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

Shares of Mister Car Wash, Inc. (NYSE:MCW) saw unusually-high trading volume on Thursday . Approximately 3,236,840 shares were traded during mid-day trading, an increase of 21% from the previous session’s volume of 2,667,864 shares.The stock last traded at $6.9750 and had previously closed at $6.96.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. BMO Capital Markets downgraded shares of Mister Car Wash from an “outperform” rating to a “hold” rating and set a $7.00 price objective on the stock. in a research note on Thursday, February 19th. William Blair lowered Mister Car Wash from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Morgan Stanley set a $7.00 price objective on Mister Car Wash in a research note on Thursday, February 19th. UBS Group boosted their target price on shares of Mister Car Wash from $6.25 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Finally, Raymond James Financial downgraded shares of Mister Car Wash from a “moderate buy” rating to a “hold” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Mister Car Wash presently has an average rating of “Hold” and an average price target of $7.10.

Mister Car Wash Stock Down 0.3%

The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41. The stock has a 50-day moving average of $6.39 and a 200-day moving average of $5.71. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92.

Mister Car Wash (NYSE:MCW) last issued its earnings results on Wednesday, February 18th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%.The firm had revenue of $261.24 million for the quarter, compared to analyst estimates of $262.35 million. During the same period last year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts forecast that Mister Car Wash, Inc. will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of Mister Car Wash by 75.5% in the second quarter. EverSource Wealth Advisors LLC now owns 7,038 shares of the company’s stock valued at $42,000 after purchasing an additional 3,027 shares during the period. Quarry LP grew its holdings in Mister Car Wash by 65.7% in the 3rd quarter. Quarry LP now owns 7,604 shares of the company’s stock worth $41,000 after buying an additional 3,016 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Mister Car Wash by 1,104.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,217 shares of the company’s stock worth $46,000 after buying an additional 7,535 shares in the last quarter. Russell Investments Group Ltd. increased its position in 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 acquiring an additional 8,217 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Mister Car Wash by 140.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,700 shares of the company’s stock valued at $58,000 after acquiring an additional 5,659 shares during the period.

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.