Mister Car Wash (NYSE:MCW) Issues Quarterly Earnings Results

Mister Car Wash (NYSE:MCW) announced its quarterly earnings data on Wednesday. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01, Briefing.com reports. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The company had revenue of $261.24 million for the quarter, compared to the consensus estimate of $262.35 million. During the same period in the prior year, the firm posted $0.09 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year.

Mister Car Wash Price Performance

Shares of MCW opened at $6.97 on Friday. 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’s 50 day moving average is $5.85 and its two-hundred day moving average is $5.53. Mister Car Wash has a twelve month low of $4.61 and a twelve month high of $8.60. The firm has a market capitalization of $2.28 billion, a PE ratio of 31.68, a P/E/G ratio of 1.65 and a beta of 1.46.

Institutional Trading of Mister Car Wash

A number of institutional investors have recently modified their holdings of MCW. Quarry LP grew its holdings in Mister Car Wash by 65.7% during the third quarter. Quarry LP now owns 7,604 shares of the company’s stock worth $41,000 after acquiring an additional 3,016 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Mister Car Wash by 75.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,038 shares of the company’s stock worth $42,000 after purchasing an additional 3,027 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Mister Car Wash by 18,260.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,262 shares of the company’s stock valued at $44,000 after purchasing an additional 8,217 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Mister Car Wash by 1,104.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,217 shares of the company’s stock valued at $46,000 after purchasing an additional 7,535 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in Mister Car Wash during the third quarter worth about $56,000.

Analyst Upgrades and Downgrades

MCW has been the topic of several recent analyst reports. Stephens increased their target price on Mister Car Wash from $6.25 to $7.50 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Raymond James Financial cut Mister Car Wash from an “outperform” rating to a “market perform” rating in a research report on Friday. UBS Group increased their price objective on Mister Car Wash from $6.25 to $7.00 and gave the company a “neutral” rating in a report on Thursday. BMO Capital Markets lowered Mister Car Wash from an “outperform” rating to a “hold” rating and set a $7.00 target price on the stock. in a research report on Thursday. Finally, Wells Fargo & Company downgraded Mister Car Wash from an “overweight” rating to an “equal weight” rating and set a $7.00 price target for the company. in a report on Wednesday. Two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mister Car Wash currently has a consensus rating of “Hold” and an average target price of $7.19.

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.