Mister Car Wash (NYSE:MCW) Shares Gap Up After Analyst Upgrade

Mister Car Wash, Inc. (NYSE:MCW)’s share price gapped up before the market opened on Thursday after Morgan Stanley raised their price target on the stock from $8.00 to $9.00. The stock had previously closed at $7.60, but opened at $8.35. Morgan Stanley currently has an equal weight rating on the stock. Mister Car Wash shares last traded at $7.95, with a volume of 662,766 shares trading hands.

Several other brokerages have also issued reports on MCW. UBS Group raised their target price on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Company decreased their target price 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. Finally, Stephens initiated coverage on Mister Car Wash in a research report on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.57.

Insider Buying and Selling

In other Mister Car Wash news, insider Joseph Duane Matheny sold 6,410 shares of Mister Car Wash stock in a transaction dated Friday, February 14th. The stock was 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 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 filing with the Securities & Exchange Commission, which is available through this link. 70.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in Mister Car Wash by 884.7% during the 3rd quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock valued at $60,000 after buying an additional 7,617 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of Mister Car Wash during the 4th quarter valued at about $77,000. Quarry LP bought a new stake in shares of Mister Car Wash during the 4th quarter valued at about $79,000. Forum Financial Management LP bought a new stake in shares of Mister Car Wash during the 4th quarter valued at about $81,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Mister Car Wash during the 4th quarter valued at about $96,000.

Mister Car Wash Trading Down 1.6 %

The stock has a market cap of $2.41 billion, a P/E ratio of 32.52, a P/E/G ratio of 1.70 and a beta of 1.63. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.24 and a current ratio of 0.27. The stock has a 50-day moving average price of $7.45 and a 200-day moving average price of $7.14.

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.