Mister Car Wash (NYSE:MCW) Sees Large Volume Increase – Still a Buy?

Mister Car Wash, Inc. (NYSE:MCW) shares saw strong trading volume on Monday . 9,989,100 shares were traded during 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 have recently commented on the company. BMO Capital Markets lowered Mister Car Wash from an “outperform” rating to a “hold” rating and set a $7.00 price target on the stock. in a research note on Thursday, February 19th. Wells Fargo & Company lowered Mister Car Wash from an “overweight” rating to an “equal weight” rating and set a $7.00 price target on the stock. in a research note on Wednesday, February 18th. UBS Group lifted their price target on Mister Car Wash from $6.25 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Morgan Stanley set a $7.00 price objective on Mister Car Wash in a research report on Thursday, February 19th. Finally, Stephens raised their price objective on Mister Car Wash from $6.25 to $7.50 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.10.

Mister Car Wash Stock Performance

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 has a fifty day simple moving average of $7.01 and a two-hundred day simple moving average of $6.19. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24.

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

Institutional Investors Weigh In On Mister Car Wash

Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Mister Car Wash by 75.5% during the second quarter. EverSource Wealth Advisors LLC now owns 7,038 shares of the company’s stock valued at $42,000 after buying an additional 3,027 shares during the last quarter. Quarry LP boosted its position 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 buying an additional 3,016 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Mister Car Wash by 1,104.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,217 shares of the company’s stock valued at $46,000 after buying an additional 7,535 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Mister Car Wash by 18,260.0% during the third quarter. Russell Investments Group Ltd. now owns 8,262 shares of the company’s stock valued at $44,000 after buying an additional 8,217 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Mister Car Wash by 140.0% during the second quarter. Tower Research Capital LLC TRC now owns 9,700 shares of the company’s stock valued at $58,000 after buying an additional 5,659 shares during 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.