William Blair analyst Phillip Blee has maintained their bullish stance on MCW stock, giving a Buy rating on July 28.
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Phillip Blee’s rating is based on the resilience of Mister Car Wash’s membership base despite a decline in retail sales. The company experienced a notable drop in nonmember sales, which decreased by nearly 11%, contrasting with the previous quarters’ growth. This decline was attributed to a more discerning consumer base and external factors like potential tariffs and less favorable weather conditions.
However, the strength of the membership base proved to be a significant positive factor. Membership sales increased by almost 10%, and the total sales contribution from memberships rose by 400 basis points year-over-year. Additionally, there was a nearly 4% growth in average revenue per member, driven by a 15% price increase for base-level members. These factors combined to support a Buy rating from Phillip Blee.
In another report released on July 28, Piper Sandler also maintained a Buy rating on the stock with a $11.00 price target.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MCW in relation to earlier this year.