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

Mister Car Wash, Inc. (NYSE:MCW)’s share price gapped up before the market opened on Thursday after UBS Group raised their price target on the stock from $8.00 to $8.50. The stock had previously closed at $7.60, but opened at $8.35. UBS Group currently has a neutral rating on the stock. Mister Car Wash shares last traded at $7.95, with a volume of 662,766 shares changing hands.

MCW has been the topic of a number of other research reports. Stephens began 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 target price on the stock. Wells Fargo & Company lowered their target price on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley dropped their target price on Mister Car Wash from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.43.

Insider Activity at Mister Car Wash

In related news, insider Joseph Duane Matheny sold 74,304 shares of Mister Car Wash stock in a transaction 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 sale, the insider now owns 81,206 shares in the company, valued at $653,708.30. The trade was a 47.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 70.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mister Car Wash

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Mister Car Wash by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,791 shares of the company’s stock worth $392,000 after buying an additional 2,364 shares during the period. Swiss National Bank grew its holdings in shares of Mister Car Wash by 1.4% during the 4th quarter. Swiss National Bank now owns 189,800 shares of the company’s stock worth $1,384,000 after acquiring an additional 2,600 shares during the period. Bank of Montreal Can raised its position in shares of Mister Car Wash by 22.6% in the 4th quarter. Bank of Montreal Can now owns 14,380 shares of the company’s stock worth $105,000 after acquiring an additional 2,649 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Mister Car Wash by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 58,298 shares of the company’s stock valued at $425,000 after purchasing an additional 3,255 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in shares of Mister Car Wash by 9.3% during the fourth quarter. Handelsbanken Fonder AB now owns 47,100 shares of the company’s stock valued at $343,000 after purchasing an additional 4,000 shares in the last quarter.

Mister Car Wash Stock Performance

The company has a 50 day moving average of $7.46 and a two-hundred day moving average of $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 capitalization of $2.57 billion, a PE ratio of 34.75, a PEG ratio of 1.70 and a beta of 1.63.

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.