Mister Car Wash (NYSE:MCW) Hits New 52-Week High – Here’s What Happened

Mister Car Wash, Inc. (NYSE:MCW)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $8.56 and last traded at $8.51, with a volume of 345956 shares changing hands. The stock had previously closed at $8.36.

Analyst Ratings Changes

MCW has been the subject of a number of research analyst reports. UBS Group lifted their target price on Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Stephens initiated 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 for the company. Morgan Stanley upped their price objective on Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Wells Fargo & Company cut their target price on shares of 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, Raymond James assumed coverage on Mister Car Wash in a report on Thursday, March 13th. They set 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.43.

Mister Car Wash Trading Down 0.2 %

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 company has a 50-day simple moving average of $7.78 and a 200 day simple moving average of $7.36. The firm has a market cap of $2.70 billion, a PE ratio of 37.93, a price-to-earnings-growth ratio of 1.65 and a beta of 1.60.

Insider Activity at Mister Car Wash

In related news, CFO Jedidiah Marc Gold sold 42,278 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $8.50, for a total transaction of $359,363.00. Following the completion of the transaction, the chief financial officer now owns 44,854 shares of the company’s stock, valued at approximately $381,259. This trade represents a 48.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Duane Matheny sold 74,304 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total value of $598,147.20. Following the transaction, the insider now directly owns 81,206 shares in the company, valued at approximately $653,708.30. The trade was a 47.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 307,324 shares of company stock valued at $2,543,804. 70.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mister Car Wash

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of Mister Car Wash by 19.5% in the third quarter. Victory Capital Management Inc. now owns 63,576 shares of the company’s stock valued at $414,000 after acquiring an additional 10,377 shares in the last quarter. Intech Investment Management LLC acquired a new position in Mister Car Wash during the third quarter worth approximately $786,000. Dynamic Technology Lab Private Ltd raised its holdings in Mister Car Wash by 595.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 156,046 shares of the company’s stock valued at $1,016,000 after buying an additional 133,605 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of Mister Car Wash by 41.1% in the third quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock worth $16,349,000 after buying an additional 731,366 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Mister Car Wash by 6,003.1% during the 3rd 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.

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.