Mister Car Wash (NYSE:MCW) Shares Gap Down - Time to Sell?

Mister Car Wash, Inc. (NYSE:MCW - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $6.71, but opened at $6.57. Mister Car Wash shares last traded at $6.45, with a volume of 684,227 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley upped their price objective on Mister Car Wash from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. Raymond James started coverage on Mister Car Wash in a report on Thursday, March 13th. They set an "outperform" rating and a $10.00 price target on the stock. Stephens reduced their price objective on 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. The Goldman Sachs Group started coverage on shares of Mister Car Wash in a report on Tuesday. They set a "sell" rating and a $6.25 price target on the stock. Finally, UBS Group lowered their price objective on shares of Mister Car Wash from $8.50 to $8.25 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $8.50.

Mister Car Wash Price Performance

The firm has a 50-day simple moving average of $7.28 and a 200-day simple moving average of $7.55. The firm has a market capitalization of $2.15 billion, a PE ratio of 30.14, a PEG ratio of 1.65 and a beta of 1.56. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24.

Mister Car Wash (NYSE:MCW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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 business's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. As a group, equities analysts forecast that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.

Insider Transactions at Mister Car Wash

In other Mister Car Wash news, insider Joseph Duane Matheny sold 36,452 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $8.01, for a total value of $291,980.52. Following the completion of the sale, the insider now owns 84,895 shares in the company, valued at $680,008.95. This represents a 30.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jodi Taylor sold 5,205 shares of Mister Car Wash stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $7.06, for a total value of $36,747.30. Following the transaction, the director now directly owns 36,932 shares in the company, valued at approximately $260,739.92. The trade was a 12.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 211,560 shares of company stock worth $1,576,563 in the last 90 days. 69.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mister Car Wash

Several large investors have recently added to or reduced their stakes in MCW. Driehaus Capital Management LLC purchased a new stake in shares of Mister Car Wash in the first quarter worth $12,415,000. Divisadero Street Capital Management LP purchased a new stake in shares of Mister Car Wash during the fourth quarter worth about $10,392,000. Marshall Wace LLP raised its stake in Mister Car Wash by 103.5% during the 4th quarter. Marshall Wace LLP now owns 2,152,718 shares of the company's stock valued at $15,693,000 after purchasing an additional 1,094,751 shares during the period. Dimensional Fund Advisors LP raised its stake in Mister Car Wash by 43.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company's stock valued at $22,895,000 after purchasing an additional 958,479 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Mister Car Wash by 25.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company's stock worth $33,127,000 after purchasing an additional 912,944 shares in the last quarter.

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.