Analysts Set Mister Car Wash, Inc. (NYSE:MCW) Target Price at $9.08

Shares of Mister Car Wash, Inc. (NYSE:MCW) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $8.93.

Several analysts have commented on the company. Wells Fargo & Company dropped their price objective on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. 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 research note on Thursday, October 31st. Finally, Stephens started coverage on shares of Mister Car Wash in a research report on Tuesday. They set an “equal weight” rating and a $8.00 price objective for the company.

Insider Buying and Selling

In other Mister Car Wash news, insider Joseph Duane Matheny sold 23,697 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $7.97, for a total value of $188,865.09. Following the transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at $647,211.82. This trade represents a 22.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $7.54, for a total value of $1,088,165.26. Following the transaction, the chief financial officer now owns 44,854 shares in the company, 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 ninety days, insiders sold 613,896 shares of company stock worth $4,957,139. 70.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mister Car Wash

A number of institutional investors have recently added to or reduced their stakes in MCW. Arkadios Wealth Advisors grew its holdings in Mister Car Wash by 13.3% in the 4th quarter. Arkadios Wealth Advisors now owns 48,640 shares of the company’s stock valued at $355,000 after buying an additional 5,702 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Mister Car Wash by 884.7% during the 3rd quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock valued at $60,000 after acquiring an additional 7,617 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Mister Car Wash by 26.8% in the third quarter. Handelsbanken Fonder AB now owns 43,100 shares of the company’s stock valued at $281,000 after purchasing an additional 9,100 shares during the period. Ariadne Wealth Management LP purchased a new stake in shares of Mister Car Wash in the second quarter valued at about $73,000. Finally, Victory Capital Management Inc. increased its position in Mister Car Wash by 19.5% during the third quarter. Victory Capital Management Inc. now owns 63,576 shares of the company’s stock worth $414,000 after purchasing an additional 10,377 shares during the last quarter.

Mister Car Wash Stock Performance

Shares of NYSE MCW opened at $7.05 on Tuesday. The company has a market capitalization of $2.27 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 1.54 and a beta of 1.61. 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’s fifty day moving average price is $7.59 and its 200 day moving average price is $7.04. Mister Car Wash has a 1 year low of $5.84 and a 1 year high of $9.45.

Mister Car Wash (NYSE:MCW) last posted its earnings results on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $249.33 million for the quarter, compared to analyst estimates of $249.15 million. During the same period in the prior year, the company posted $0.06 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts predict that Mister Car Wash will post 0.29 earnings per share for the current year.

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.