Mister Car Wash (NYSE:MCW) Shares Gap Up to $10.14

Mister Car Wash, Inc. (NYSE:MCWGet Rating) gapped up before the market opened on Friday . The stock had previously closed at $10.14, but opened at $10.63. Mister Car Wash shares last traded at $10.25, with a volume of 24,520 shares traded.

Analysts Set New Price Targets

MCW has been the subject of several research analyst reports. Morgan Stanley lowered Mister Car Wash from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $16.00 to $11.00 in a research report on Friday, August 12th. The Goldman Sachs Group downgraded shares of Mister Car Wash from a “neutral” rating to a “sell” rating and cut their price target for the stock from $12.00 to $10.00 in a research note on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Mister Car Wash presently has an average rating of “Hold” and a consensus target price of $16.86.

Mister Car Wash Trading Up 4.4 %

The business’s 50-day moving average is $11.15 and its 200 day moving average is $12.83. The firm has a market capitalization of $3.22 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 2.56 and a beta of 0.72. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.56 and a quick ratio of 0.51.

Mister Car Wash (NYSE:MCWGet Rating) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Mister Car Wash had a net margin of 16.24% and a return on equity of 18.25%. The firm had revenue of $225.16 million during the quarter, compared to the consensus estimate of $218.89 million. As a group, analysts anticipate that Mister Car Wash, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity at Mister Car Wash

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 5,378 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $11.47, for a total value of $61,685.66. Following the completion of the transaction, the chief financial officer now owns 838,524 shares of the company’s stock, valued at approximately $9,617,870.28. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 5,378 shares of the firm’s stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $11.47, for a total value of $61,685.66. Following the sale, the chief financial officer now owns 838,524 shares of the company’s stock, valued at approximately $9,617,870.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John Lo-Minn Lai sold 34,215 shares of the company’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $11.47, for a total value of $392,446.05. Following the transaction, the chief executive officer now directly owns 2,838,168 shares of the company’s stock, valued at approximately $32,553,786.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,513 shares of company stock worth $510,564. 71.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mister Car Wash

A number of large investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in shares of Mister Car Wash in the 2nd quarter valued at approximately $30,000. MetLife Investment Management LLC purchased a new position in shares of Mister Car Wash in the 1st quarter valued at approximately $63,000. Whittier Trust Co. purchased a new position in shares of Mister Car Wash in the second quarter worth about $86,000. Quantbot Technologies LP acquired a new stake in Mister Car Wash during the 1st quarter valued at approximately $87,000. Finally, Captrust Financial Advisors boosted its holdings in Mister Car Wash by 19,305.7% in the first quarter. Captrust Financial Advisors now owns 6,792 shares of the company’s stock valued at $100,000 after purchasing an additional 6,757 shares during the last quarter.

About Mister Car Wash

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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. As of June 16, 2022, it operated 407 car wash locations in 21 states. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.

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