Mister Car Wash (NYSE:MCW) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Mister Car Wash (NYSE:MCW) in a note issued to investors on Tuesday. The brokerage set a “sell” rating and a $6.25 price target on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 6.86% from the company’s previous close.

Several other research analysts have also weighed in on the company. Morgan Stanley lifted their price objective on Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Stephens decreased their price objective on Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. UBS Group dropped their price objective on shares of Mister Car Wash from $8.50 to $8.25 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, Raymond James initiated coverage on Mister Car Wash in a research note on Thursday, March 13th. They set an “outperform” rating and a $10.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Mister Car Wash presently has a consensus rating of “Hold” and a consensus target price of $8.50.

Mister Car Wash Price Performance

MCW opened at $6.71 on Tuesday. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. The company has a fifty day simple moving average of $7.34 and a 200 day simple moving average of $7.56. Mister Car Wash has a 12 month low of $5.84 and a 12 month high of $8.60. The stock has a market cap of $2.18 billion, a P/E ratio of 30.50, a P/E/G ratio of 1.65 and a beta of 1.58.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, beating 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%. During the same period last year, the firm earned $0.08 EPS. Mister Car Wash’s revenue was up 9.4% compared to the same quarter last year. On average, research analysts expect that Mister Car Wash will post 0.33 EPS for the current year.

Insiders Place Their Bets

In related news, insider Joseph Duane Matheny sold 36,452 shares of Mister Car Wash stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $8.01, for a total transaction of $291,980.52. Following the sale, the insider now owns 84,895 shares of the company’s stock, valued at approximately $680,008.95. This trade represents a 30.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jodi Taylor sold 5,205 shares of Mister Car Wash stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $7.06, for a total transaction of $36,747.30. Following the sale, the director now owns 36,932 shares in the company, valued at approximately $260,739.92. The trade was a 12.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,451 shares of company stock valued at $893,453. 69.00% of the stock is owned by insiders.

Institutional Trading of Mister Car Wash

A number of large investors have recently made changes to their positions in MCW. Quantinno Capital Management LP purchased a new stake in Mister Car Wash in the 4th quarter valued at about $77,000. Quarry LP purchased a new position in Mister Car Wash during the 4th quarter worth $79,000. Forum Financial Management LP acquired a new stake in shares of Mister Car Wash during the fourth quarter worth about $81,000. BNP Paribas Financial Markets acquired a new position in shares of Mister Car Wash in the fourth quarter worth about $96,000. Finally, Blue Trust Inc. increased its stake in Mister Car Wash by 59.4% during the 4th quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock worth $98,000 after buying an additional 5,032 shares in the last quarter.

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 serves individual retail and corporate customers. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.