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

Mister Car Wash (NYSE:MCW) had its price objective lowered by research analysts at Morgan Stanley from $9.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 9.51% from the stock’s previous close.

Several other research firms have also recently weighed in on MCW. UBS Group lifted their price objective on Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Stephens assumed coverage on Mister Car Wash in a research report on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 price target on the stock. Finally, Wells Fargo & Company decreased their price objective on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.81.

Mister Car Wash Trading Up 2.6 %

Shares of MCW stock traded up $0.19 during mid-day trading on Tuesday, reaching $7.31. The stock had a trading volume of 178,005 shares, compared to its average volume of 826,025. 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 stock’s 50-day moving average price is $7.51 and its two-hundred day moving average price is $7.05. The firm has a market capitalization of $2.35 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 1.57 and a beta of 1.61. Mister Car Wash has a 52-week low of $5.84 and a 52-week high of $9.45.

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

Insider Activity at Mister Car Wash

In other Mister Car Wash news, insider Joseph Duane Matheny sold 14,600 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $7.97, for a total transaction 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 position. The sale was disclosed in a document filed 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 dated 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 completion of the transaction, the chief financial officer now directly owns 44,854 shares of the company’s stock, valued at approximately $338,199.16. This trade represents a 76.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 613,896 shares of company stock valued at $4,957,139. 70.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Mister Car Wash

A number of hedge funds have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors grew its holdings in shares of Mister Car Wash by 13.3% in the fourth quarter. Arkadios Wealth Advisors now owns 48,640 shares of the company’s stock worth $355,000 after acquiring an additional 5,702 shares during the period. JPMorgan Chase & Co. increased its position in shares of Mister Car Wash by 54.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 117,175 shares of the company’s stock valued at $763,000 after purchasing an additional 41,390 shares during the last quarter. Barclays PLC lifted its stake in shares of Mister Car Wash by 281.2% in the 3rd quarter. Barclays PLC now owns 179,013 shares of the company’s stock worth $1,165,000 after purchasing an additional 132,051 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Mister Car Wash by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,115,526 shares of the company’s stock worth $13,775,000 after buying an additional 38,365 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Mister Car Wash during the third quarter valued at approximately $381,000.

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.