Mister Car Wash (NYSE:MCW) Stock Price Down 2.7% – What’s Next?

Mister Car Wash, Inc. (NYSE:MCW)’s stock price was down 2.7% during mid-day trading on Friday . The stock traded as low as $6.24 and last traded at $6.24. Approximately 267,608 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,674,444 shares. The stock had previously closed at $6.41.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their price objective on Mister Car Wash from $5.00 to $6.00 and gave the company a “sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, Mister Car Wash presently has an average rating of “Moderate Buy” and an average price target of $9.50.

Mister Car Wash Price Performance

The company has a 50-day moving average of $6.50 and a two-hundred day moving average of $6.90. The stock has a market capitalization of $2.02 billion, a PE ratio of 28.50, a P/E/G ratio of 1.98 and a beta of 1.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.28 and a quick ratio of 0.25.

Mister Car Wash (NYSE:MCW) last released its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Mister Car Wash had a return on equity of 9.90% and a net margin of 7.37%. The firm had revenue of $255.04 million for the quarter, compared to the consensus estimate of $256.65 million. Sell-side analysts predict that Mister Car Wash, Inc. will post 0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Mister Car Wash

Several large investors have recently added to or reduced their stakes in MCW. Wasatch Advisors LP raised its holdings in shares of Mister Car Wash by 1.7% in the 1st quarter. Wasatch Advisors LP now owns 16,423,825 shares of the company’s stock worth $127,285,000 after purchasing an additional 267,825 shares during the period. Vanguard Group Inc. raised its holdings in shares of Mister Car Wash by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 10,082,581 shares of the company’s stock worth $87,114,000 after purchasing an additional 315,679 shares during the period. 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 purchasing an additional 3,640,862 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Mister Car Wash by 23.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,779,964 shares of the company’s stock worth $12,673,000 after purchasing an additional 337,272 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Mister Car Wash by 64.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock worth $9,752,000 after purchasing an additional 535,873 shares during the period.

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.