Morgan Stanley Forecasts Strong Price Appreciation for Mister Car Wash (NYSE:MCW) Stock

Mister Car Wash (NYSE:MCW) had its price target boosted by Morgan Stanley from $8.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 24.05% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Stephens began coverage on Mister Car Wash in a report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 target price on the stock. UBS Group lifted their target price on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a report on Thursday. Finally, Wells Fargo & Company reduced their target price on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Mister Car Wash presently has an average rating of “Hold” and a consensus target price of $8.57.

Mister Car Wash Price Performance

Shares of Mister Car Wash stock opened at $7.26 on Thursday. Mister Car Wash has a twelve month low of $5.84 and a twelve month high of $8.59. The stock has a market capitalization of $2.34 billion, a P/E ratio of 32.98, a PEG ratio of 1.68 and a beta of 1.63. The company has a current ratio of 0.27, a quick ratio of 0.24 and a debt-to-equity ratio of 0.96. The business’s fifty day moving average price is $7.45 and its 200 day moving average price is $7.14.

Insiders Place Their Bets

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 stock was sold at an average price of $8.01, for a total transaction of $51,344.10. Following the transaction, the insider now owns 81,206 shares in the company, valued at $650,460.06. The trade was a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 70.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Mister Car Wash by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,791 shares of the company’s stock valued at $392,000 after purchasing an additional 2,364 shares in the last quarter. Swiss National Bank raised its position in shares of Mister Car Wash by 1.4% in the 4th 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 in the last quarter. Bank of Montreal Can boosted 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 valued at $105,000 after buying an additional 2,649 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Mister Car Wash by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 58,298 shares of the company’s stock worth $425,000 after buying an additional 3,255 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Mister Car Wash by 9.3% during the fourth quarter. Handelsbanken Fonder AB now owns 47,100 shares of the company’s stock worth $343,000 after buying an additional 4,000 shares in 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.