Wells Fargo & Company Has Lowered Expectations for Mister Car Wash (NYSE:MCW) Stock Price

Mister Car Wash (NYSE:MCW - Get Free Report) had its target price reduced by equities research analysts at Wells Fargo & Company from $9.00 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 20.21% from the company's current price.

Several other analysts also recently weighed in on MCW. Stephens dropped their target price 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 target on shares of Mister Car Wash from $8.50 to $8.25 and set a "neutral" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group started coverage on shares of Mister Car Wash in a research note on Tuesday, June 3rd. They issued a "sell" rating and a $6.25 price target for the company. Finally, BTIG Research started coverage on shares of Mister Car Wash in a research note on Monday, June 30th. They issued a "neutral" rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.33.

Mister Car Wash Price Performance

MCW traded up $0.25 during trading on Friday, reaching $6.66. The company's stock had a trading volume of 614,308 shares, compared to its average volume of 1,493,562. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. The firm has a fifty day simple moving average of $6.70 and a two-hundred day simple moving average of $7.27. Mister Car Wash has a 1 year low of $5.84 and a 1 year high of $8.60. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 1.65 and a beta of 1.49.

Mister Car Wash (NYSE:MCW - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. Mister Car Wash's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS. As a group, analysts anticipate that Mister Car Wash will post 0.33 EPS for the current year.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, CEO John Lo-Minn Lai sold 41,997 shares of the 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 transaction, the chief executive officer owned 4,532,254 shares of the company's stock, valued at $30,320,779.26. This trade represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mary Lyn Porter sold 6,303 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.69, for a total transaction of $42,167.07. Following the completion of the transaction, the insider directly 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. In the last ninety days, insiders have sold 266,355 shares of company stock valued at $1,733,596. 69.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of Mister Car Wash by 87.4% in 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 in the last quarter. Quantinno Capital Management LP acquired a new position in Mister Car Wash in the 4th quarter valued at approximately $77,000. Quarry LP bought a new stake in Mister Car Wash in the fourth quarter worth approximately $79,000. Forum Financial Management LP bought a new stake in shares of Mister Car Wash during the 4th quarter worth $81,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of 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.