Morgan Stanley Cuts Mister Car Wash (NYSE:MCW) Price Target to $8.00

Mister Car Wash (NYSE:MCW) had its price objective reduced by Morgan Stanley from $9.00 to $8.00 in a report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

MCW has been the subject of a number of other research reports. Wells Fargo & Company reduced their price target on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Stephens began coverage on shares of Mister Car Wash in a report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 target price for the company. Finally, UBS Group lifted their price target on shares of Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Mister Car Wash has an average rating of “Hold” and a consensus target price of $8.81.

Mister Car Wash Trading Up 2.8 %

Shares of NYSE MCW opened at $7.35 on Tuesday. The firm’s 50 day moving average price is $7.46 and its 200-day moving average price is $7.06. Mister Car Wash has a 52-week low of $5.84 and a 52-week high of $9.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.24 and a current ratio of 0.27. The company has a market cap of $2.37 billion, a PE ratio of 31.96, a P/E/G ratio of 1.60 and a beta of 1.61.

Mister Car Wash (NYSE:MCW) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $249.33 million during the quarter, compared to analyst estimates of $249.15 million. Mister Car Wash had a net margin of 7.54% and a return on equity of 9.92%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 earnings per share. On average, equities research analysts expect that Mister Car Wash will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jedidiah Marc Gold sold 144,319 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $7.54, for a total transaction of $1,088,165.26. Following the completion of the transaction, the chief financial officer now directly owns 44,854 shares in the company, valued at $338,199.16. The trade was a 76.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Duane Matheny sold 14,600 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $7.97, for a total value of $116,362.00. Following the sale, the insider now directly owns 81,206 shares in the company, valued at approximately $647,211.82. This trade represents a 15.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 613,896 shares of company stock worth $4,957,139 in the last ninety days. 70.00% of the stock is owned by insiders.

Institutional Trading of Mister Car Wash

Institutional investors and hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. boosted its holdings in shares of Mister Car Wash by 41.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock worth $16,349,000 after purchasing an additional 731,366 shares during the last quarter. Barclays PLC lifted its position in Mister Car Wash by 281.2% during the third quarter. Barclays PLC now owns 179,013 shares of the company’s stock worth $1,165,000 after buying an additional 132,051 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Mister Car Wash by 6,003.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock worth $23,639,000 after buying an additional 3,571,675 shares during the last quarter. AQR Capital Management LLC grew its holdings in Mister Car Wash by 763.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock valued at $29,155,000 after buying an additional 3,640,862 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of Mister Car Wash by 200.9% in the 3rd quarter. Verition Fund Management LLC now owns 514,467 shares of the company’s stock worth $3,349,000 after acquiring an additional 343,512 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.