Stephens Begins Coverage on Mister Car Wash (NYSE:MCW)

Analysts at Stephens initiated coverage on shares of Mister Car Wash (NYSE:MCW) in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage set an “equal weight” rating and a $8.00 price target on the stock. Stephens’ target price points to a potential upside of 12.99% from the company’s current price.

A number of other analysts have also recently commented on MCW. Wells Fargo & Company cut their price target on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. UBS Group upped their target price on 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Mister Car Wash has an average rating of “Hold” and an average target price of $8.93.

Mister Car Wash Price Performance

Shares of MCW opened at $7.08 on Tuesday. The business has a 50-day moving average of $7.62 and a 200-day moving average of $7.04. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.27 and a quick ratio of 0.24. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 1.95 and a beta of 1.61. Mister Car Wash has a 1 year low of $5.84 and a 1 year high of $9.45.

Mister Car Wash (NYSE:MCW) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $249.33 million during the quarter, compared to analyst estimates of $249.15 million. During the same quarter last year, the business earned $0.06 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Mister Car Wash will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, insider Joseph Duane Matheny sold 23,697 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $7.97, for a total value of $188,865.09. Following the completion of the sale, the insider now owns 81,206 shares of the company’s stock, valued at approximately $647,211.82. This trade represents a 22.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jedidiah Marc Gold sold 362,658 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $8.22, for a total value of $2,981,048.76. Following the transaction, the chief financial officer now directly owns 44,854 shares in the company, valued at $368,699.88. The trade was a 88.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 613,896 shares of company stock valued at $4,957,139. Corporate insiders own 70.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. 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 worth $29,155,000 after acquiring an additional 3,640,862 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in 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 worth $23,639,000 after purchasing an additional 3,571,675 shares in the last quarter. State Street Corp raised its stake in shares of Mister Car Wash by 1.9% in 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 last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Mister Car Wash by 41.1% in the third 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. Finally, Geode Capital Management LLC boosted 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 valued at $13,775,000 after buying an additional 38,365 shares during 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.