Mister Car Wash (NYSE:MCW) Upgraded to “Buy” at Stifel Nicolaus

Mister Car Wash (NYSE:MCW – Get Rating) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, The Fly reports.

A number of other brokerages have also issued reports on MCW. Morgan Stanley raised shares of Mister Car Wash from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Tuesday, January 18th. FIG Partners raised shares of Mister Car Wash to a “reduce” rating in a research report on Tuesday, November 16th. Finally, Zacks Investment Research lowered shares of Mister Car Wash from a “buy” rating to a “hold” rating in a research report on Wednesday, January 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Mister Car Wash presently has an average rating of “Buy” and an average price target of $23.00.

NYSE MCW opened at $14.77 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.39 and a debt-to-equity ratio of 1.01. The company has a fifty day moving average of $16.65 and a two-hundred day moving average of $17.58. Mister Car Wash has a 52 week low of $14.36 and a 52 week high of $24.49.

In related news, insider Casey Penn Lindsay sold 5,000 shares of Mister Car Wash stock in a transaction that occurred on Monday, January 24th. The shares were sold at an average price of $16.56, for a total transaction of $82,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Lisa Bossard Funk sold 13,814 shares of Mister Car Wash stock in a transaction that occurred on Tuesday, January 4th. The shares were sold at an average price of $18.97, for a total transaction of $262,051.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,896 shares of company stock worth $566,491.

Hedge funds have recently modified their holdings of the stock. FIL Ltd grew its holdings in Mister Car Wash by 92.1% in the third quarter. FIL Ltd now owns 4,240,000 shares of the company’s stock worth $77,380,000 after purchasing an additional 2,032,715 shares during the last quarter. Geode Capital Management LLC purchased a new position in Mister Car Wash in the third quarter worth $8,145,000. Oppenheimer Asset Management Inc. grew its holdings in Mister Car Wash by 34.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 40,272 shares of the company’s stock worth $735,000 after purchasing an additional 10,247 shares during the last quarter. Citadel Advisors LLC purchased a new position in Mister Car Wash in the second quarter worth $2,969,000. Finally, Providence Equity Partners L.L.C. purchased a new position in Mister Car Wash in the third quarter worth $31,257,000. 96.68% of the stock is currently owned by institutional investors.

About Mister Car Wash (Get Rating)

Mister Car Wash, Inc provides conveyorized car wash services in the United States. It offers express exterior and interior cleaning services. The company also provides related automotive services, including quick lube services and gasoline sales. As of March 31, 2021, it operated 344 car wash locations in 21 states, which include 263 express exterior locations and 81 interior cleaning locations.

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