Stephens Upgrades Mister Car Wash (NYSE:MCW) to “Hold”

Mister Car Wash (NYSE:MCW) was upgraded by analysts at Stephens to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

MCW has been the subject of several other reports. Wells Fargo & Company reduced their target price on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. UBS Group upped their price objective on shares of Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Mister Car Wash has a consensus rating of “Hold” and a consensus target price of $8.93.

Mister Car Wash Stock Performance

Shares of NYSE:MCW opened at $7.01 on Monday. The firm’s 50 day simple moving average is $7.62 and its 200 day simple moving average is $7.04. Mister Car Wash has a fifty-two week low of $5.84 and a fifty-two week high of $9.45. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 30.48, a P/E/G ratio of 1.95 and a beta of 1.61. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.27 and a quick ratio of 0.24.

Mister Car Wash (NYSE:MCW) last posted its earnings results on Wednesday, October 30th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $249.33 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share. As a group, sell-side analysts forecast that Mister Car Wash will post 0.29 earnings per share for the current year.

Insider Activity at Mister Car Wash

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 66,122 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $8.51, for a total value of $562,698.22. Following the completion of the sale, the chief financial officer now owns 44,854 shares of the company’s stock, valued at $381,707.54. The trade was a 59.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $188,865.09. Following the transaction, the insider now directly owns 81,206 shares in the company, valued at $647,211.82. This represents a 22.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 613,896 shares of company stock worth $4,957,139. Corporate insiders own 70.00% of the company’s stock.

Institutional Trading of Mister Car Wash

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Mister Car Wash by 54.6% in the third quarter. JPMorgan Chase & Co. now owns 117,175 shares of the company’s stock valued at $763,000 after purchasing an additional 41,390 shares in the last quarter. Barclays PLC raised its position in shares of Mister Car Wash by 281.2% in the 3rd quarter. Barclays PLC now owns 179,013 shares of the company’s stock valued at $1,165,000 after buying an additional 132,051 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Mister Car Wash by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,115,526 shares of the company’s stock worth $13,775,000 after acquiring an additional 38,365 shares during the period. XTX Topco Ltd acquired a new stake in shares of Mister Car Wash during the 3rd quarter worth approximately $381,000. Finally, iSAM Funds UK Ltd increased its stake in Mister Car Wash by 102.2% in the third quarter. iSAM Funds UK Ltd now owns 25,103 shares of the company’s stock valued at $163,000 after acquiring an additional 12,689 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.