Mister Car Wash (NYSE:MCW) Sees Strong Trading Volume - What's Next?

Key Points

• Unusually-high trading volume — about 3.955 million shares traded Monday (up 57% from the prior session) with the stock trading near $6.99 (prior close $7.01).
• Analyst consensus is largely a Hold (13 Holds, 1 Buy, 1 Sell) with an average price target of $7.10 and recent targets revised in the $6.00–$7.50 range.
• Recent quarter: EPS of $0.11 beat estimates by $0.01 while revenue of $261.24M rose 4% YoY but narrowly missed consensus; the company trades at a PE of 31.75 and shows low liquidity (quick ratio 0.24).

Shares of Mister Car Wash, Inc. (NYSE:MCW - Get Free Report) saw unusually-high trading volume on Monday . Approximately 3,955,023 shares traded hands during mid-day trading, an increase of 57% from the previous session's volume of 2,517,130 shares.The stock last traded at $6.9850 and had previously closed at $7.01.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reissued a "neutral" rating and set a $7.00 price target (down from $8.00) on shares of Mister Car Wash in a research report on Monday, February 23rd. William Blair cut Mister Car Wash from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 18th. Morgan Stanley set a $7.00 target price on Mister Car Wash in a research note on Thursday, February 19th. Stephens lifted their target price on Mister Car Wash from $6.25 to $7.50 and gave the stock an "overweight" rating in a report on Wednesday, February 11th. Finally, Piper Sandler upped their price target on Mister Car Wash from $6.00 to $7.00 and gave the company a "neutral" rating in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $7.10.

Mister Car Wash Price Performance

The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. The firm's fifty day moving average price is $6.86 and its two-hundred day moving average price is $5.93. The stock has a market capitalization of $2.29 billion, a PE ratio of 31.75, a PEG ratio of 1.65 and a beta of 1.37.

Mister Car Wash (NYSE:MCW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 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 $261.24 million for the quarter, compared to the consensus estimate of $262.35 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The firm's revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.

Institutional Trading of Mister Car Wash

Several large investors have recently modified their holdings of the company. Greenhouse Funds LLLP increased its position in Mister Car Wash by 9.4% during the third quarter. Greenhouse Funds LLLP now owns 16,863,562 shares of the company's stock valued at $89,883,000 after acquiring an additional 1,444,691 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Mister Car Wash by 9.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,607,392 shares of the company's stock worth $36,738,000 after purchasing an additional 559,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Mister Car Wash by 27.4% in the second quarter. The Manufacturers Life Insurance Company now owns 6,166,833 shares of the company's stock worth $37,063,000 after purchasing an additional 1,327,745 shares during the last quarter. State Street Corp grew its stake in shares of Mister Car Wash by 2.6% during the 4th quarter. State Street Corp now owns 3,633,753 shares of the company's stock valued at $20,204,000 after purchasing an additional 92,304 shares during the period. Finally, Millennium Management LLC increased its position in shares of Mister Car Wash by 28.1% during the 3rd quarter. Millennium Management LLC now owns 2,641,893 shares of the company's stock valued at $14,081,000 after purchasing an additional 579,213 shares during the last quarter.

Mister Car Wash Company Profile

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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