Mister Car Wash (NYSE:MCW) Sees Large Volume Increase – Should You Buy?

Shares of Mister Car Wash, Inc. (NYSE:MCW) saw an uptick in trading volume on Thursday . 3,236,840 shares traded hands during trading, an increase of 21% from the previous session’s volume of 2,667,864 shares.The stock last traded at $6.9750 and had previously closed at $6.96.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Guggenheim lowered shares of Mister Car Wash from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 18th. BMO Capital Markets lowered shares of Mister Car Wash from an “outperform” rating to a “hold” rating and set a $7.00 target price for the company. in a report on Thursday, February 19th. Mizuho reaffirmed a “neutral” rating and set a $7.00 price target (down from $8.00) on shares of Mister Car Wash in a research note on Wednesday, February 18th. William Blair lowered shares of Mister Car Wash from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Finally, Morgan Stanley set a $7.00 price objective on shares of Mister Car Wash in a research note on Thursday, February 19th. One analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.10.

Mister Car Wash Stock Performance

The firm has a market cap of $2.29 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41. The business has a 50 day simple moving average of $6.36 and a two-hundred day simple moving average of $5.69. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92.

Mister Car Wash (NYSE:MCW) last issued its earnings results on Wednesday, February 18th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $261.24 million during the quarter, compared to analyst estimates of $262.35 million. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 earnings per share. As a group, equities research analysts forecast that Mister Car Wash, Inc. will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mister Car Wash

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in shares of Mister Car Wash by 65.7% during the third quarter. Quarry LP now owns 7,604 shares of the company’s stock valued at $41,000 after acquiring an additional 3,016 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Mister Car Wash by 75.5% in the second quarter. EverSource Wealth Advisors LLC now owns 7,038 shares of the company’s stock worth $42,000 after purchasing an additional 3,027 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Mister Car Wash by 18,260.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,262 shares of the company’s stock worth $44,000 after purchasing an additional 8,217 shares during the period. PNC Financial Services Group Inc. raised its position in Mister Car Wash by 1,104.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,217 shares of the company’s stock valued at $46,000 after purchasing an additional 7,535 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new stake in Mister Car Wash during the 4th quarter valued at $56,000.

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.