Wells Fargo & Company Lowers Mister Car Wash (NYSE:MCW) Price Target to $8.00

Mister Car Wash (NYSE:MCW - Get Free Report) had its price objective cut by investment analysts at Wells Fargo & Company from $9.00 to $8.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 26.48% from the company's previous close.

A number of other research analysts have also issued reports on MCW. Stephens dropped their price objective on shares of Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating for the company in a report on Thursday, April 24th. UBS Group dropped their price objective on shares of Mister Car Wash from $8.50 to $8.25 and set a "neutral" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group assumed coverage on shares of Mister Car Wash in a report on Tuesday, June 3rd. They issued a "sell" rating and a $6.25 price objective for the company. Finally, BTIG Research assumed coverage on shares of Mister Car Wash in a report on Monday, June 30th. They issued a "neutral" rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Mister Car Wash presently has a consensus rating of "Hold" and an average target price of $8.33.

Mister Car Wash Stock Performance

Shares of NYSE:MCW traded down $0.17 on Friday, hitting $6.33. The company had a trading volume of 631,113 shares, compared to its average volume of 1,499,991. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average price of $6.72 and a 200 day moving average price of $7.28. Mister Car Wash has a 1-year low of $5.84 and a 1-year high of $8.60. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 1.65 and a beta of 1.49.

Mister Car Wash (NYSE:MCW - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. During the same period in the prior year, the firm earned $0.08 EPS. Mister Car Wash's quarterly revenue was up 9.4% on a year-over-year basis. Analysts expect that Mister Car Wash will post 0.33 EPS for the current year.

Insider Activity

In other Mister Car Wash news, CEO John Lo-Minn Lai sold 41,997 shares of the firm's stock in a transaction that occurred on 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Duane Matheny sold 102,456 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $6.30, for a total transaction of $645,472.80. Following the transaction, the insider owned 88,196 shares of the company's stock, valued at approximately $555,634.80. The trade was a 53.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 266,355 shares of company stock worth $1,733,596. 69.00% of the stock is owned by insiders.

Institutional Trading of Mister Car Wash

Large investors have recently modified their holdings of the stock. Bank of Montreal Can grew its position in shares of Mister Car Wash by 22.6% during the 4th quarter. Bank of Montreal Can now owns 14,380 shares of the company's stock worth $105,000 after buying an additional 2,649 shares during the period. Avory & Company LLC grew its position in shares of Mister Car Wash by 3,298.5% during the 1st quarter. Avory & Company LLC now owns 791,949 shares of the company's stock worth $6,248,000 after buying an additional 768,646 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Mister Car Wash during the 4th quarter worth approximately $945,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Mister Car Wash during the 4th quarter worth approximately $577,000. Finally, Accurate Wealth Management LLC acquired a new stake in shares of Mister Car Wash during the 1st quarter worth approximately $983,000.

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.

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