Mister Car Wash (NYSE:MCW) Earns Equal Weight Rating from Analysts at Stephens

Stephens started coverage on shares of Mister Car Wash (NYSE:MCW) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $8.00 price target on the stock.

Several other analysts have also commented on MCW. Wells Fargo & Company decreased their price target on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. UBS Group increased 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 report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.93.

Mister Car Wash Stock Down 0.4 %

NYSE:MCW opened at $7.05 on Tuesday. Mister Car Wash has a 1-year low of $5.84 and a 1-year high of $9.45. The company has a 50-day moving average of $7.59 and a 200 day moving average of $7.04. The firm has a market cap 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 current ratio of 0.27 and a quick ratio of 0.24.

Mister Car Wash (NYSE:MCW) last released 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. Mister Car Wash had a net margin of 7.54% and a return on equity of 9.92%. The company had revenue of $249.33 million during the quarter, compared to analyst estimates of $249.15 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Mister Car Wash will post 0.29 EPS for the current fiscal year.

Insider Activity at Mister Car Wash

In other 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 transaction of $188,865.09. Following the sale, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jedidiah Marc Gold sold 144,319 shares of Mister Car Wash 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 613,896 shares of company stock valued at $4,957,139 in the last three months. 70.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Mister Car Wash

Several institutional investors have recently made changes to their positions in MCW. AQR Capital Management LLC increased its holdings in shares of Mister Car Wash by 763.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock valued at $29,155,000 after purchasing an additional 3,640,862 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Mister Car Wash by 6,003.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock valued at $23,639,000 after purchasing an additional 3,571,675 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Mister Car Wash by 41.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock valued at $16,349,000 after purchasing an additional 731,366 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Mister Car Wash by 64.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock valued at $9,752,000 after purchasing an additional 535,873 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in shares of Mister Car Wash by 200.9% during the 3rd quarter. Verition Fund Management LLC now owns 514,467 shares of the company’s stock valued at $3,349,000 after purchasing an additional 343,512 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.