Mister Car Wash (NYSE:MCW) Sees Large Volume Increase

Shares of Mister Car Wash, Inc. (NYSE:MCWGet Free Report) saw unusually-strong trading volume on Friday . Approximately 3,299,314 shares traded hands during mid-day trading, an increase of 116% from the previous session’s volume of 1,526,715 shares.The stock last traded at $7.15 and had previously closed at $7.43.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Mister Car Wash from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. upgraded Mister Car Wash from a “neutral” rating to an “overweight” rating and set a $8.50 target price for the company in a research note on Friday, May 3rd. Wells Fargo & Company dropped their price target on Mister Car Wash from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Finally, Mizuho initiated coverage on shares of Mister Car Wash in a research report on Tuesday, March 19th. They set a “buy” rating and a $11.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.56.

Get Our Latest Analysis on Mister Car Wash

Mister Car Wash Stock Down 4.0 %

The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 0.98. The stock has a market cap of $2.28 billion, a P/E ratio of 31.00, a PEG ratio of 1.35 and a beta of 1.66. The firm has a 50-day simple moving average of $7.25 and a two-hundred day simple moving average of $7.75.

Mister Car Wash (NYSE:MCWGet Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Mister Car Wash had a return on equity of 9.38% and a net margin of 8.04%. The business had revenue of $230.14 million for the quarter, compared to the consensus estimate of $230.89 million. Equities research analysts expect that Mister Car Wash, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Mayra Idali Chimienti sold 35,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $7.05, for a total transaction of $246,750.00. Following the sale, the chief operating officer now owns 270,523 shares of the company’s stock, valued at $1,907,187.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO John Lo-Minn Lai sold 23,161 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $7.69, for a total value of $178,108.09. Following the completion of the transaction, the chief executive officer now directly owns 2,622,146 shares in the company, valued at approximately $20,164,302.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mayra Idali Chimienti sold 35,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $7.05, for a total transaction of $246,750.00. Following the sale, the chief operating officer now owns 270,523 shares in the company, valued at approximately $1,907,187.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,425 shares of company stock worth $624,391. Corporate insiders own 70.00% of the company’s stock.

Institutional Investors Weigh In On Mister Car Wash

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new position in shares of Mister Car Wash during the 4th quarter worth $43,000. SG Americas Securities LLC acquired a new position in Mister Car Wash during the third quarter worth about $73,000. CenterBook Partners LP bought a new position in shares of Mister Car Wash in the third quarter worth about $80,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Mister Car Wash by 57.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,795 shares of the company’s stock valued at $93,000 after purchasing an additional 6,103 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of 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 valued at $135,000 after purchasing an additional 2,479 shares during the last quarter.

About Mister Car Wash

(Get Free Report)

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.

Further Reading

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