Mister Car Wash, Inc. (NYSE:MCW – Get Rating)’s stock price gapped down before the market opened on Friday after Morgan Stanley lowered their price target on the stock from $11.00 to $10.00. The stock had previously closed at $9.24, but opened at $8.81. Morgan Stanley currently has an equal weight rating on the stock. Mister Car Wash shares last traded at $8.95, with a volume of 298,240 shares traded.
Separately, UBS Group cut their price target on Mister Car Wash to $11.00 in a report on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.38.
Insider Transactions at Mister Car Wash
In related news, COO Mayra Idali Chimienti sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $9.54, for a total transaction of $190,800.00. Following the transaction, the chief operating officer now directly owns 281,540 shares of the company’s stock, valued at $2,685,891.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 71.90% of the company’s stock.
Institutional Trading of Mister Car Wash
Several large investors have recently modified their holdings of MCW. JPMorgan Chase & Co. grew its position in Mister Car Wash by 25.7% during the 1st quarter. JPMorgan Chase & Co. now owns 22,357 shares of the company’s stock worth $331,000 after acquiring an additional 4,571 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Mister Car Wash by 16.4% in the first quarter. Bank of New York Mellon Corp now owns 184,107 shares of the company’s stock valued at $2,723,000 after buying an additional 25,960 shares during the period. Citigroup Inc. raised its holdings in Mister Car Wash by 19.9% in the 1st quarter. Citigroup Inc. now owns 15,536 shares of the company’s stock valued at $229,000 after buying an additional 2,583 shares during the last quarter. Bank of Montreal Can acquired a new position in Mister Car Wash in the 1st quarter valued at approximately $165,000. Finally, MetLife Investment Management LLC bought a new position in Mister Car Wash during the 1st quarter worth $63,000.
Mister Car Wash Price Performance
The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.73. The company has a fifty day moving average of $9.69 and a 200 day moving average of $9.68. The firm has a market capitalization of $2.85 billion, a P/E ratio of 23.03, a PEG ratio of 2.10 and a beta of 1.03.
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. As of June 16, 2022, it operated 407 car wash locations in 21 states. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.