Mister Car Wash (NYSE:MCW) Given New $8.50 Price Target at Stephens

Mister Car Wash (NYSE:MCW) had its price objective lowered by Stephens from $9.00 to $8.50 in a report released on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company decreased their price target 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. Morgan Stanley increased their price objective on shares of 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. UBS Group increased their price target on Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Raymond James initiated coverage on shares of Mister Car Wash in a research report on Thursday, March 13th. They issued an “outperform” rating and a $10.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.50.

Mister Car Wash Stock Performance

Shares of MCW stock opened at $7.10 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24. Mister Car Wash has a one year low of $5.84 and a one year high of $8.60. The business’s 50 day simple moving average is $7.65 and its 200 day simple moving average is $7.52. The stock has a market capitalization of $2.31 billion, a PE ratio of 32.27, a PEG ratio of 1.65 and a beta of 1.57.

Insider Transactions at Mister Car Wash

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 52,989 shares of Mister Car Wash stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $8.52, for a total value of $451,466.28. Following the sale, the chief financial officer now owns 55,437 shares of the company’s stock, valued at approximately $472,323.24. The trade was a 48.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Lo-Minn Lai sold 22,039 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.44, for a total transaction of $186,009.16. Following the sale, the chief executive officer now owns 4,479,420 shares of the company’s stock, valued at approximately $37,806,304.80. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 360,313 shares of company stock worth $2,995,270 in the last quarter. 70.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Mister Car Wash

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

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.