Morgan Stanley Has Lowered Expectations for Mister Car Wash (NYSE:MCW) Stock Price

Mister Car Wash (NYSE:MCW) had its price target cut by equities researchers at Morgan Stanley from $9.00 to $8.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 11.89% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Stephens began coverage on shares of Mister Car Wash in a research note on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price target on the stock. Wells Fargo & Company lowered their target price on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, UBS Group upped their price objective on Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.81.

Mister Car Wash Stock Performance

Shares of NYSE MCW opened at $7.15 on Tuesday. The company has a current ratio of 0.27, a quick ratio of 0.24 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $2.30 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.57 and a beta of 1.61. Mister Car Wash has a 12 month low of $5.84 and a 12 month high of $9.45. The stock has a 50 day moving average of $7.48 and a 200-day moving average of $7.05.

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

Insider Buying and Selling

In other news, insider Joseph Duane Matheny sold 14,600 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $7.97, for a total transaction of $116,362.00. Following the completion of the sale, the insider now owns 81,206 shares of the company’s stock, valued at approximately $647,211.82. This represents a 15.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jedidiah Marc Gold sold 144,319 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 44,854 shares of the company’s stock, valued at approximately $338,199.16. This represents a 76.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 613,896 shares of company stock worth $4,957,139. Company insiders own 70.00% of the company’s stock.

Institutional Investors Weigh In On Mister Car Wash

Large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Mister Car Wash by 884.7% in the third quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock valued at $60,000 after buying an additional 7,617 shares in the last quarter. Ariadne Wealth Management LP bought a new position in shares of Mister Car Wash in the second quarter worth about $73,000. Sanctuary Advisors LLC acquired a new stake in shares of Mister Car Wash in the 2nd quarter valued at approximately $112,000. 272 Capital LP bought a new stake in shares of Mister Car Wash during the 2nd quarter valued at approximately $119,000. Finally, iSAM Funds UK Ltd increased its position in Mister Car Wash by 102.2% during the 3rd quarter. iSAM Funds UK Ltd now owns 25,103 shares of the company’s stock worth $163,000 after purchasing an additional 12,689 shares in the last quarter.

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.