Mister Car Wash (NYSE:MCW) Coverage Initiated at William Blair

Research analysts at William Blair assumed coverage on shares of Mister Car Wash (NYSE:MCW) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm set an “outperform” rating on the stock.

MCW has been the topic of a number of other research reports. Piper Sandler upgraded shares of Mister Car Wash from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $9.00 to $12.00 in a research note on Monday, August 28th. Guggenheim started coverage on Mister Car Wash in a report on Thursday, June 29th. They issued a “buy” rating and a $11.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy 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 $10.38.

Mister Car Wash Trading Down 0.9 %

NYSE MCW opened at $6.49 on Friday. The company has a 50 day moving average price of $8.21 and a 200 day moving average price of $8.53. Mister Car Wash has a 52 week low of $6.43 and a 52 week high of $11.14. The firm has a market cap of $2.03 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 4.62 and a beta of 1.21. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.05.

Mister Car Wash (NYSE:MCW) last announced its earnings results on Thursday, August 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Mister Car Wash had a net margin of 10.06% and a return on equity of 11.61%. The business had revenue of $236.89 million for the quarter, compared to analyst estimates of $240.54 million. As a group, sell-side analysts forecast that Mister Car Wash will post 0.26 EPS for the current fiscal year.

Insider Activity at Mister Car Wash

In other Mister Car Wash news, COO Mayra Idali Chimienti sold 125,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $8.82, for a total transaction of $1,102,500.00. Following the transaction, the chief operating officer now directly owns 263,774 shares in the company, valued at $2,326,486.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Mister Car Wash news, CEO John Lo-Minn Lai sold 198,200 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $9.74, for a total transaction of $1,930,468.00. Following the sale, the chief executive officer now owns 2,564,226 shares of the company’s stock, valued at $24,975,561.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Mayra Idali Chimienti sold 125,000 shares of Mister Car Wash stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $8.82, for a total transaction of $1,102,500.00. Following the completion of the transaction, the chief operating officer now directly owns 263,774 shares in the company, valued at $2,326,486.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,233,409 shares of company stock worth $10,610,640. Insiders own 71.20% of the company’s stock.

Institutional Trading of Mister Car Wash

Hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC acquired a new stake in Mister Car Wash in the fourth quarter valued at $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of Mister Car Wash in the second quarter valued at approximately $30,000. Clear Street Markets LLC acquired a new stake in shares of Mister Car Wash during the fourth quarter valued at $36,000. National Bank of Canada FI boosted its stake in shares of Mister Car Wash by 39.4% during the first quarter. National Bank of Canada FI now owns 4,950 shares of the company’s stock valued at $43,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Mister Car Wash during the third quarter valued at $45,000.

About Mister Car Wash

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 was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021. Mister Car Wash, Inc was founded in 1969 and is headquartered in Tucson, Arizona.