Mister Car Wash (NYSE:MCW) Price Target Raised to $8.50

Mister Car Wash (NYSE:MCW) had its price target upped by UBS Group from $8.00 to $8.50 in a research note issued to investors on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other research firms also recently issued reports on MCW. Stephens began coverage on Mister Car Wash in a research note on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 target price for the company. Wells Fargo & Company cut their price objective on 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, Morgan Stanley decreased their target price on Mister Car Wash from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.57.

Mister Car Wash Trading Down 3.0 %

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

Insider Activity

In other news, insider Joseph Duane Matheny sold 6,410 shares of Mister Car Wash stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $8.01, for a total transaction of $51,344.10. Following the completion of the transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at $650,460.06. The trade was a 7.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 70.00% of the company’s stock.

Institutional Trading of Mister Car Wash

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCW. Blue Trust Inc. boosted its stake in shares of Mister Car Wash by 884.7% during the 3rd quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock worth $60,000 after acquiring an additional 7,617 shares in the last quarter. Versor Investments LP raised its holdings in Mister Car Wash by 78.2% in the 3rd quarter. Versor Investments LP now owns 106,400 shares of the company’s stock worth $693,000 after purchasing an additional 46,700 shares during the period. GSA Capital Partners LLP grew its holdings in Mister Car Wash by 214.9% in the third quarter. GSA Capital Partners LLP now owns 102,307 shares of the company’s stock valued at $666,000 after purchasing an additional 69,817 shares during the period. Victory Capital Management Inc. grew its holdings in Mister Car Wash by 19.5% in the third quarter. Victory Capital Management Inc. now owns 63,576 shares of the company’s stock valued at $414,000 after purchasing an additional 10,377 shares during the period. Finally, MQS Management LLC purchased a new stake in shares of Mister Car Wash in the third quarter valued at approximately $212,000.

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.