Mister Car Wash (NYSE:MCW) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Mister Car Wash (NYSE:MCW) from a neutral rating to an overweight rating in a research note released on Friday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $8.50 price target on the stock.

A number of other research analysts have also commented on MCW. Robert W. Baird increased their price objective on Mister Car Wash from $10.00 to $12.00 and gave the company an outperform rating in a report on Thursday, February 15th. Wells Fargo & Company lowered their price objective on Mister Car Wash from $11.00 to $10.00 and set an overweight rating on the stock in a report on Monday, April 22nd. Finally, Mizuho started coverage on Mister Car Wash in a report on Tuesday, March 19th. They set a buy rating and a $11.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $9.56.

Mister Car Wash Stock Up 4.9 %

MCW opened at $7.32 on Friday. Mister Car Wash has a fifty-two week low of $4.80 and a fifty-two week high of $10.07. The business has a 50-day moving average of $7.28 and a 200-day moving average of $7.61. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.30 and a quick ratio of 0.31. The company has a market capitalization of $2.33 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.41 and a beta of 1.66.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $230.14 million for the quarter, compared to analyst estimates of $230.89 million. Mister Car Wash had a net margin of 8.04% and a return on equity of 9.38%. Equities research analysts forecast that Mister Car Wash will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mister Car Wash news, COO Mayra Idali Chimienti sold 35,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $7.05, for a total value of $246,750.00. Following the completion of the transaction, the chief operating officer now directly owns 270,523 shares of the company’s stock, valued at $1,907,187.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Mister Car Wash news, COO Mayra Idali Chimienti sold 35,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $7.05, for a total transaction of $246,750.00. Following the completion of the sale, the chief operating officer now owns 270,523 shares in the company, valued at approximately $1,907,187.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph Duane Matheny sold 37,152 shares of Mister Car Wash stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $8.93, for a total value of $331,767.36. Following the sale, the insider now directly owns 75,515 shares of the company’s stock, valued at $674,348.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,161 shares of company stock valued at $824,667. Insiders own 70.00% of the company’s stock.

Institutional Trading of Mister Car Wash

A number of institutional investors and hedge funds have recently modified their holdings of MCW. SG Americas Securities LLC bought a new position in shares of Mister Car Wash during the third quarter worth $73,000. State of Alaska Department of Revenue raised its stake in Mister Car Wash by 6.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 56,424 shares of the company’s stock worth $310,000 after buying an additional 3,645 shares during the period. Maryland State Retirement & Pension System lifted its holdings in Mister Car Wash by 6.2% during the third quarter. Maryland State Retirement & Pension System now owns 36,509 shares of the company’s stock worth $201,000 after acquiring an additional 2,128 shares in the last quarter. Raymond James & Associates grew its stake in Mister Car Wash by 41.8% in the third quarter. Raymond James & Associates now owns 291,961 shares of the company’s stock valued at $1,609,000 after acquiring an additional 86,023 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Mister Car Wash by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 633,728 shares of the company’s stock worth $3,492,000 after acquiring an additional 10,022 shares in the last quarter.

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.