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Mister Car Wash, Inc. (NYSE:MCW) Receives $23.33 Average Target Price from Brokerages

By Michael J. Moody 4 months ago

Shares of Mister Car Wash, Inc. (NYSE:MCW – Get Rating) have received an average recommendation of “Hold” from the eleven analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $23.33.

A number of equities analysts have issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Mister Car Wash in a report on Thursday, February 3rd. They issued a “hold” rating and a $20.00 target price on the stock. FIG Partners upgraded shares of Mister Car Wash to a “reduce” rating in a research note on Tuesday, November 16th. Zacks Investment Research lowered shares of Mister Car Wash from a “buy”

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Average new-car transaction prices are up 13% this year

By Michael J. Moody 7 months ago

New cars populate the front row and obscure the street-level view of an otherwise empty new-car lot at Toyota of Orange in Orange, Calif., in November. (Getty Images)

 

In today’s installment of the U.S. inflation story — and how new and used vehicle prices are major factors driving it — we hear from the folks at vehicle valuator Kelley Blue Book, who note that new car prices had another modest increase in November to keep them in record territory. KBB reports that average new-car transaction prices are up more than 13% from November 2020.

People still need cars. Dealer inventories are low, due largely to the worldwide microchip shortage and other supply-chain issues (plus a growing realization on the part of both dealers and automakers that they can maintain smaller inventories going forward). So dealers have responded to that basic supply-and-demand situation in a predictable way, by holding prices at

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Sticker shock: Average new car prices hit a record $41,000 in July

By Michael J. Moody 11 months ago

Test drive: 2021 Honda Ridgeline

The Honda Ridgeline has been redesigned for 2021 to make it look more like a traditional pickup, but Fox News Autos Editor Gary Gastelu says it remains a unique option in the midsize class.

The number of new cars being sold is from record levels, but the prices being paid for them are the highest ever.

According to the J.D. Power and LMC Automotive Forecast, the average transaction price for a new vehicle is projected to be $41,044 during the month of July, a 17% increase over last year.

High demand is meeting low inventories caused by the ongoing semiconductor shortage hampering production across the industry, which has led to a drop in incentives and more cars selling for list price or even more.

“Eight percent consumers are paying near or above MSRP, which is driving up dealer profitability over 200% compared to 2019. But

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You thought new cars were expensive? The average used car price is also absurd

By Michael J. Moody 11 months ago
Used cars

The car market is absolutely bonkers right now.


Justin Sullivan/Getty Images

We’ve written a lot about new car prices and their absurdity in the past few months as demand outstrips supply. Basically, manufacturing shortages have been leaving automakers without enough new cars to sell to eager buyers. So a ton of shoppers turned to the used car market — and that shows big-time. This past Thursday, Cox Automotive released fresh data that shows the average used car now costs, are you ready for it, $25,101 as of June 2021.

Here’s my first thought: That’s more than a brand-new Honda Civic. I need to say that to help put the dollar figure into perspective because a $25,000 car is not cheap. We’re not talking ultralow-mileage machines, either. Data showed the average mileage on these cars is 68,613 miles, or about five to six years’ worth of driving. So, we’re really

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