Mister Car Wash (NYSE:MCW) Shares Gap Up – What’s Next?

Mister Car Wash, Inc. (NYSE:MCW)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $6.65, but opened at $7.51. Mister Car Wash shares last traded at $7.55, with a volume of 415,291 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their price target on shares of Mister Car Wash from $5.00 to $6.00 and gave the stock a “sell” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Mister Car Wash Stock Up 14.6 %

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.25 and a current ratio of 0.28. The business’s 50 day moving average price is $6.46 and its 200-day moving average price is $6.83. The firm has a market capitalization of $2.45 billion, a PE ratio of 34.14, a P/E/G ratio of 1.93 and a beta of 1.64.

Mister Car Wash (NYSE:MCW) last released its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $255.04 million during the quarter, compared to the consensus estimate of $256.65 million. Mister Car Wash had a return on equity of 9.90% and a net margin of 7.37%. As a group, equities research analysts forecast that Mister Car Wash, Inc. will post 0.27 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System grew its stake in shares of Mister Car Wash by 3.3% in the second quarter. Louisiana State Employees Retirement System now owns 46,600 shares of the company’s stock worth $332,000 after acquiring an additional 1,500 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in Mister Car Wash by 2.0% in the first quarter. Texas Permanent School Fund Corp now owns 79,712 shares of the company’s stock valued at $618,000 after purchasing an additional 1,581 shares during the period. Bessemer Group Inc. boosted its holdings in Mister Car Wash by 9.9% in the first quarter. Bessemer Group Inc. now owns 20,179 shares of the company’s stock valued at $156,000 after purchasing an additional 1,824 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Mister Car Wash by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,332 shares of the company’s stock worth $135,000 after purchasing an additional 2,479 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Mister Car Wash by 19.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,673 shares of the company’s stock worth $190,000 after purchasing an additional 4,268 shares during the period.

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.