Mister Car Wash (NYSE:MCW) Research Coverage Started at Raymond James

Raymond James initiated coverage on shares of Mister Car Wash (NYSE:MCW) in a report issued on Thursday, Marketbeat Ratings reports. The firm issued an outperform rating and a $10.00 price objective on the stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company decreased their price objective on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Morgan Stanley upped their price target on shares of Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. UBS Group lifted their price objective on shares of Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Stephens started coverage on shares of Mister Car Wash in a research report on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.75.

Mister Car Wash Trading Up 1.8 %

Shares of NYSE:MCW opened at $7.93 on Thursday. Mister Car Wash has a 12-month low of $5.84 and a 12-month high of $8.56. The business has a 50 day moving average of $7.64 and a 200-day moving average of $7.28. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. The stock has a market cap of $2.57 billion, a PE ratio of 36.05, a P/E/G ratio of 1.65 and a beta of 1.60.

Insider Activity

In other Mister Car Wash news, CEO John Lo-Minn Lai sold 22,039 shares of Mister Car Wash stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.44, for a total value of $186,009.16. Following the transaction, the chief executive officer now owns 4,479,420 shares in the company, valued at $37,806,304.80. The trade was a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Duane Matheny sold 6,410 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 81,206 shares in the company, valued at approximately $650,460.06. The trade was a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 270,272 shares of company stock worth $2,247,041. 70.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mister Car Wash

Institutional investors have recently added to or reduced their stakes in the stock. FIL Ltd grew its stake in shares of Mister Car Wash by 2.4% during the fourth quarter. FIL Ltd now owns 9,915,100 shares of the company’s stock worth $72,281,000 after buying an additional 230,100 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Mister Car Wash by 25.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company’s stock worth $33,127,000 after acquiring an additional 912,944 shares during the last quarter. The Manufacturers Life Insurance Company grew its position 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 acquiring an additional 3,571,675 shares during the last quarter. State Street Corp increased its holdings in Mister Car Wash by 1.9% in the 3rd quarter. State Street Corp now owns 3,375,939 shares of the company’s stock worth $21,977,000 after purchasing an additional 63,631 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Mister Car Wash by 43.9% in 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 last quarter.

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.