UBS Group Increases Mister Car Wash (NYSE:MCW) Price Target to $8.50

Mister Car Wash (NYSE:MCW) had its target price increased by UBS Group from $8.00 to $8.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 17.16% from the stock’s previous close.

Several other brokerages have also recently issued reports on MCW. Wells Fargo & Company reduced their price objective on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Stephens began coverage on Mister Car Wash in a research note on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on Mister Car Wash from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. One 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 stock. According to data from MarketBeat, Mister Car Wash presently has a consensus rating of “Hold” and a consensus price target of $8.57.

Mister Car Wash Stock Performance

Mister Car Wash stock opened at $7.26 on Thursday. The stock has a 50 day moving average of $7.45 and a 200-day moving average of $7.14. Mister Car Wash has a 52 week low of $5.84 and a 52 week high of $8.59. The stock has a market cap of $2.34 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 1.68 and a beta of 1.63. The company has a current ratio of 0.27, a quick ratio of 0.24 and a debt-to-equity ratio of 0.96.

Insiders Place Their Bets

In other Mister Car Wash news, insider Joseph Duane Matheny sold 74,304 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total value of $598,147.20. Following the sale, the insider now directly owns 81,206 shares of the company’s stock, valued at $653,708.30. This trade represents a 47.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 70.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mister Car Wash

Several large investors have recently added to or reduced their stakes in MCW. The Manufacturers Life Insurance Company increased its position 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 during the period. Divisadero Street Capital Management LP acquired a new stake in Mister Car Wash in the fourth quarter worth $10,392,000. Marshall Wace LLP increased its position in Mister Car Wash by 103.5% in the fourth quarter. Marshall Wace LLP now owns 2,152,718 shares of the company’s stock worth $15,693,000 after buying an additional 1,094,751 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Mister Car Wash by 43.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company’s stock valued at $22,895,000 after purchasing an additional 958,479 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings 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 purchasing an additional 912,944 shares during the period.

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.