Mizuho Securities analyst David Bellinger has maintained their bullish stance on MCW stock, giving a Buy rating on February 20.
David Bellinger has given his Buy rating due to a combination of factors that highlight Mister Car Wash’s strategic positioning and financial performance. He appreciates the company’s cautious approach in contrast to its peers, avoiding aggressive expansion and instead focusing on sustainable growth through the development of over 30 new locations annually. This strategy allows Mister Car Wash to selectively enter new markets and capitalize on smaller-scale opportunities, which Bellinger views as a prudent path forward.
Additionally, Bellinger notes Mister Car Wash’s strong profitability metrics, with an adjusted EBITDA per unit significantly higher than that of its competitors. The company’s consistent performance, marked by accelerating comparable sales growth and double-digit adjusted EBITDA growth over recent quarters, further underscores its value. Trading at a valuation below 10 times forward EV/EBITDA, Mister Car Wash is seen as an undervalued asset, supporting Bellinger’s $11 price target based on a 12 times multiple of the FY26 estimated adjusted EBITDA.
In another report released on February 20, BMO Capital also maintained a Buy rating on the stock with a $11.00 price target.
Based on the recent corporate insider activity of 50 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.