Mister Car Wash (NYSE:MCW) Hits New 1-Year High - Here's What Happened

Shares of Mister Car Wash, Inc. (NYSE:MCW - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $8.56 and last traded at $8.51, with a volume of 345956 shares traded. The stock had previously closed at $8.36.

Analysts Set New Price Targets

A number of research firms recently commented on MCW. Morgan Stanley upped their price objective on Mister Car Wash from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. Stephens assumed coverage on 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. Raymond James assumed 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. Wells Fargo & Company decreased their target price on shares of 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 boosted their price target on shares of Mister Car Wash from $8.00 to $8.50 and gave the company a "neutral" rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $8.43.

Mister Car Wash Stock Down 3.3 %

The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 35.96, a PEG ratio of 1.65 and a beta of 1.60. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. The business's fifty day moving average is $7.87 and its two-hundred day moving average is $7.40.

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Insider Activity

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 42,278 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $8.50, for a total transaction of $359,363.00. Following the completion of the transaction, the chief financial officer now owns 44,854 shares in the company, valued at $381,259. The trade was a 48.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph Duane Matheny sold 6,410 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $8.01, for a total transaction of $51,344.10. Following the completion of the sale, the insider now owns 81,206 shares in the company, valued at $650,460.06. The trade was a 7.32 % 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 worth $2,995,270. Corporate insiders own 70.00% of the company's stock.

Hedge Funds Weigh In On Mister Car Wash

Several large investors have recently bought and sold shares of MCW. Quantinno Capital Management LP acquired a new stake in Mister Car Wash during the fourth quarter worth approximately $77,000. Quarry LP acquired a new stake in shares of Mister Car Wash in the 4th quarter valued at about $79,000. Forum Financial Management LP purchased a new position in Mister Car Wash during the 4th quarter worth approximately $81,000. BNP Paribas Financial Markets acquired a new position in Mister Car Wash during the fourth quarter worth approximately $96,000. Finally, Blue Trust Inc. lifted its stake in Mister Car Wash by 59.4% in the fourth quarter. Blue Trust Inc. now owns 13,510 shares of the company's stock valued at $98,000 after buying an additional 5,032 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.