Mister Car Wash (NYSE:MCW) Hits New 1-Year High – Here’s What Happened

Shares of Mister Car Wash, Inc. (NYSE:MCW) reached a new 52-week high during trading on Tuesday . The stock traded as high as $8.56 and last traded at $8.51, with a volume of 345956 shares traded. The stock had previously closed at $8.36.

Analyst Ratings Changes

A number of research analysts have weighed in on MCW shares. Stephens began coverage on Mister Car Wash in a research note on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 price target on the stock. Morgan Stanley increased their target price on Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. UBS Group lifted their price target on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a report on Thursday, February 20th. Wells Fargo & Company cut their price objective on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Raymond James started coverage on shares of Mister Car Wash in a report on Thursday, March 13th. They issued an “outperform” rating and a $10.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Mister Car Wash currently has an average rating of “Hold” and a consensus target price of $8.43.

Mister Car Wash Stock Up 1.2 %

The stock has a fifty day moving average price of $7.83 and a 200-day moving average price of $7.39. The firm has a market cap of $2.74 billion, a PE ratio of 38.50, a PEG ratio of 1.65 and a beta of 1.60. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, insider Joseph Duane Matheny sold 74,304 shares of the firm’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 transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at $653,708.30. This trade represents a 47.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jedidiah Marc Gold sold 42,278 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $8.50, for a total value of $359,363.00. Following the completion of the sale, the chief financial officer now directly owns 44,854 shares of the company’s stock, valued at $381,259. The trade was a 48.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 307,324 shares of company stock valued at $2,543,804 over the last ninety days. Corporate 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 MCW. Quantinno Capital Management LP purchased a new position in shares of Mister Car Wash in the fourth quarter valued at $77,000. Quarry LP acquired a new position in Mister Car Wash in the 4th quarter worth $79,000. Forum Financial Management LP purchased a new position in Mister Car Wash in the 4th quarter valued at about $81,000. BNP Paribas Financial Markets acquired a new stake in shares of Mister Car Wash during the fourth quarter valued at about $96,000. Finally, Blue Trust Inc. increased its position in shares of Mister Car Wash by 59.4% during the fourth quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock worth $98,000 after acquiring an additional 5,032 shares during the last quarter.

Mister Car Wash Company Profile

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.