Mister Car Wash (NYSE:MCW) Trading 7.4% Higher - Still a Buy?

Mister Car Wash, Inc. (NYSE:MCW - Get Free Report)'s share price was up 7.4% during mid-day trading on Friday . The company traded as high as $8.37 and last traded at $8.40. Approximately 1,409,446 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 1,236,983 shares. The stock had previously closed at $7.82.

Analyst Ratings Changes

A number of research analysts have issued reports on MCW shares. Stephens started coverage on shares of Mister Car Wash in a research report on Tuesday, January 14th. They set an "equal weight" rating and a $8.00 target price on the stock. UBS Group increased 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. Morgan Stanley raised their price objective on Mister Car Wash from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company cut their target price on Mister Car Wash from $10.00 to $9.00 and set an "overweight" rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $8.57.

Mister Car Wash Stock Down 3.1 %

The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 37.32, a price-to-earnings-growth ratio of 1.65 and a beta of 1.63. 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 stock has a 50 day moving average price of $7.53 and a 200 day moving average price of $7.20.

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Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, insider Joseph Duane Matheny sold 74,304 shares of Mister Car Wash stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total transaction of $598,147.20. Following the transaction, the insider now directly owns 81,206 shares of the company's stock, valued at approximately $653,708.30. The trade was a 47.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 111,456 shares of company stock worth $897,579. 70.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mister Car Wash

A number of hedge funds have recently made changes to their positions in MCW. Quantinno Capital Management LP bought a new stake in Mister Car Wash in the fourth quarter valued at approximately $77,000. Quarry LP bought a new stake in Mister Car Wash in the 4th quarter valued at about $79,000. Forum Financial Management LP acquired a new position in Mister Car Wash during the fourth quarter worth $81,000. BNP Paribas Financial Markets bought a new position in shares of Mister Car Wash in the fourth quarter valued at approximately $96,000. Finally, Blue Trust Inc. boosted its holdings in Mister Car Wash by 59.4% during the fourth quarter. Blue Trust Inc. now owns 13,510 shares of the company's stock worth $98,000 after purchasing 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.