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

Mister Car Wash, Inc. (NYSE:MCW) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $8.43.

Several brokerages have commented on MCW. Raymond James began coverage on Mister Car Wash in a report on Thursday, March 13th. They set an “outperform” rating and a $10.00 target price on the stock. Wells Fargo & Company reduced their target price 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. Stephens assumed 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 for the company. Morgan Stanley upped their price objective on shares of Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Finally, UBS Group increased their price objective on shares of Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, February 20th.

Mister Car Wash Price Performance

Shares of NYSE:MCW opened at $7.91 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53. Mister Car Wash has a 52 week low of $5.84 and a 52 week high of $8.60. The firm has a market cap of $2.56 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 1.65 and a beta of 1.60. The firm’s fifty day moving average is $7.87 and its 200-day moving average is $7.41.

Insider Transactions at Mister Car Wash

In related news, CEO John Lo-Minn Lai sold 22,039 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.44, for a total transaction of $186,009.16. Following the transaction, the chief executive officer now directly owns 4,479,420 shares of the company’s stock, valued at approximately $37,806,304.80. This represents a 0.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Duane Matheny sold 6,410 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $8.01, for a total value of $51,344.10. Following the completion of the sale, the insider now directly owns 81,206 shares of the company’s stock, valued at $650,460.06. This trade represents a 7.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 360,313 shares of company stock valued at $2,995,270 in the last quarter. 70.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mister Car Wash

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake 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 valued at $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 shares of Mister Car Wash during the fourth quarter worth about $10,392,000. Marshall Wace LLP raised its holdings in shares of Mister Car Wash by 103.5% in the 4th quarter. Marshall Wace LLP now owns 2,152,718 shares of the company’s stock worth $15,693,000 after acquiring an additional 1,094,751 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Mister Car Wash by 43.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company’s stock valued at $22,895,000 after acquiring an additional 958,479 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in 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 valued at $33,127,000 after purchasing an additional 912,944 shares during the last quarter.

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.