Mister Car Wash (NYSE:MCW) Sets New 12-Month Low After Earnings Miss

Key Points

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Shares of Mister Car Wash, Inc. (NYSE:MCW - Get Free Report) hit a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $5.27 and last traded at $5.43, with a volume of 1336215 shares traded. The stock had previously closed at $6.14.

The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. The firm had revenue of $265.42 million for the quarter, compared to the consensus estimate of $271.83 million. During the same period in the prior year, the company earned $0.11 EPS. The company's revenue for the quarter was up 4.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MCW. Wells Fargo & Company lowered their price target on Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating for the company in a report on Friday, July 18th. BTIG Research started coverage on shares of Mister Car Wash in a report on Monday, June 30th. They issued a "neutral" rating for the company. Mizuho lowered their price objective on shares of Mister Car Wash from $11.00 to $9.00 and set an "outperform" rating for the company in a research report on Monday. The Goldman Sachs Group began coverage on shares of Mister Car Wash in a research report on Tuesday, June 3rd. They issued a "sell" rating and a $6.25 target price on the stock. Finally, Stephens lowered their price target on shares of Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mister Car Wash has an average rating of "Hold" and a consensus price target of $8.09.

Insider Buying and Selling at Mister Car Wash

In related news, insider Joseph Duane Matheny sold 102,456 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $6.30, for a total value of $645,472.80. Following the transaction, the insider owned 88,196 shares in the company, valued at $555,634.80. The trade was a 53.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mary Lyn Porter sold 6,303 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.69, for a total value of $42,167.07. Following the sale, the insider owned 23,081 shares of the company's stock, valued at approximately $154,411.89. The trade was a 21.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 266,355 shares of company stock worth $1,733,596. Company insiders own 69.00% of the company's stock.

Hedge Funds Weigh In On Mister Car Wash

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake 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 worth $34,000 after purchasing an additional 2,632 shares during the last quarter. Quantinno Capital Management LP bought a new position in shares of Mister Car Wash during the 4th quarter worth $77,000. Quarry LP purchased a new stake in shares of Mister Car Wash during the fourth quarter worth $79,000. Forum Financial Management LP purchased a new position in Mister Car Wash during the fourth quarter valued at approximately $81,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Mister Car Wash in the second quarter worth approximately $91,000.

Mister Car Wash Stock Performance

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 company has a 50 day simple moving average of $6.42 and a 200-day simple moving average of $7.21. The firm has a market cap of $1.84 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48.

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.