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

Shares of Mister Car Wash, Inc. (NYSE:MCW) have been given an average recommendation of “Hold” by the seven analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.43.

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target 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. UBS Group raised their target price on Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. 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 price target for the company. Raymond James started coverage on shares of Mister Car Wash in a report on Thursday, March 13th. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Morgan Stanley upped their target price on shares of Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th.

Insider Transactions at Mister Car Wash

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 42,278 shares of Mister Car Wash stock in a transaction on Friday, February 28th. The shares were sold at an average price of $8.50, for a total value of $359,363.00. Following the completion of the transaction, the chief financial officer now directly owns 44,854 shares of the company’s stock, valued at $381,259. This trade represents a 48.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph Duane Matheny sold 74,304 shares of the company’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 sale, the insider now owns 81,206 shares in the company, valued at $653,708.30. This represents a 47.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 360,313 shares of company stock valued at $2,995,270. 70.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCW. Barclays PLC boosted its stake 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. JPMorgan Chase & Co. boosted its position in shares of Mister Car Wash by 54.6% during the third quarter. JPMorgan Chase & Co. now owns 117,175 shares of the company’s stock valued at $763,000 after buying an additional 41,390 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Mister Car Wash during the fourth quarter valued at approximately $945,000. The Manufacturers Life Insurance Company grew its stake in shares of Mister Car Wash by 6,003.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock valued at $23,639,000 after buying an additional 3,571,675 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Mister Car Wash in the fourth quarter worth approximately $698,000.

Mister Car Wash Stock Down 2.3 %

Shares of Mister Car Wash stock opened at $7.29 on Friday. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. Mister Car Wash has a twelve month low of $5.84 and a twelve month high of $8.60. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 1.65 and a beta of 1.57. The company’s 50 day moving average is $7.91 and its 200 day moving average is $7.46.

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.