Morgan Stanley Forecasts Strong Price Appreciation for Mister Car Wash (NYSE:MCW) Stock

Mister Car Wash (NYSE:MCW) had its price objective increased by analysts at Morgan Stanley from $8.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 16.81% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. 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. Wells Fargo & Company cut their price objective on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, UBS Group raised their target price on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.57.

Mister Car Wash Stock Up 1.4 %

Shares of Mister Car Wash stock traded up $0.11 on Thursday, hitting $7.71. The company had a trading volume of 1,075,531 shares, compared to its average volume of 1,093,709. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 33.37, a P/E/G ratio of 1.70 and a beta of 1.63. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.24 and a current ratio of 0.27. Mister Car Wash has a 1 year low of $5.84 and a 1 year high of $9.05. The stock has a 50 day moving average of $7.46 and a 200-day moving average of $7.14.

Insider Buying and Selling at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $8.05, for a total value of $598,147.20. Following the transaction, the insider now owns 81,206 shares of the company’s stock, valued at approximately $653,708.30. This represents a 47.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 70.00% of the company’s stock.

Hedge Funds Weigh In On Mister Car Wash

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in shares of Mister Car Wash by 884.7% during the 3rd quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock valued at $60,000 after acquiring an additional 7,617 shares during the last quarter. Versor Investments LP grew its stake in Mister Car Wash by 78.2% in the 3rd quarter. Versor Investments LP now owns 106,400 shares of the company’s stock worth $693,000 after buying an additional 46,700 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of Mister Car Wash by 214.9% in the 3rd quarter. GSA Capital Partners LLP now owns 102,307 shares of the company’s stock worth $666,000 after buying an additional 69,817 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Mister Car Wash by 19.5% in the 3rd quarter. Victory Capital Management Inc. now owns 63,576 shares of the company’s stock worth $414,000 after buying an additional 10,377 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Mister Car Wash during the 3rd quarter valued at $212,000.

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.