Mister Car Wash (NYSE:MCW) Sees Strong Trading Volume – Here’s What Happened

Mister Car Wash, Inc. (NYSE:MCW) saw unusually-high trading volume on Monday . Approximately 9,989,100 shares traded hands during mid-day trading, an increase of 251% from the previous session’s volume of 2,845,045 shares.The stock last traded at $7.0850 and had previously closed at $7.10.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Guggenheim lowered shares of Mister Car Wash from a “buy” rating to a “neutral” rating in a report on Wednesday, February 18th. Raymond James Financial lowered shares of Mister Car Wash from a “moderate buy” rating to a “hold” rating in a report on Friday, February 20th. Mizuho reiterated a “neutral” rating and issued a $7.00 price target (down from $8.00) on shares of Mister Car Wash in a research note on Wednesday, February 18th. Stephens raised their price target on shares of Mister Car Wash from $6.25 to $7.50 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Finally, Piper Sandler raised their price target on shares of Mister Car Wash from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.10.

Mister Car Wash Price Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24. The firm has a market capitalization of $2.34 billion, a P/E ratio of 32.27, a P/E/G ratio of 1.65 and a beta of 1.29. The stock’s fifty day simple moving average is $7.01 and its 200 day simple moving average is $6.22.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The company had revenue of $277.91 million for the quarter, compared to the consensus estimate of $274.41 million. During the same quarter in the prior year, the company earned $0.11 EPS. Mister Car Wash’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts predict that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Mister Car Wash

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tudor Investment Corp ET AL raised its holdings in shares of Mister Car Wash by 24.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,209,493 shares of the company’s stock worth $6,447,000 after purchasing an additional 235,817 shares during the period. Freestone Capital Holdings LLC bought a new position in Mister Car Wash during the 4th quarter worth approximately $1,804,000. Greenhouse Funds LLLP lifted its holdings in shares of Mister Car Wash by 9.4% in the 3rd 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. Western Standard LLC bought a new stake in Mister Car Wash during the 3rd quarter valued at $4,144,000. Finally, Dynamic Technology Lab Private Ltd raised its stake in Mister Car Wash by 280.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 137,587 shares of the company’s stock valued at $733,000 after acquiring an additional 101,403 shares in the last quarter.

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.