Mister Car Wash (NYSE:MCW) Sees Large Volume Increase – Here’s What Happened

Shares of Mister Car Wash, Inc. (NYSE:MCW) saw an uptick in trading volume on Thursday . 3,236,840 shares were traded during trading, an increase of 21% from the previous session’s volume of 2,667,864 shares.The stock last traded at $6.9750 and had previously closed at $6.96.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.00 price objective (down from $8.00) on shares of Mister Car Wash in a report on Monday, February 23rd. UBS Group raised their target price on shares of Mister Car Wash from $6.25 to $7.00 and gave the company a “neutral” rating in a research report on Thursday, February 19th. Morgan Stanley set a $7.00 price target on shares of Mister Car Wash in a report on Thursday, February 19th. Wells Fargo & Company cut shares of Mister Car Wash from an “overweight” rating to an “equal weight” rating and set a $7.00 price target for the company. in a research report on Wednesday, February 18th. Finally, Mizuho reiterated a “neutral” rating and set a $7.00 price objective (down from $8.00) on shares of Mister Car Wash in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.10.

Mister Car Wash Stock Up 0.2%

The business has a 50 day moving average of $6.36 and a two-hundred day moving average of $5.69. The stock has a market capitalization of $2.29 billion, a PE ratio of 31.71, a PEG ratio of 1.65 and a beta of 1.41. 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 posted its earnings results on Wednesday, February 18th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $261.24 million for the quarter, compared to analyst estimates of $262.35 million. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%.The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Analysts predict that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Mister Car Wash by 8.1% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,185 shares of the company’s stock valued at $145,000 after acquiring an additional 1,821 shares during the last quarter. Vident Advisory LLC grew its holdings in Mister Car Wash by 7.8% in the second quarter. Vident Advisory LLC now owns 25,447 shares of the company’s stock worth $153,000 after purchasing an additional 1,851 shares during the last quarter. CWM LLC increased its position in shares of Mister Car Wash by 8.8% during the third quarter. CWM LLC now owns 29,719 shares of the company’s stock worth $158,000 after purchasing an additional 2,396 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Mister Car Wash by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,310 shares of the company’s stock valued at $444,000 after purchasing an additional 2,519 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Mister Car Wash by 3.9% during the 4th quarter. Franklin Resources Inc. now owns 70,557 shares of the company’s stock valued at $392,000 after purchasing an additional 2,621 shares during the last quarter.

About Mister Car Wash

Mister Car Wash, traded on the NYSE under the ticker MCW, is a leading provider of vehicle cleaning services in the United States. The company specializes in a tiered range of wash offerings, including express exterior washes, full-service interior and exterior cleaning, and premium detailing services. In addition to one-time washes, Mister Car Wash markets unlimited monthly membership plans that grant customers access to recurring washes at participating locations.

Founded in 1969 and headquartered in Houston, Texas, Mister Car Wash has grown from a single facility to one of the largest car wash chains in the country.