Brokerages Set Mister Car Wash, Inc. (NYSE:MCW) Price Target at $8.43

Mister Car Wash, Inc. (NYSE:MCW) has been given an average rating of “Hold” by the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $8.50.

Several research analysts have issued reports on MCW shares. Morgan Stanley increased their price objective on Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Stephens cut their price target on shares of Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Thursday. Wells Fargo & Company decreased 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. UBS Group increased their target price on shares of Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Raymond James began coverage on shares of Mister Car Wash in a research report on Thursday, March 13th. They set an “outperform” rating and a $10.00 price target for the company.

Insiders Place Their Bets

In related news, CFO Jedidiah Marc Gold sold 52,989 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $8.52, for a total transaction of $451,466.28. Following the sale, the chief financial officer now owns 55,437 shares of the company’s stock, valued at $472,323.24. This trade represents a 48.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Duane Matheny sold 6,410 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were 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 directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 360,313 shares of company stock worth $2,995,270. Insiders own 70.00% of the company’s stock.

Institutional Investors Weigh In On Mister Car Wash

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Avory & Company LLC boosted its position in Mister Car Wash by 3,298.5% during the first quarter. Avory & Company LLC now owns 791,949 shares of the company’s stock worth $6,248,000 after acquiring an additional 768,646 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Mister Car Wash by 23.8% during the 1st quarter. Handelsbanken Fonder AB now owns 58,300 shares of the company’s stock worth $460,000 after purchasing an additional 11,200 shares during the period. Accurate Wealth Management LLC acquired a new stake in shares of Mister Car Wash during the first quarter worth $983,000. GAMMA Investing LLC grew its position in shares of Mister Car Wash by 1,139.5% in the first quarter. GAMMA Investing LLC now owns 23,773 shares of the company’s stock valued at $188,000 after purchasing an additional 21,855 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in Mister Car Wash in the fourth quarter valued at $213,000.

Mister Car Wash Stock Performance

Shares of MCW stock opened at $7.10 on Thursday. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The stock has a 50 day simple moving average of $7.65 and a 200-day simple moving average of $7.52. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 1.65 and a beta of 1.57. Mister Car Wash has a 12-month low of $5.84 and a 12-month high of $8.60.

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.