Mister Car Wash (NYSE:MCW) Upgraded at Stephens

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

Several other equities research analysts also recently weighed in on MCW. UBS Group increased their price target on Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company dropped their target price on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.93.

Mister Car Wash Price Performance

Shares of NYSE MCW opened at $7.08 on Monday. Mister Car Wash has a 52 week low of $5.84 and a 52 week high of $9.45. The business’s 50 day moving average price is $7.62 and its 200 day moving average price is $7.04. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96. The firm has a market cap of $2.28 billion, a P/E ratio of 30.78, a P/E/G ratio of 1.95 and a beta of 1.61.

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

Insiders Place Their Bets

In other news, CFO Jedidiah Marc Gold sold 144,319 shares of the business’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 value of $1,088,165.26. Following the completion of the sale, the chief financial officer now directly owns 44,854 shares in the company, valued at $338,199.16. The trade was a 76.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Duane Matheny sold 23,697 shares of the company’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 transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at approximately $647,211.82. The trade was a 22.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 613,896 shares of company stock worth $4,957,139. Company insiders own 70.00% of the company’s stock.

Hedge Funds Weigh In On Mister Car Wash

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in shares of Mister Car Wash by 884.7% during the 3rd quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock worth $60,000 after purchasing an additional 7,617 shares during the last quarter. Ariadne Wealth Management LP purchased a new stake in Mister Car Wash during the 2nd quarter worth approximately $73,000. Sanctuary Advisors LLC acquired a new position in shares of Mister Car Wash during the second quarter valued at approximately $112,000. 272 Capital LP purchased a new position in shares of Mister Car Wash in the second quarter valued at approximately $119,000. Finally, iSAM Funds UK Ltd boosted its stake in shares of Mister Car Wash by 102.2% in the third quarter. iSAM Funds UK Ltd now owns 25,103 shares of the company’s stock worth $163,000 after acquiring an additional 12,689 shares during the last quarter.

About Mister Car Wash

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.