Mister Car Wash (NYSE:MCW) Earns Buy Rating from Guggenheim

Posted by Defense World Staff on Sep 24th, 2023

Mister Car Wash (NYSE:MCW – Get Free Report)‘s stock had its “buy” rating restated by investment analysts at Guggenheim in a research note issued on Friday, Benzinga reports. They currently have a $11.00 price target on the stock. Guggenheim’s price objective would indicate a potential upside of 96.78% from the company’s current price.

MCW has been the subject of several other reports. Morgan Stanley reduced their price target on Mister Car Wash from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, September 11th. William Blair began coverage on Mister Car Wash in a research report on Friday, September 8th. They set an “outperform” rating for the company. Finally, Piper Sandler raised Mister Car Wash from a “neutral” rating to an “overweight” rating and increased their price target for the company from $9.00 to $12.00 in a research report on Monday, August 28th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Mister Car Wash has a consensus rating of “Hold” and an average target price of $10.00.

Read Our Latest Report on Mister Car Wash

Mister Car Wash Stock Down 2.8 %

MCW stock opened at $5.59 on Friday. 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 stock has a market capitalization of $1.75 billion, a P/E ratio of 21.50, a P/E/G ratio of 4.04 and a beta of 1.21. The business has a 50-day moving average of $7.45 and a 200-day moving average of $8.31. Mister Car Wash has a fifty-two week low of $5.58 and a fifty-two week high of $11.14.

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 for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $236.89 million for the quarter, compared to analyst estimates of $240.54 million. Mister Car Wash had a return on equity of 11.61% and a net margin of 10.06%. On average, sell-side analysts anticipate that Mister Car Wash will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, CEO John Lo-Minn Lai sold 198,200 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $8.65, for a total value of $1,714,430.00. Following the sale, the chief executive officer now owns 2,564,226 shares in the company, valued at $22,180,554.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Mister Car Wash news, CEO John Lo-Minn Lai sold 198,200 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $8.65, for a total value of $1,714,430.00. Following the sale, the chief executive officer now owns 2,564,226 shares in the company, valued at $22,180,554.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jedidiah Marc Gold sold 4,079 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $8.46, for a total value of $34,508.34. Following the completion of the sale, the chief financial officer now owns 23,588 shares in the company, valued at approximately $199,554.48. The disclosure for this sale can be found here. Insiders have sold 1,306,609 shares of company stock worth $10,205,804 over the last 90 days. Company insiders own 71.20% of the company’s stock.

Hedge Funds Weigh In On Mister Car Wash

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Mister Car Wash by 4.4% during the second quarter. JPMorgan Chase & Co. now owns 23,348 shares of the company’s stock worth $254,000 after purchasing an additional 991 shares during the period. Victory Capital Management Inc. increased its stake in shares of Mister Car Wash by 4.2% during the second quarter. Victory Capital Management Inc. now owns 31,948 shares of the company’s stock worth $308,000 after purchasing an additional 1,276 shares during the period. National Bank of Canada FI increased its stake in shares of Mister Car Wash by 39.4% during the first quarter. National Bank of Canada FI now owns 4,950 shares of the company’s stock worth $43,000 after purchasing an additional 1,400 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Mister Car Wash by 2.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 72,054 shares of the company’s stock worth $621,000 after purchasing an additional 1,803 shares during the period. Finally, State of Tennessee Treasury Department increased its stake in shares of Mister Car Wash by 4.5% during the first quarter. State of Tennessee Treasury Department now owns 42,851 shares of the company’s stock worth $369,000 after purchasing an additional 1,854 shares during the period.

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.