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

Mister Car Wash (NYSE:MCW) had its target price boosted by equities researchers at Morgan Stanley from $8.00 to $9.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 24.05% from the stock’s previous close.

Several other brokerages have also recently issued reports on MCW. 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 on the stock. UBS Group raised their price objective on Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Wells Fargo & Company reduced their price objective on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. One equities 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.57.

Mister Car Wash Stock Performance

Shares of MCW opened at $7.26 on Thursday. The business’s fifty day moving average price is $7.45 and its 200 day moving average price is $7.14. Mister Car Wash has a 12-month low of $5.84 and a 12-month high of $8.59. The stock has a market capitalization of $2.34 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 1.68 and a beta of 1.63. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.27 and a quick ratio of 0.24.

Insider Buying and Selling at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 6,410 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $8.01, for a total transaction of $51,344.10. Following the transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at approximately $650,460.06. This trade represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 70.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MCW. Blue Trust Inc. increased its holdings in shares of Mister Car Wash by 884.7% during the third quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock valued at $60,000 after purchasing an additional 7,617 shares during the period. Quantinno Capital Management LP acquired a new position in shares of Mister Car Wash during the fourth quarter valued at $77,000. Quarry LP acquired a new position in shares of Mister Car Wash during the fourth quarter valued at $79,000. Forum Financial Management LP acquired a new position in shares of Mister Car Wash during the fourth quarter valued at $81,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Mister Car Wash during the fourth quarter valued at $96,000.

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.