Mister Car Wash (NYSE:MCW) Given New $9.00 Price Target at Morgan Stanley

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

Several other research firms have also weighed in on MCW. 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. UBS Group lifted their target price on shares of Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a report on Thursday. Finally, Stephens began 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 objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.57.

Mister Car Wash Stock Down 3.0 %

NYSE:MCW opened at $7.26 on Thursday. The firm has a market capitalization of $2.34 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 1.65 and a beta of 1.63. Mister Car Wash has a 52 week low of $5.84 and a 52 week high of $8.59. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average of $7.45 and a 200-day moving average of $7.15.

Insider Activity

In related news, insider Joseph Duane Matheny sold 74,304 shares of Mister Car Wash stock in a transaction that occurred on 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 70.00% of the stock is currently owned by insiders.

Institutional Trading of Mister Car Wash

Several hedge funds have recently added to or reduced their stakes in MCW. The Manufacturers Life Insurance Company increased its holdings in 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 in the last quarter. Divisadero Street Capital Management LP bought a new stake in Mister Car Wash during the 4th quarter worth about $10,392,000. Marshall Wace LLP boosted its position in Mister Car Wash by 103.5% during the fourth quarter. Marshall Wace LLP now owns 2,152,718 shares of the company’s stock valued at $15,693,000 after purchasing an additional 1,094,751 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Mister Car Wash by 43.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company’s stock valued at $22,895,000 after buying an additional 958,479 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Mister Car Wash by 25.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company’s stock worth $33,127,000 after acquiring an additional 912,944 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.