UBS Group Issues Pessimistic Forecast for Mister Car Wash (NYSE:MCW) Stock Price

Key Points

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Mister Car Wash (NYSE:MCW - Get Free Report) had its target price lowered by equities research analysts at UBS Group from $8.25 to $7.25 in a research note issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price target suggests a potential upside of 28.32% from the company's previous close.

Several other equities analysts have also weighed in on MCW. The Goldman Sachs Group started coverage on shares of Mister Car Wash in a report on Tuesday, June 3rd. They issued a "sell" rating and a $6.25 target price on the stock. Wells Fargo & Company decreased their price objective on Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Stephens lowered their price objective on Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating for the company in a research report 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 research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Mister Car Wash currently has an average rating of "Hold" and an average price target of $8.09.

Mister Car Wash Price Performance

NYSE MCW traded down $0.06 during trading hours on Thursday, hitting $5.65. 2,165,895 shares of the company's stock traded hands, compared to its average volume of 1,601,325. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24. The firm's 50-day moving average is $6.42 and its 200-day moving average is $7.21. The company has a market capitalization of $1.84 billion, a PE ratio of 25.68, a PEG ratio of 1.65 and a beta of 1.48. Mister Car Wash has a 52-week low of $5.27 and a 52-week high of $8.60.

Mister Car Wash (NYSE:MCW - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $271.83 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts forecast that Mister Car Wash will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO John Lo-Minn Lai sold 41,997 shares of Mister Car Wash stock in a transaction dated Monday, June 2nd. The stock was 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 trade represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Veronica Rogers sold 5,205 shares of the firm's stock in a transaction that occurred on 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 directly 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. Insiders sold a total of 266,355 shares of company stock worth $1,733,596 over the last 90 days. 69.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Mister Car Wash during the 4th quarter worth $1,217,000. American Century Companies Inc. lifted its holdings in Mister Car Wash by 21.5% during the 4th quarter. American Century Companies Inc. now owns 162,747 shares of the company's stock worth $1,186,000 after buying an additional 28,829 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Mister Car Wash during the 4th quarter worth about $128,000. LPL Financial LLC acquired a new position in shares of Mister Car Wash during the 4th quarter worth about $102,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Mister Car Wash by 136.0% in the 4th quarter. JPMorgan Chase & Co. now owns 276,533 shares of the company's stock valued at $2,016,000 after acquiring an additional 159,358 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.