Wells Fargo & Company Cuts Mister Car Wash (NYSE:MCW) Price Target to $7.00

Mister Car Wash (NYSE:MCW) had its price target trimmed by Wells Fargo & Company from $8.00 to $7.00 in a report released on Tuesday, Marketbeat reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also commented on MCW. BMO Capital Markets decreased their price target on shares of Mister Car Wash from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, August 1st. UBS Group decreased their price target on shares of Mister Car Wash from $8.25 to $7.25 and set a “neutral” rating for the company in a research report on Thursday, July 31st. Morgan Stanley decreased their price target on shares of Mister Car Wash from $9.00 to $7.50 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. Mizuho decreased their price objective on shares of Mister Car Wash from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Monday, August 4th. Finally, Guggenheim set a $8.00 price objective on shares of Mister Car Wash and gave the company a “buy” rating in a research report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Mister Car Wash presently has an average rating of “Hold” and an average target price of $8.00.

Mister Car Wash Stock Performance

MCW stock opened at $5.15 on Tuesday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.65 and a beta of 1.46. The firm has a 50-day simple moving average of $5.38 and a two-hundred day simple moving average of $6.25. Mister Car Wash has a one year low of $4.61 and a one year high of $8.60. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53.

Mister Car Wash (NYSE:MCW) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $265.42 million for the quarter, compared to analysts’ expectations of $271.83 million. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. Mister Car Wash has set its FY 2025 guidance at 0.420-0.430 EPS. On average, equities analysts forecast that Mister Car Wash will post 0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Mister Car Wash

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Brown Advisory Inc. raised its position in shares of Mister Car Wash by 6.8% in the 1st quarter. Brown Advisory Inc. now owns 13,291,516 shares of the company’s stock valued at $104,870,000 after purchasing an additional 843,225 shares during the last quarter. Vanguard Group Inc. increased its holdings in Mister Car Wash by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 10,686,795 shares of the company’s stock worth $84,319,000 after buying an additional 40,236 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Mister Car Wash by 27.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,166,833 shares of the company’s stock worth $37,063,000 after buying an additional 1,327,745 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Mister Car Wash by 6.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,839,088 shares of the company’s stock worth $38,180,000 after buying an additional 294,972 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Mister Car Wash by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,547,839 shares of the company’s stock worth $15,314,000 after buying an additional 69,614 shares during the period.

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.