Analysts Set Mister Car Wash, Inc. (NYSE:MCW) PT at $8.50

Mister Car Wash, Inc. (NYSE:MCW) has earned a consensus rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.50.

Several research firms have weighed in on MCW. The Goldman Sachs Group began coverage on shares of Mister Car Wash in a research report on Tuesday, June 3rd. They issued a “sell” rating and a $6.25 price target on the stock. Stephens decreased their price target on shares of Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. UBS Group reduced their price objective 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. Raymond James started coverage on shares of Mister Car Wash in a research note on Thursday, March 13th. They issued an “outperform” rating and a $10.00 price objective for the company. Finally, Morgan Stanley increased their price objective on shares of Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th.

Insider Transactions at Mister Car Wash

In related news, insider Mary Lyn Porter sold 6,303 shares of the company’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 now owns 23,081 shares in the company, valued at approximately $154,411.89. This represents a 21.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jodi Taylor sold 5,205 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $7.06, for a total transaction of $36,747.30. Following the transaction, the director now owns 36,932 shares of the company’s stock, valued at approximately $260,739.92. This represents a 12.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,508 shares of company stock valued at $1,279,800 over the last three months. Corporate insiders own 69.00% of the company’s stock.

Hedge Funds Weigh In On Mister Car Wash

A number of hedge funds and other institutional investors have recently modified their holdings of MCW. Legato Capital Management LLC bought a new position in shares of Mister Car Wash during the fourth quarter worth $692,000. Blue Trust Inc. lifted its position in Mister Car Wash by 59.4% during the fourth quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock valued at $98,000 after purchasing an additional 5,032 shares during the last quarter. Principal Financial Group Inc. lifted its position in Mister Car Wash by 3.2% during the fourth quarter. Principal Financial Group Inc. now owns 456,136 shares of the company’s stock valued at $3,325,000 after purchasing an additional 14,205 shares during the last quarter. New York State Common Retirement Fund lifted its position in Mister Car Wash by 419.9% during the fourth quarter. New York State Common Retirement Fund now owns 132,826 shares of the company’s stock valued at $968,000 after purchasing an additional 107,280 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Mister Car Wash by 9.3% during the fourth quarter. Handelsbanken Fonder AB now owns 47,100 shares of the company’s stock valued at $343,000 after purchasing an additional 4,000 shares during the last quarter.

Mister Car Wash Stock Down 2.3%

MCW opened at $6.32 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. Mister Car Wash has a 1-year low of $5.84 and a 1-year high of $8.60. The company has a market capitalization of $2.05 billion, a PE ratio of 28.73, a PEG ratio of 1.65 and a beta of 1.56. The firm’s 50 day simple moving average is $7.14 and its two-hundred day simple moving average is $7.47.

Mister Car Wash (NYSE:MCW) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. During the same period in the prior year, the firm earned $0.08 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts forecast that Mister Car Wash will post 0.33 EPS 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.