus decreased 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. 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 price objective on the stock. Stephens cut their price objective on shares of 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. Finally, UBS Group cut their price target 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $8.00.

Mister Car Wash Stock Down 1.0%

NYSE:MCW traded down $0.06 on Thursday, reaching $5.66. 139,890 shares of the stock traded hands, compared to its average volume of 1,587,124. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.65 and a beta of 1.49. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. Mister Car Wash has a 12 month low of $5.27 and a 12 month high of $8.60. The company's fifty day simple moving average is $6.45 and its 200 day simple moving average is $7.22.

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). The firm had revenue of $265.42 million for the quarter, compared to the consensus estimate of $271.83 million. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 earnings per share. Equities analysts predict that Mister Car Wash will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling at Mister Car Wash

In other news, Director Veronica Rogers sold 5,205 shares of Mister Car Wash stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $7.06, for a total transaction of $36,747.30. Following the transaction, the director owned 27,880 shares in the company, valued at $196,832.80. The trade was a 15.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mary Lyn Porter sold 6,303 shares of Mister Car Wash stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.69, for a total value of $42,167.07. Following the transaction, the insider owned 23,081 shares in the company, valued at approximately $154,411.89. This represents a 21.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 2,632 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of Mister Car Wash during the 4th quarter worth about $77,000. Quarry LP acquired a new stake in shares of Mister Car Wash during the 4th quarter worth about $79,000. Forum Financial Management LP acquired a new stake in shares of Mister Car Wash during the 4th quarter worth about $81,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Mister Car Wash during the 2nd quarter worth 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.