Mister Car Wash (NYSE:MCW) Shares Gap Up to $6.55

Posted by Defense World Staff on Sep 10th, 2023

Mister Car Wash, Inc. (NYSE:MCW – Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $6.55, but opened at $6.69. Mister Car Wash shares last traded at $6.65, with a volume of 80,174 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Piper Sandler raised shares of Mister Car Wash from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $9.00 to $12.00 in a report on Monday, August 28th. William Blair assumed coverage on shares of Mister Car Wash in a report on Friday. They set an “outperform” rating on the stock. Finally, Guggenheim assumed coverage on shares of Mister Car Wash in a report on Thursday, June 29th. They set a “buy” rating and a $11.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.38.

Check Out Our Latest Research Report on Mister Car Wash

Mister Car Wash Trading Down 0.9 %

The company has a debt-to-equity ratio of 1.05, a current ratio of 0.97 and a quick ratio of 0.93. The firm has a market capitalization of $2.03 billion, a PE ratio of 24.96, a P/E/G ratio of 4.62 and a beta of 1.21. The company’s fifty day simple moving average is $8.21 and its 200-day simple moving average is $8.53.

Mister Car Wash (NYSE:MCW – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $236.89 million for the quarter, compared to analysts’ expectations of $240.54 million. Mister Car Wash had a net margin of 10.06% and a return on equity of 11.61%. As a group, sell-side analysts expect that Mister Car Wash, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Mister Car Wash

In other news, COO Mayra Idali Chimienti sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $8.82, for a total value of $1,102,500.00. Following the transaction, the chief operating officer now directly owns 263,774 shares of the company’s stock, valued at $2,326,486.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO John Lo-Minn Lai sold 198,200 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $8.87, for a total value of $1,758,034.00. Following the transaction, the chief executive officer now directly owns 2,518,130 shares of the company’s stock, valued at $22,335,813.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mayra Idali Chimienti sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $8.82, for a total transaction of $1,102,500.00. Following the completion of the transaction, the chief operating officer now directly owns 263,774 shares in the company, valued at $2,326,486.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,233,409 shares of company stock valued at $10,610,640 over the last ninety days. Corporate insiders own 71.20% of the company’s stock.

Institutional Investors Weigh In On Mister Car Wash

Several hedge funds and other institutional investors have recently bought and sold shares of MCW. BlackRock Inc. increased its position in Mister Car Wash by 275.3% during the third quarter. BlackRock Inc. now owns 10,269,758 shares of the company’s stock worth $88,113,000 after purchasing an additional 7,533,182 shares during the last quarter. Brown Advisory Inc. increased its position in Mister Car Wash by 35.4% during the first quarter. Brown Advisory Inc. now owns 11,150,085 shares of the company’s stock worth $96,114,000 after purchasing an additional 2,916,774 shares during the last quarter. Crow s Nest Holdings LP increased its position in Mister Car Wash by 221.1% during the first quarter. Crow s Nest Holdings LP now owns 3,784,731 shares of the company’s stock worth $55,976,000 after purchasing an additional 2,606,011 shares during the last quarter. Wasatch Advisors Inc. increased its position in Mister Car Wash by 23.5% during the first quarter. Wasatch Advisors Inc. now owns 9,989,232 shares of the company’s stock worth $147,741,000 after purchasing an additional 1,899,664 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Mister Car Wash by 24.8% during the third quarter. Vanguard Group Inc. now owns 7,675,380 shares of the company’s stock worth $65,855,000 after purchasing an additional 1,525,592 shares during the last quarter.

Mister Car Wash Company Profile

(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 was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021. Mister Car Wash, Inc was founded in 1969 and is headquartered in Tucson, Arizona.