Mister Car Wash (NYSE:MCW) Now Covered by Raymond James

Raymond James started coverage on shares of Mister Car Wash (NYSE:MCW) in a report published on Thursday morning, MarketBeat reports. The brokerage issued an outperform rating and a $10.00 price target on the stock.

A number of other analysts have also issued reports on MCW. UBS Group boosted their price objective on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Wells Fargo & Company decreased their price target on 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. Stephens initiated coverage on shares of Mister Car Wash in a research report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price objective for the company. Finally, Morgan Stanley upped their target price on shares of Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mister Car Wash has an average rating of “Hold” and a consensus price target of $8.75.

Mister Car Wash Stock Up 0.1 %

Mister Car Wash stock opened at $7.79 on Thursday. The firm has a 50 day simple moving average of $7.63 and a 200 day simple moving average of $7.27. 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 1-year low of $5.84 and a 1-year high of $8.56. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 35.41, a P/E/G ratio of 1.65 and a beta of 1.60.

Insider Activity at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 74,304 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total transaction of $598,147.20. Following the transaction, the insider now directly owns 81,206 shares in the company, valued at approximately $653,708.30. This represents a 47.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jedidiah Marc Gold sold 42,278 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $8.50, for a total transaction of $359,363.00. Following the completion of the sale, the chief financial officer now owns 44,854 shares of the company’s stock, valued at approximately $381,259. The trade was a 48.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,272 shares of company stock valued at $2,247,041 over the last three months. 70.00% of the stock is owned by corporate insiders.

Institutional Trading of Mister Car Wash

A number of institutional investors have recently modified their holdings of MCW. FIL Ltd raised its holdings in Mister Car Wash by 2.4% in the 4th quarter. FIL Ltd now owns 9,915,100 shares of the company’s stock worth $72,281,000 after purchasing an additional 230,100 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Mister Car Wash by 25.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company’s stock valued at $33,127,000 after buying an additional 912,944 shares during the period. The Manufacturers Life Insurance Company raised its stake in Mister Car Wash by 6,003.1% in the third quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock worth $23,639,000 after buying an additional 3,571,675 shares in the last quarter. State Street Corp lifted its holdings in Mister Car Wash by 1.9% in the third quarter. State Street Corp now owns 3,375,939 shares of the company’s stock worth $21,977,000 after buying an additional 63,631 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Mister Car Wash by 43.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company’s stock valued at $22,895,000 after acquiring an additional 958,479 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.