Mister Car Wash (NYSE:MCW) Shares Gap Up - Here's Why

Mister Car Wash, Inc. (NYSE:MCW - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $6.65, but opened at $7.51. Mister Car Wash shares last traded at $7.55, with a volume of 415,291 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MCW shares. UBS Group raised their price target on Mister Car Wash from $7.50 to $8.00 and gave the company a "neutral" rating in a research note on Thursday. The Goldman Sachs Group lifted their price objective on Mister Car Wash from $5.00 to $6.00 and gave the company a "sell" rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $9.25.

Mister Car Wash Stock Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.25 and a current ratio of 0.28. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 34.07, a P/E/G ratio of 1.93 and a beta of 1.64. The stock's 50-day moving average price is $6.48 and its 200-day moving average price is $6.83.

Mister Car Wash (NYSE:MCW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. Mister Car Wash had a return on equity of 9.90% and a net margin of 7.37%. The firm had revenue of $255.04 million during the quarter, compared to the consensus estimate of $256.65 million. As a group, equities research analysts expect that Mister Car Wash, Inc. will post 0.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MCW. Capstone Investment Advisors LLC purchased a new stake in Mister Car Wash in the 1st quarter worth approximately $2,003,000. Vanguard Group Inc. grew its stake in shares of Mister Car Wash by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 10,082,581 shares of the company's stock valued at $87,114,000 after buying an additional 315,679 shares during the period. AQR Capital Management LLC grew its stake in shares of Mister Car Wash by 763.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company's stock valued at $29,155,000 after buying an additional 3,640,862 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Mister Car Wash by 23.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 762,363 shares of the company's stock valued at $5,428,000 after buying an additional 145,374 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Mister Car Wash by 23.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,779,964 shares of the company's stock valued at $12,673,000 after buying an additional 337,272 shares during the period.

About Mister Car Wash

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. The company serves individual retail and corporate customers. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.