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

Shares of Mister Car Wash, Inc. (NYSE:MCW) 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.

MCW has been the topic of several other reports. UBS Group increased their price objective on shares of Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a report on Thursday. Stephens initiated coverage on shares of Mister Car Wash in a report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price objective on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.57.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $8.05, for a total value of $598,147.20. Following the completion of the sale, the insider now owns 81,206 shares of the company’s stock, valued at approximately $653,708.30. This represents a 47.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 70.00% of the company’s stock.

Institutional Investors Weigh In On Mister Car Wash

Several large investors have recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of Mister Car Wash by 884.7% during the third 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. Quantinno Capital Management LP bought a new stake in shares of Mister Car Wash during the fourth quarter worth $77,000. Quarry LP bought a new stake in shares of Mister Car Wash during the fourth quarter worth $79,000. Forum Financial Management LP bought a new stake in shares of Mister Car Wash during the fourth quarter worth $81,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Mister Car Wash during the fourth quarter worth $96,000.

Mister Car Wash Price Performance

The company’s 50-day moving average price is $7.45 and its 200-day moving average price is $7.14. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.27 and a quick ratio of 0.24. The company has a market cap of $2.34 billion, a P/E ratio of 32.98, a P/E/G ratio of 1.68 and a beta of 1.63.

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.