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

Key Points

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Mister Car Wash (NYSE:MCW - Get Free Report) had its price objective reduced by equities researchers at UBS Group from $8.25 to $7.25 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price target would indicate a potential upside of 26.97% from the company's previous close.

A number of other analysts have also weighed in on MCW. The Goldman Sachs Group started coverage on shares of Mister Car Wash in a research report on Tuesday, June 3rd. They issued a "sell" rating and a $6.25 target price on the stock. BTIG Research began coverage on shares of Mister Car Wash in a report on Monday, June 30th. They issued a "neutral" rating on the stock. Stephens dropped their target price on shares of Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price target on shares of 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Mister Car Wash presently has an average rating of "Hold" and an average price target of $8.00.

Mister Car Wash Price Performance

NYSE:MCW traded down $0.07 during mid-day trading on Thursday, reaching $5.71. The stock had a trading volume of 2,985,771 shares, compared to its average volume of 1,597,432. The stock has a 50-day simple moving average of $6.45 and a two-hundred day simple moving average of $7.21. The stock has a market capitalization of $1.85 billion, a PE ratio of 25.96, a P/E/G ratio of 1.65 and a beta of 1.49. 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 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 announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). The firm had revenue of $265.42 million during 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 business's revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.11 earnings per share. On average, equities analysts anticipate that Mister Car Wash will post 0.33 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Jedidiah Marc Gold sold 6,357 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $6.13, for a total value of $38,968.41. Following the sale, the chief financial officer owned 75,637 shares in the company, valued at $463,654.81. This represents a 7.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Lo-Minn Lai sold 33,904 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $6.13, for a total transaction of $207,831.52. Following the completion of the sale, the chief executive officer owned 4,578,350 shares in the company, valued at $28,065,285.50. This represents a 0.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 266,355 shares of company stock worth $1,733,596 over the last ninety days. Insiders own 69.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew 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 valued at $34,000 after acquiring an additional 2,632 shares during the period. Quantinno Capital Management LP bought a new position in shares of Mister Car Wash during the 4th quarter valued at approximately $77,000. Quarry LP bought a new position in shares of Mister Car Wash during the 4th 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, Wealth Enhancement Advisory Services LLC bought a new position in Mister Car Wash in the 2nd quarter worth approximately $91,000.

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.