Stephens Begins Coverage on Mister Car Wash (NYSE:MCW)

Stephens initiated coverage on shares of Mister Car Wash (NYSE:MCW) in a research note released on Tuesday, MarketBeat reports. The brokerage issued an equal weight rating and a $8.00 price target on the stock.

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

Mister Car Wash Price Performance

Shares of NYSE MCW opened at $7.05 on Tuesday. The firm has a market cap of $2.27 billion, a PE ratio of 30.65, a PEG ratio of 1.54 and a beta of 1.61. The firm has a fifty day moving average of $7.59 and a 200 day moving average of $7.04. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.24 and a current ratio of 0.27. Mister Car Wash has a one year low of $5.84 and a one year high of $9.45.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $249.33 million during 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 firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. As a group, research analysts predict that Mister Car Wash will post 0.29 EPS for the current fiscal year.

Insider Activity

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 144,319 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $7.54, for a total value of $1,088,165.26. Following the transaction, the chief financial officer now owns 44,854 shares of the company’s stock, valued at $338,199.16. This represents a 76.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph Duane Matheny sold 14,600 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $7.97, for a total transaction of $116,362.00. Following the completion of the transaction, the insider now directly owns 81,206 shares in the company, valued at $647,211.82. The trade was a 15.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 613,896 shares of company stock valued at $4,957,139. 70.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MCW. AQR Capital Management LLC lifted its position in Mister Car Wash by 763.2% in the second quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock valued at $29,155,000 after buying an additional 3,640,862 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Mister Car Wash by 6,003.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock worth $23,639,000 after purchasing an additional 3,571,675 shares during the period. Brown Brothers Harriman & Co. increased its stake in Mister Car Wash by 41.1% during the third quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock worth $16,349,000 after purchasing an additional 731,366 shares during the period. Dimensional Fund Advisors LP increased its stake in Mister Car Wash by 64.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock worth $9,752,000 after purchasing an additional 535,873 shares during the period. Finally, Verition Fund Management LLC increased its stake in Mister Car Wash by 200.9% during the third quarter. Verition Fund Management LLC now owns 514,467 shares of the company’s stock worth $3,349,000 after purchasing an additional 343,512 shares during the period.

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.