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

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

MCW has been the topic of a number of other research reports. Stephens assumed coverage on Mister Car Wash in a research report on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 price objective on the stock. UBS Group boosted their target price on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Company lowered their price target on 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Mister Car Wash has a consensus rating of “Hold” and a consensus price target of $8.57.

Mister Car Wash Stock Down 3.0 %

Shares of MCW opened at $7.26 on Thursday. The stock has a market capitalization of $2.34 billion, a PE ratio of 32.98, a P/E/G ratio of 1.65 and a beta of 1.63. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The firm’s 50 day moving average is $7.45 and its 200-day moving average is $7.15. Mister Car Wash has a 12 month low of $5.84 and a 12 month high of $8.59.

Insider Transactions at Mister Car Wash

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Forum Financial Management LP purchased a new stake in Mister Car Wash in the 4th quarter valued at $81,000. Neo Ivy Capital Management purchased a new stake in shares of Mister Car Wash in the 4th quarter worth about $381,000. PharVision Advisers LLC purchased a new stake in shares of Mister Car Wash in the fourth quarter valued at $330,000. Sherbrooke Park Advisers LLC purchased a new stake in Mister Car Wash in the 4th quarter worth approximately $145,000. Finally, ProShare Advisors LLC grew its holdings in Mister Car Wash by 46.0% in the fourth quarter. ProShare Advisors LLC now owns 28,548 shares of the company’s stock valued at $208,000 after purchasing an additional 8,991 shares during the period.

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.