Mister Car Wash, Inc. (NYSE:MCW) Given Average Recommendation of “Hold” by Brokerages

Shares of Mister Car Wash, Inc. (NYSE:MCW) have received an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.57.

A number of analysts have recently commented on MCW shares. UBS Group upped their target price on Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. 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 report 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 report on Monday, January 6th. Finally, Stephens initiated coverage on shares of Mister Car Wash in a report on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 price target on the stock.

Insider Transactions at Mister Car Wash

In related news, insider Joseph Duane Matheny sold 6,410 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 81,206 shares in the company, valued at $650,460.06. This represents a 7.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the chief executive officer now owns 4,479,420 shares in the company, valued at approximately $37,806,304.80. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 270,272 shares of company stock valued at $2,247,041 in the last three months. 70.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mister Car Wash

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Mister Car Wash by 54.6% in the third quarter. JPMorgan Chase & Co. now owns 117,175 shares of the company’s stock valued at $763,000 after purchasing an additional 41,390 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Mister Car Wash by 41.1% during the third quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock worth $16,349,000 after acquiring an additional 731,366 shares during the last quarter. Barclays PLC grew its holdings in shares of Mister Car Wash by 281.2% during the 3rd quarter. Barclays PLC now owns 179,013 shares of the company’s stock worth $1,165,000 after purchasing an additional 132,051 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of 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 purchasing an additional 3,571,675 shares during the last quarter. Finally, Verition Fund Management LLC raised its holdings in Mister Car Wash by 200.9% in the 3rd quarter. Verition Fund Management LLC now owns 514,467 shares of the company’s stock valued at $3,349,000 after buying an additional 343,512 shares during the period.

Mister Car Wash Trading Down 3.1 %

NYSE MCW opened at $8.21 on Wednesday. The company has a fifty day moving average of $7.54 and a 200 day moving average of $7.21. The company has a market capitalization of $2.66 billion, a PE ratio of 37.32, a P/E/G ratio of 1.65 and a beta of 1.63. 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 1 year low of $5.84 and a 1 year high of $8.56.

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.