Mister Car Wash (NYSE:MCW) Stock Price Down 4.7% – Should You Sell?

Shares of Mister Car Wash, Inc. (NYSE:MCW) fell 4.7% during trading on Monday . The company traded as low as $6.74 and last traded at $6.75. 600,650 shares were traded during trading, a decline of 61% from the average session volume of 1,528,509 shares. The stock had previously closed at $7.08.

Analysts Set New Price Targets

A number of brokerages have recently commented on MCW. The Goldman Sachs Group began coverage on Mister Car Wash in a report on Tuesday. They set a “sell” rating and a $6.25 price target for the company. UBS Group cut their target price on Mister Car Wash from $8.50 to $8.25 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Raymond James started coverage on Mister Car Wash in a research note on Thursday, March 13th. They issued an “outperform” rating and a $10.00 target price for the company. Stephens cut their target price on Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Morgan Stanley upped their target price on Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Mister Car Wash has an average rating of “Hold” and an average target price of $8.50.

Mister Car Wash Stock Down 1.8%

The business has a 50 day moving average of $7.31 and a 200 day moving average of $7.55. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 1.65 and a beta of 1.58.

Mister Car Wash (NYSE:MCW) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. During the same period in the previous year, the business earned $0.08 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts anticipate that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

Insider Buying and Selling at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $7.97, for a total transaction of $71,730.00. Following the sale, the insider now owns 84,895 shares of the company’s stock, valued at $676,613.15. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jedidiah Marc Gold sold 52,989 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $8.52, for a total value of $451,466.28. Following the sale, the chief financial officer now directly owns 55,437 shares in the company, valued at approximately $472,323.24. This represents a 48.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 211,560 shares of company stock worth $1,576,563 over the last three months. Company insiders own 69.00% of the company’s stock.

Institutional Investors Weigh In On Mister Car Wash

Hedge funds have recently modified their holdings of the business. Quantinno Capital Management LP acquired a new stake in shares of Mister Car Wash during the fourth quarter worth about $77,000. Quarry LP acquired a new stake in shares of Mister Car Wash during the fourth quarter worth about $79,000. Forum Financial Management LP acquired a new stake in Mister Car Wash in the 4th quarter valued at approximately $81,000. BNP Paribas Financial Markets acquired a new stake in Mister Car Wash in the 4th quarter valued at approximately $96,000. Finally, Blue Trust Inc. raised its position in Mister Car Wash by 59.4% in the 4th quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock valued at $98,000 after buying an additional 5,032 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.