Mister Car Wash (NYSE:MCW) Hits New 52-Week High – Time to Buy?

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MCW shares. Stephens initiated 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 price objective on the stock. Raymond James began coverage on shares of Mister Car Wash in a report on Thursday, March 13th. They issued an “outperform” rating and a $10.00 target price on the stock. UBS Group increased their price target on shares of Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Wells Fargo & Company reduced their price objective on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Finally, Morgan Stanley boosted their target price 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Mister Car Wash currently has a consensus rating of “Hold” and an average target price of $8.43.

Mister Car Wash Stock Up 1.2 %

The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 38.50, a price-to-earnings-growth ratio of 1.65 and a beta of 1.60. The firm’s 50-day simple moving average is $7.83 and its two-hundred day simple moving average is $7.39.

Insider Transactions at Mister Car Wash

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

Institutional Investors Weigh In On Mister Car Wash

A number of institutional investors and hedge funds have recently bought and sold shares of MCW. Quantinno Capital Management LP acquired a new position in shares of Mister Car Wash in the fourth quarter worth $77,000. Quarry LP purchased a new stake in Mister Car Wash during the 4th quarter worth about $79,000. Forum Financial Management LP acquired a new position in Mister Car Wash in the 4th quarter valued at about $81,000. BNP Paribas Financial Markets purchased a new position in Mister Car Wash in the 4th quarter valued at about $96,000. Finally, Blue Trust Inc. boosted its stake in shares of Mister Car Wash by 59.4% during the 4th quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock worth $98,000 after purchasing an additional 5,032 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.