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

Shares of Mister Car Wash, Inc. (NYSE:MCW) saw strong trading volume on Monday . 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 brokerages recently issued reports on MCW. Morgan Stanley set a $7.00 target price on shares of Mister Car Wash in a research 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 note on Friday, February 20th. Wells Fargo & Company downgraded shares of Mister Car Wash from an “overweight” rating to an “equal weight” rating and set a $7.00 price objective for the company. in a research report on Wednesday, February 18th. William Blair lowered Mister Car Wash from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Finally, Stephens raised 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. One analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.10.

Mister Car Wash Trading Down 0.4%

The stock has a 50 day moving average of $6.86 and a 200-day moving average of $5.93. The company has a market capitalization of $2.29 billion, a P/E ratio of 31.75, a P/E/G ratio of 1.65 and a beta of 1.37. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92.

Mister Car Wash (NYSE:MCW) last released its earnings results on Wednesday, February 18th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $261.24 million for the quarter, compared to analysts’ expectations of $262.35 million. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. On average, research analysts predict that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

Institutional Inflows and Outflows

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

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.