Mister Car Wash (NYSE:MCW) Upgraded at Stephens

Stephens upgraded shares of Mister Car Wash (NYSE:MCW) to a hold rating in a report published on Monday,Zacks.com reports.

Several other research analysts have also commented on the company. UBS Group lifted their price target on Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Mister Car Wash currently has a consensus rating of “Hold” and an average price target of $8.93.

Mister Car Wash Stock Up 1.0 %

MCW stock opened at $7.08 on Monday. The company has a current ratio of 0.27, a quick ratio of 0.24 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average of $7.62 and a two-hundred day moving average of $7.04. Mister Car Wash has a 12 month low of $5.84 and a 12 month high of $9.45. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 1.95 and a beta of 1.61.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.09 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 firm had revenue of $249.33 million during the quarter, compared to analysts’ expectations of $249.15 million. During the same quarter last year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts forecast that Mister Car Wash will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 14,600 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $7.97, for a total value of $116,362.00. Following the sale, the insider now directly owns 81,206 shares of the company’s stock, valued at approximately $647,211.82. The trade was a 15.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jedidiah Marc Gold sold 144,319 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $7.54, for a total transaction of $1,088,165.26. Following the completion of the transaction, the chief financial officer now owns 44,854 shares in the company, valued at approximately $338,199.16. This represents a 76.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 613,896 shares of company stock worth $4,957,139. Company insiders own 70.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Mister Car Wash by 763.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock valued at $29,155,000 after buying an additional 3,640,862 shares during the period. The Manufacturers Life Insurance Company grew its position 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 acquiring an additional 3,571,675 shares in the last quarter. State Street Corp increased its stake in Mister Car Wash by 1.9% during the third quarter. State Street Corp now owns 3,375,939 shares of the company’s stock worth $21,977,000 after purchasing an additional 63,631 shares during the period. Brown Brothers Harriman & Co. increased its stake in Mister Car Wash by 41.1% during the third 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 lifted its position in shares of Mister Car Wash by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,115,526 shares of the company’s stock worth $13,775,000 after purchasing 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.