Mister Car Wash (NYSE:MCW) Coverage Initiated at Raymond James

Equities research analysts at Raymond James assumed coverage on shares of Mister Car Wash (NYSE:MCW) in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage set an “outperform” rating and a $10.00 price target on the stock. Raymond James’ price objective would suggest a potential upside of 26.10% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company dropped their price objective on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, January 6th. UBS Group upped their price objective on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a report on Thursday, February 20th. Stephens initiated coverage on Mister Car Wash in a report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price objective for the company. Finally, Morgan Stanley boosted their target price on Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mister Car Wash has an average rating of “Hold” and an average price target of $8.75.

Mister Car Wash Trading Up 1.8 %

NYSE MCW opened at $7.93 on Thursday. The stock has a 50-day simple moving average of $7.64 and a 200 day simple moving average of $7.28. The company has a market capitalization of $2.57 billion, a PE ratio of 36.05, a P/E/G ratio of 1.65 and a beta of 1.60. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. Mister Car Wash has a 12 month low of $5.84 and a 12 month high of $8.56.

Insider Buying and Selling at Mister Car Wash

In related news, CEO John Lo-Minn Lai sold 22,039 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.44, for a total transaction of $186,009.16. Following the completion of the transaction, the chief executive officer now directly owns 4,479,420 shares in the company, valued at approximately $37,806,304.80. This trade represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jedidiah Marc Gold sold 93,121 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.51, for a total value of $792,459.71. Following the completion of the transaction, the chief financial officer now owns 55,437 shares of the company’s stock, valued at approximately $471,768.87. This represents a 62.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,272 shares of company stock valued at $2,247,041. Company insiders own 70.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Quantinno Capital Management LP bought a new position in Mister Car Wash in the fourth quarter valued at approximately $77,000. Quarry LP bought a new position in Mister Car Wash in the fourth quarter valued at approximately $79,000. Forum Financial Management LP bought a new position in Mister Car Wash in the fourth quarter valued at approximately $81,000. BNP Paribas Financial Markets bought a new position in Mister Car Wash in the fourth quarter valued at approximately $96,000. Finally, Blue Trust Inc. grew its stake in Mister Car Wash by 59.4% in the fourth quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock valued at $98,000 after purchasing an additional 5,032 shares in 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.