Mister Car Wash, Inc. (NYSE:MCW) Receives $8.50 Consensus Target Price from Analysts

Mister Car Wash, Inc. (NYSE:MCW) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.50.

MCW has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Mister Car Wash in a research note on Tuesday, June 3rd. They issued a “sell” rating and a $6.25 target price on the stock. Stephens lowered their target price on shares of Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. UBS Group lowered their target price on shares of Mister Car Wash from $8.50 to $8.25 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Finally, BTIG Research began coverage on shares of Mister Car Wash in a research report on Monday, June 30th. They set a “neutral” rating on the stock.

Insider Activity at Mister Car Wash

In related news, CEO John Lo-Minn Lai sold 33,904 shares of Mister Car Wash stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $6.13, for a total value of $207,831.52. Following the transaction, the chief executive officer owned 4,578,350 shares in the company, valued at $28,065,285.50. This trade represents a 0.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Veronica Rogers sold 5,205 shares of Mister Car Wash stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $7.06, for a total transaction of $36,747.30. Following the completion of the transaction, the director owned 27,880 shares in the company, valued at approximately $196,832.80. The trade was a 15.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 266,355 shares of company stock worth $1,733,596 in the last three months. 69.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Mister Car Wash

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Mister Car Wash by 87.4% in the second quarter. GAMMA Investing LLC now owns 5,645 shares of the company’s stock valued at $34,000 after acquiring an additional 2,632 shares during the period. Quantinno Capital Management LP purchased a new position in shares of Mister Car Wash in the fourth quarter valued at about $77,000. Quarry LP purchased a new position in shares of Mister Car Wash in the fourth quarter valued at about $79,000. Forum Financial Management LP purchased a new position in shares of Mister Car Wash in the fourth quarter valued at about $81,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Mister Car Wash in the fourth quarter valued at about $96,000.

Mister Car Wash Stock Performance

NYSE MCW opened at $6.59 on Tuesday. Mister Car Wash has a 1 year low of $5.84 and a 1 year high of $8.60. 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 stock has a market capitalization of $2.14 billion, a PE ratio of 29.96, a P/E/G ratio of 1.65 and a beta of 1.49. The company’s 50 day simple moving average is $6.79 and its two-hundred day simple moving average is $7.29.

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

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.