Mister Car Wash (NYSE:MCW) Reaches New 52-Week High – Still a Buy?

Mister Car Wash, Inc. (NYSE:MCW) shares reached 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 research firms have recently commented on MCW. Wells Fargo & Company cut 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. Stephens began coverage on Mister Car Wash in a research note on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 price objective for the company. UBS Group raised their target price on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley lifted their target price on shares of Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. One investment 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, Mister Car Wash has an average rating of “Hold” and a consensus target price of $8.57.

Mister Car Wash Price Performance

The stock has a market cap of $2.58 billion, a PE ratio of 36.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.63. The stock’s fifty day moving average is $7.54 and its 200-day moving average is $7.21. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24.

Insider Activity

In related news, CEO John Lo-Minn Lai sold 22,039 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.44, for a total transaction of $186,009.16. Following the completion of the transaction, the chief executive officer now directly owns 4,479,420 shares in the company, valued at $37,806,304.80. This trade represents a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph Duane Matheny sold 6,410 shares of Mister Car Wash stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $8.01, for a total value of $51,344.10. Following the completion of the transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at approximately $650,460.06. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 270,272 shares of company stock valued at $2,247,041 in the last 90 days. Company insiders own 70.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Mister Car Wash by 4.6% in 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 during the last quarter. Swiss National Bank lifted its position in 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 acquiring an additional 2,600 shares during the last quarter. Bank of Montreal Can boosted its stake in Mister Car Wash by 22.6% in the fourth quarter. Bank of Montreal Can now owns 14,380 shares of the company’s stock valued at $105,000 after acquiring an additional 2,649 shares in the last quarter. MetLife Investment Management LLC grew its holdings 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 purchasing an additional 3,255 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in 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 during the period.

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.