Mister Car Wash (NYSE:MCW) Coverage Initiated at Stephens

Stock analysts at Stephens started coverage on shares of Mister Car Wash (NYSE:MCW) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage set an “equal weight” rating and a $8.00 price target on the stock. Stephens’ price objective would indicate a potential upside of 12.68% from the stock’s current price.

A number of other equities analysts also recently commented on MCW. Wells Fargo & Company lowered their price objective on 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 raised their price target on Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Mister Car Wash presently has an average rating of “Hold” and a consensus price target of $8.93.

Mister Car Wash Price Performance

Mister Car Wash stock opened at $7.10 on Tuesday. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96. Mister Car Wash has a 52-week low of $5.84 and a 52-week high of $9.45. The firm has a market cap of $2.29 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.95 and a beta of 1.61. The company’s 50 day moving average is $7.64 and its two-hundred day moving average is $7.04.

Mister Car Wash (NYSE:MCW) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Mister Car Wash had a return on equity of 9.92% and a net margin of 7.54%. The business had revenue of $249.33 million for the quarter, compared to analysts’ expectations of $249.15 million. During the same period last year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts expect that Mister Car Wash will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jedidiah Marc Gold sold 66,122 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $8.51, for a total value of $562,698.22. Following the transaction, the chief financial officer now owns 44,854 shares in the company, valued at $381,707.54. The trade was a 59.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph Duane Matheny sold 23,697 shares of the company’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 value of $188,865.09. Following the sale, the insider now directly owns 81,206 shares of the company’s stock, valued at approximately $647,211.82. This represents a 22.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 613,896 shares of company stock worth $4,957,139 in the last quarter. 70.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Mister Car Wash

Several institutional investors have recently bought and sold shares of MCW. AQR Capital Management LLC boosted its holdings in shares of Mister Car Wash by 763.2% in the second quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock valued at $29,155,000 after acquiring an additional 3,640,862 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Mister Car Wash by 6,003.1% in 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. State Street Corp boosted its holdings in Mister Car Wash by 1.9% in the 3rd quarter. State Street Corp now owns 3,375,939 shares of the company’s stock valued at $21,977,000 after purchasing an additional 63,631 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in 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 worth $16,349,000 after purchasing an additional 731,366 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Mister Car Wash by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,115,526 shares of the company’s stock worth $13,775,000 after buying an additional 38,365 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.