Mister Car Wash (NYSE:MCW) Sets New 52-Week Low at $8.56

Mister Car Wash, Inc. (NYSE:MCWGet Rating)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $8.56 and last traded at $8.87, with a volume of 98731 shares trading hands. The stock had previously closed at $9.30.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. The Goldman Sachs Group lowered shares of Mister Car Wash from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $12.00 to $10.00 in a research note on Monday, June 27th. Morgan Stanley lowered shares of Mister Car Wash from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $16.00 to $11.00 in a research note on Friday, August 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.40.

Mister Car Wash Price Performance

The firm’s 50-day moving average is $10.82 and its 200-day moving average is $12.47. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.56 and a quick ratio of 0.51. The company has a market capitalization of $2.65 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 2.24 and a beta of 0.72.

Mister Car Wash (NYSE:MCWGet Rating) last announced its earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business had revenue of $225.16 million for the quarter, compared to the consensus estimate of $218.89 million. Mister Car Wash had a net margin of 16.24% and a return on equity of 18.25%. Analysts predict that Mister Car Wash, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity at Mister Car Wash

In related news, CFO Jedidiah Marc Gold sold 5,378 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $11.47, for a total transaction of $61,685.66. Following the completion of the sale, the chief financial officer now directly owns 838,524 shares in the company, valued at $9,617,870.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Mister Car Wash news, CEO John Lo-Minn Lai sold 34,215 shares of Mister Car Wash stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $11.47, for a total transaction of $392,446.05. Following the transaction, the chief executive officer now owns 2,838,168 shares of the company’s stock, valued at $32,553,786.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jedidiah Marc Gold sold 5,378 shares of Mister Car Wash stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $11.47, for a total transaction of $61,685.66. Following the transaction, the chief financial officer now directly owns 838,524 shares in the company, valued at approximately $9,617,870.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,513 shares of company stock worth $510,564. 71.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mister Car Wash

Several large investors have recently added to or reduced their stakes in the company. Leonard Green & Partners L.P. lifted its holdings in Mister Car Wash by 1.9% during the fourth quarter. Leonard Green & Partners L.P. now owns 219,213,079 shares of the company’s stock valued at $3,991,870,000 after purchasing an additional 4,051,981 shares in the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Mister Car Wash by 23.5% in the first quarter. Wasatch Advisors Inc. now owns 9,989,232 shares of the company’s stock worth $147,741,000 after buying an additional 1,899,664 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Mister Car Wash by 24.3% in the first quarter. Vanguard Group Inc. now owns 6,091,233 shares of the company’s stock worth $90,088,000 after buying an additional 1,189,990 shares in the last quarter. FMR LLC lifted its holdings in shares of Mister Car Wash by 31.5% in the second quarter. FMR LLC now owns 5,926,899 shares of the company’s stock worth $64,485,000 after buying an additional 1,418,924 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Mister Car Wash by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 4,568,455 shares of the company’s stock worth $83,192,000 after buying an additional 125,184 shares in the last quarter.

About Mister Car Wash

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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. As of June 16, 2022, it operated 407 car wash locations in 21 states. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.

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