Mister Car Wash (NYSE:MCW) Sets New 12-Month High – What’s Next?

Shares of Mister Car Wash, Inc. (NYSE:MCW) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $8.56 and last traded at $8.44, with a volume of 219820 shares changing hands. The stock had previously closed at $8.49.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Stephens assumed coverage on Mister Car Wash in a research report on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 price objective for the company. Morgan Stanley increased their price target on Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Wells Fargo & Company dropped 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 note on Monday, January 6th. Finally, UBS Group raised their target price on shares of Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.57.

Mister Car Wash Price Performance

The stock has a fifty day moving average of $7.54 and a two-hundred day moving average of $7.21. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 36.18, 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.

Insiders Place Their Bets

In related news, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total value of $598,147.20. Following the sale, the insider now owns 81,206 shares in the company, valued at $653,708.30. This represents a 47.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Lo-Minn Lai sold 22,039 shares of the firm’s stock in a transaction that occurred 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 directly owns 4,479,420 shares of the company’s stock, valued at $37,806,304.80. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 270,272 shares of company stock worth $2,247,041. Corporate insiders own 70.00% of the company’s stock.

Institutional Investors Weigh In On Mister Car Wash

Several institutional investors and hedge funds have recently made changes to their positions in MCW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Mister Car Wash by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,791 shares of the company’s stock worth $392,000 after acquiring an additional 2,364 shares during the last quarter. Swiss National Bank grew its position in shares of Mister Car Wash by 1.4% in the fourth quarter. Swiss National Bank now owns 189,800 shares of the company’s stock valued at $1,384,000 after purchasing an additional 2,600 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Mister Car Wash by 22.6% during the 4th quarter. Bank of Montreal Can now owns 14,380 shares of the company’s stock worth $105,000 after purchasing an additional 2,649 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Mister Car Wash by 5.9% during the 4th quarter. MetLife Investment Management LLC now owns 58,298 shares of the company’s stock worth $425,000 after purchasing an additional 3,255 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Mister Car Wash by 9.3% in the 4th quarter. Handelsbanken Fonder AB now owns 47,100 shares of the company’s stock valued at $343,000 after buying an additional 4,000 shares in the last quarter.

Mister Car Wash Company Profile

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.