Mister Car Wash (NYSE:MCW) Price Target Raised to $9.00 at Morgan Stanley

Mister Car Wash (NYSE:MCW) had its price target raised by Morgan Stanley from $8.00 to $9.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages have also weighed in on MCW. Wells Fargo & Company lowered their price target on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, January 6th. UBS Group lifted their target price on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Thursday. Finally, Stephens initiated coverage on Mister Car Wash in a research report on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 target price for the company. 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.57.

Mister Car Wash Stock Performance

Mister Car Wash stock opened at $7.48 on Thursday. Mister Car Wash has a 12-month low of $5.84 and a 12-month high of $9.05. The stock has a 50-day simple moving average of $7.45 and a 200 day simple moving average of $7.14. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 1.68 and a beta of 1.63.

Insider Transactions at Mister Car Wash

In related news, insider Joseph Duane Matheny sold 6,410 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $8.01, for a total value of $51,344.10. Following the sale, the insider now directly owns 81,206 shares in the company, valued at $650,460.06. This trade represents a 7.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 70.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mister Car Wash

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Mister Car Wash by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,791 shares of the company’s stock worth $392,000 after purchasing an additional 2,364 shares in the last quarter. Swiss National Bank lifted its stake in Mister Car Wash by 1.4% in the 4th quarter. Swiss National Bank now owns 189,800 shares of the company’s stock valued at $1,384,000 after acquiring an additional 2,600 shares in the last quarter. Bank of Montreal Can boosted its position in Mister Car Wash by 22.6% during 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 during the last quarter. MetLife Investment Management LLC increased its stake in 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 buying an additional 3,255 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its position in Mister Car Wash by 9.3% during the 4th quarter. Handelsbanken Fonder AB now owns 47,100 shares of the company’s stock worth $343,000 after buying an additional 4,000 shares in 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.