Mister Car Wash (NYSE:MCW) Trading 7.4% Higher – Here’s Why

Shares of Mister Car Wash, Inc. (NYSE:MCW) traded up 7.4% on Friday . The stock traded as high as $8.37 and last traded at $8.40. 1,409,446 shares changed hands during mid-day trading, an increase of 14% from the average session volume of 1,236,983 shares. The stock had previously closed at $7.82.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of 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. UBS Group upped their price objective on shares of Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Wells Fargo & Company decreased their price objective 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, Stephens assumed 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 objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.57.

Mister Car Wash Stock Performance

The firm has a market cap of $2.75 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 1.65 and a beta of 1.63. The company has a 50 day simple moving average of $7.50 and a 200-day simple moving average of $7.19. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24.

Insiders Place Their Bets

In other news, insider Joseph Duane Matheny sold 74,304 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total transaction of $598,147.20. Following the completion of the sale, 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 this hyperlink. Insiders sold a total of 111,456 shares of company stock valued at $897,579 over the last quarter. 70.00% of the stock is owned by corporate insiders.

Institutional Trading of Mister Car Wash

A number of institutional investors have recently made changes to their positions in MCW. Quantinno Capital Management LP purchased a new stake in shares of Mister Car Wash during the fourth quarter valued at approximately $77,000. Quarry LP purchased a new stake in shares of Mister Car Wash during the fourth quarter valued at approximately $79,000. Forum Financial Management LP purchased a new stake in Mister Car Wash in the fourth quarter worth $81,000. BNP Paribas Financial Markets purchased a new stake in Mister Car Wash in the fourth quarter worth $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 worth $98,000 after acquiring an additional 5,032 shares during the period.

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.