Mister Car Wash (NYSE:MCW) Sees Strong Trading Volume - Still a Buy?

Key Points

• Analyst consensus "Hold": One Buy, 13 Holds and 1 Sell with a consensus price target of $7.10, and several recent downgrades/neutral calls from firms including UBS, Guggenheim, BMO and Raymond James.
• Quarterly beat: FY Q report showed $0.13 EPS vs $0.12 est. and $277.9M revenue vs $274.4M, with revenue up 6.2% YoY, a 7.06% net margin and 10.49% return on equity.
• Trading and valuation: About 1.94M shares traded on Friday with the stock near $7.05 (50-day MA $7.01), market cap ~$2.31B and a PE around 32.00.

Shares of Mister Car Wash, Inc. (NYSE:MCW - Get Free Report) saw unusually-high trading volume on Friday . Approximately 1,944,269 shares were traded during mid-day trading, a decline of 21% from the previous session's volume of 2,458,582 shares.The stock last traded at $7.0450 and had previously closed at $7.04.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCW. UBS Group increased their price objective on Mister Car Wash from $6.25 to $7.00 and gave the company a "neutral" rating in a report on Thursday, February 19th. Raymond James Financial cut shares of Mister Car Wash from a "moderate buy" rating to a "hold" rating in a research report on Friday, February 20th. Guggenheim cut shares of Mister Car Wash from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 18th. BMO Capital Markets downgraded Mister Car Wash from an "outperform" rating to a "hold" rating and set a $7.00 price target for the company. in a research note on Thursday, February 19th. Finally, Morgan Stanley set a $7.00 target price on shares of Mister Car Wash in a research report on Thursday, February 19th. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Mister Car Wash has an average rating of "Hold" and a consensus price target of $7.10.

Mister Car Wash Price Performance

The business's 50-day moving average price is $7.01 and its 200 day moving average price is $6.11. The stock has a market capitalization of $2.31 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 1.65 and a beta of 1.29. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53.

Mister Car Wash (NYSE:MCW - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The company had revenue of $277.91 million during the quarter, compared to analyst estimates of $274.41 million. During the same period in the previous year, the business earned $0.11 earnings per share. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts forecast that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.

Institutional Trading of Mister Car Wash

Several hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in Mister Car Wash by 2.2% in the first quarter. Principal Financial Group Inc. now owns 480,428 shares of the company's stock worth $3,349,000 after purchasing an additional 10,431 shares during the last quarter. Fifth Third Bancorp lifted its stake in Mister Car Wash by 2,644.8% in the first quarter. Fifth Third Bancorp now owns 22,507 shares of the company's stock worth $157,000 after purchasing an additional 21,687 shares during the last quarter. Credit Industriel ET Commercial bought a new stake in Mister Car Wash in the first quarter worth $2,799,000. Abel Hall LLC bought a new stake in Mister Car Wash in the first quarter worth $74,000. Finally, Louisiana State Employees Retirement System bought a new stake in Mister Car Wash in the first quarter worth $304,000.

About Mister Car Wash

Mister Car Wash, traded on the NYSE under the ticker MCW, is a leading provider of vehicle cleaning services in the United States. The company specializes in a tiered range of wash offerings, including express exterior washes, full-service interior and exterior cleaning, and premium detailing services. In addition to one-time washes, Mister Car Wash markets unlimited monthly membership plans that grant customers access to recurring washes at participating locations.

Founded in 1969 and headquartered in Houston, Texas, Mister Car Wash has grown from a single facility to one of the largest car wash chains in the country.

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