Stephens Issues Pessimistic Forecast for Mister Car Wash (NYSE:MCW) Stock Price

Mister Car Wash (NYSE:MCW) had its target price cut by Stephens from $9.00 to $8.50 in a report issued on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

MCW has been the subject of a number of other reports. Raymond James assumed coverage on Mister Car Wash in a research report on Thursday, March 13th. They issued an “outperform” rating and a $10.00 price target for the company. Wells Fargo & Company lowered their price target on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Morgan Stanley raised their price objective on shares of 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. Finally, UBS Group boosted 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, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.50.

Mister Car Wash Price Performance

Shares of NYSE MCW opened at $7.09 on Thursday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 32.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.57. Mister Car Wash has a 52 week low of $5.84 and a 52 week high of $8.60. The firm has a 50-day simple moving average of $7.66 and a 200-day simple moving average of $7.51. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92.

Insiders Place Their Bets

In other news, CFO Jedidiah Marc Gold sold 52,989 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $8.52, for a total value of $451,466.28. Following the sale, the chief financial officer now directly owns 55,437 shares in the company, valued at approximately $472,323.24. This trade represents a 48.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph Duane Matheny sold 36,452 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $8.01, for a total value of $291,980.52. Following the transaction, the insider now directly owns 84,895 shares of the company’s stock, valued at $680,008.95. The trade was a 30.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 360,313 shares of company stock worth $2,995,270 in the last ninety days. 70.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mister Car Wash

Several institutional investors have recently modified their holdings of MCW. Quantinno Capital Management LP purchased a new position in shares of Mister Car Wash in the 4th quarter valued at about $77,000. Quarry LP purchased a new position in shares of Mister Car Wash in the 4th quarter valued at $79,000. Forum Financial Management LP purchased a new position in shares of Mister Car Wash during the fourth quarter worth about $81,000. BNP Paribas Financial Markets purchased a new stake in shares of Mister Car Wash in the 4th quarter valued at about $96,000. Finally, Blue Trust Inc. grew its stake in Mister Car Wash by 59.4% during the 4th quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock worth $98,000 after buying 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.