Mister Car Wash (NYSE:MCW) Price Target Raised to $9.00

Mister Car Wash (NYSE:MCW) had its target price lifted by Morgan Stanley from $8.00 to $9.00 in a research note released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts also recently issued reports on the company. Stephens assumed coverage on Mister Car Wash in a research note on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price target for the company. UBS Group raised their target price on shares of Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a report on Thursday. Finally, Wells Fargo & Company dropped their target price on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.57.

Mister Car Wash Stock Performance

Shares of NYSE MCW opened at $7.48 on Thursday. The company has a current ratio of 0.27, a quick ratio of 0.24 and a debt-to-equity ratio of 0.96. The stock has a 50 day moving average of $7.45 and a 200-day moving average of $7.14. Mister Car Wash has a 12 month low of $5.84 and a 12 month high of $9.05. The company has a market capitalization of $2.41 billion, a P/E ratio of 25.33, a P/E/G ratio of 1.68 and a beta of 1.63.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total value of $598,147.20. Following the completion of the transaction, the insider now owns 81,206 shares of the company’s stock, valued at $653,708.30. This represents a 47.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 70.00% of the company’s stock.

Institutional Trading of Mister Car Wash

A number of hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in Mister Car Wash by 6,003.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock valued at $23,639,000 after buying an additional 3,571,675 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in Mister Car Wash in the 4th quarter valued at approximately $10,392,000. Marshall Wace LLP raised its stake in shares of Mister Car Wash by 103.5% during the fourth quarter. Marshall Wace LLP now owns 2,152,718 shares of the company’s stock valued at $15,693,000 after acquiring an additional 1,094,751 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mister Car Wash by 43.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company’s stock worth $22,895,000 after purchasing an additional 958,479 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Mister Car Wash by 25.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company’s stock worth $33,127,000 after purchasing an additional 912,944 shares during the last quarter.

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.