Brokerages Set Mister Car Wash, Inc. (NYSE:MCW) PT at $8.57

Mister Car Wash, Inc. (NYSE:MCW - Get Free Report) has earned a consensus recommendation of "Hold" from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.57.

MCW has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on Mister Car Wash from $10.00 to $9.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. Stephens started coverage on 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. UBS Group raised their price target 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. Finally, Morgan Stanley raised their price target on Mister Car Wash from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th.

Insider Transactions at Mister Car Wash

In other news, CFO Jedidiah Marc Gold sold 93,121 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.51, for a total transaction of $792,459.71. Following the sale, the chief financial officer now owns 55,437 shares in the company, valued at $471,768.87. This trade represents a 62.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Lo-Minn Lai sold 22,039 shares of Mister Car Wash stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.44, for a total value of $186,009.16. Following the completion of the transaction, the chief executive officer now owns 4,479,420 shares in the company, valued at $37,806,304.80. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,272 shares of company stock worth $2,247,041 over the last quarter. 70.00% of the stock is currently owned by insiders.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FIL Ltd boosted its holdings in Mister Car Wash by 2.4% in the fourth quarter. FIL Ltd now owns 9,915,100 shares of the company's stock valued at $72,281,000 after acquiring an additional 230,100 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Mister Car Wash by 25.1% in the fourth 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 period. The Manufacturers Life Insurance Company raised its position in Mister Car Wash by 6,003.1% in 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 purchasing an additional 3,571,675 shares during the period. State Street Corp raised its position in Mister Car Wash by 1.9% in the third quarter. State Street Corp now owns 3,375,939 shares of the company's stock valued at $21,977,000 after purchasing an additional 63,631 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in 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 purchasing an additional 958,479 shares during the period.

Mister Car Wash Price Performance

NYSE MCW traded up $0.05 during mid-day trading on Wednesday, hitting $7.96. The stock had a trading volume of 1,741,622 shares, compared to its average volume of 1,344,146. Mister Car Wash has a 52-week low of $5.84 and a 52-week high of $8.56. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 36.18, a P/E/G ratio of 1.65 and a beta of 1.60. The company has a 50 day simple moving average of $7.57 and a 200 day simple moving average of $7.22. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92.

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.