Mister Car Wash (NYSE:MCW) Shares Gap Up Following Analyst Upgrade

Mister Car Wash, Inc. (NYSE:MCW - Get Free Report)'s stock price gapped up before the market opened on Thursday after Morgan Stanley raised their price target on the stock from $8.00 to $9.00. The stock had previously closed at $7.60, but opened at $8.35. Morgan Stanley currently has an equal weight rating on the stock. Mister Car Wash shares last traded at $7.95, with a volume of 662,766 shares changing hands.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company dropped 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 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 research report on Tuesday, January 14th. They issued an "equal weight" rating and a $8.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $8.57.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, insider Joseph Duane Matheny sold 6,410 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 81,206 shares of the company's stock, valued at approximately $650,460.06. The trade was a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 70.00% of the company's stock.

Institutional Investors Weigh In On Mister Car Wash

A number of institutional investors and hedge funds have recently modified their holdings of MCW. Blue Trust Inc. raised its stake in shares of Mister Car Wash by 884.7% during the third quarter. Blue Trust Inc. now owns 8,478 shares of the company's stock worth $60,000 after buying an additional 7,617 shares during the last quarter. Versor Investments LP raised its stake in shares of Mister Car Wash by 78.2% during the third quarter. Versor Investments LP now owns 106,400 shares of the company's stock worth $693,000 after buying an additional 46,700 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Mister Car Wash by 214.9% during the third 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. raised its stake in shares of Mister Car Wash by 19.5% during the third 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 bought a new stake in Mister Car Wash in the third quarter valued at approximately $212,000.

Mister Car Wash Price Performance

The company has a debt-to-equity ratio of 0.96, a current ratio of 0.27 and a quick ratio of 0.24. The stock has a market cap of $2.34 billion, a P/E ratio of 32.98, a P/E/G ratio of 1.68 and a beta of 1.63. The company's 50 day simple moving average is $7.45 and its 200 day simple moving average is $7.14.

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.