Mister Car Wash (NYSE:MCW) Sees Unusually-High Trading Volume After Strong Earnings

Mister Car Wash, Inc. (NYSE:MCWGet Free Report) saw an uptick in trading volume on Thursday following a stronger than expected earnings report. 3,011,764 shares traded hands during mid-day trading, an increase of 29% from the previous session’s volume of 2,330,270 shares.The stock last traded at $6.9950 and had previously closed at $6.98.

The company reported $0.11 EPS for the quarter, topping the consensus estimate 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 had revenue of $261.24 million for the quarter, compared to the consensus estimate of $262.35 million. During the same period last year, the company earned $0.09 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year.

Key Mister Car Wash News

Here are the key news stories impacting Mister Car Wash this week:

Analysts Set New Price Targets

A number of brokerages have issued reports on MCW. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $7.00 target price on shares of Mister Car Wash in a research note on Wednesday. Morgan Stanley set a $7.00 price target on Mister Car Wash in a research report on Thursday. BMO Capital Markets cut shares of Mister Car Wash from an “outperform” rating to a “market perform” rating and set a $7.00 price objective for the company. in a research note on Thursday. Zacks Research raised shares of Mister Car Wash from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Finally, The Goldman Sachs Group set a $5.25 target price on Mister Car Wash in a research note on Friday, October 31st. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.19.

View Our Latest Report on Mister Car Wash

Institutional Trading of Mister Car Wash

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Breach Inlet Capital Management LLC acquired a new position in Mister Car Wash in the 4th quarter valued at approximately $9,583,000. Greenhouse Funds LLLP grew its stake in shares of Mister Car Wash by 9.4% in the third quarter. Greenhouse Funds LLLP now owns 16,863,562 shares of the company’s stock worth $89,883,000 after purchasing an additional 1,444,691 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Mister Car Wash by 303.1% in the third quarter. Bank of America Corp DE now owns 1,811,457 shares of the company’s stock worth $9,655,000 after purchasing an additional 1,362,094 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings 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 valued at $37,063,000 after purchasing an additional 1,327,745 shares during the period. Finally, Voss Capital LP bought a new position in Mister Car Wash during the 4th quarter worth $7,211,000.

Mister Car Wash Price Performance

The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 31.68, a P/E/G ratio of 1.65 and a beta of 1.46. The company has a fifty day simple moving average of $5.85 and a 200 day simple moving average of $5.53. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53.

Mister Car Wash Company Profile

(Get Free Report)

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.

Further Reading

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