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

Shares of Mister Car Wash, Inc. (NYSE:MCW) saw unusually-strong 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.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MCW shares. Mizuho restated 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. BMO Capital Markets cut Mister Car Wash from an “outperform” rating to a “hold” rating and set a $7.00 price objective on the stock. in a research report on Thursday, February 19th. Morgan Stanley set a $7.00 price objective on Mister Car Wash in a research report on Thursday, February 19th. Piper Sandler increased their price objective on Mister Car Wash from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Finally, Guggenheim cut Mister Car Wash from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.10.

Mister Car Wash Price Performance

The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The stock has a market cap of $2.34 billion, a P/E ratio of 32.27, a PEG ratio of 1.65 and a beta of 1.29. The firm has a 50-day simple moving average of $7.01 and a two-hundred day simple moving average of $6.19.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MCW. Empyrean Capital Partners LP acquired a new stake in Mister Car Wash in the first quarter valued at about $29,622,000. Quantinno Capital Management LP boosted its stake in Mister Car Wash by 35.5% in the first quarter. Quantinno Capital Management LP now owns 54,345 shares of the company’s stock valued at $379,000 after buying an additional 14,237 shares in the last quarter. Polar Asset Management Partners Inc. boosted its stake in Mister Car Wash by 961.3% in the first quarter. Polar Asset Management Partners Inc. now owns 2,036,700 shares of the company’s stock valued at $14,196,000 after buying an additional 1,844,800 shares in the last quarter. FourWorld Capital Management LLC acquired a new stake in Mister Car Wash in the first quarter valued at about $8,364,000. Finally, Rangeley Capital LLC acquired a new stake in Mister Car Wash in the first quarter valued at about $1,537,000.

Mister Car Wash Company Profile

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.