UBS Group Increases Mister Car Wash (NYSE:MCW) Price Target to $8.50

Mister Car Wash (NYSE:MCW) had its target price upped by UBS Group from $8.00 to $8.50 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential upside of 5.99% from the stock’s current price.

MCW has been the subject of several other research reports. Wells Fargo & Company reduced their target price on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Morgan Stanley reduced their target price on shares of Mister Car Wash from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, Stephens began coverage on shares of Mister Car Wash in a research note on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.43.

Mister Car Wash Stock Performance

NYSE MCW traded up $0.42 during trading hours on Thursday, reaching $8.02. 481,282 shares of the company were exchanged, compared to its average volume of 1,078,123. Mister Car Wash has a 1 year low of $5.84 and a 1 year high of $9.05. The business’s 50 day simple moving average is $7.46 and its 200-day simple moving average is $7.14. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $2.58 billion, a P/E ratio of 34.88, a P/E/G ratio of 1.70 and a beta of 1.63.

Insider Transactions at Mister Car Wash

In related news, insider Joseph Duane Matheny sold 6,410 shares of Mister Car Wash stock in a transaction on Friday, February 14th. The shares were sold at an average price of $8.01, for a total value of $51,344.10. Following the transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at $650,460.06. The trade was a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 70.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MCW. Neo Ivy Capital Management purchased a new position in Mister Car Wash during the 4th quarter valued at $381,000. PharVision Advisers LLC purchased a new position in Mister Car Wash during the 4th quarter valued at $330,000. Sherbrooke Park Advisers LLC purchased a new position in Mister Car Wash during the 4th quarter valued at $145,000. ProShare Advisors LLC increased its position in Mister Car Wash by 46.0% during the 4th quarter. ProShare Advisors LLC now owns 28,548 shares of the company’s stock valued at $208,000 after purchasing an additional 8,991 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in Mister Car Wash during the 4th quarter valued at $77,000.

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.