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 report sent to investors on Friday morning, Marketbeat Ratings reports. The firm currently has $8.50 target price on the stock.

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

Mister Car Wash Stock Up 4.9 %

NYSE MCW opened at $7.32 on Friday. The business has a fifty day moving average price of $7.28 and a two-hundred day moving average price 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. Mister Car Wash has a fifty-two week low of $4.80 and a fifty-two week high of $10.07. The stock has a market capitalization of $2.33 billion, a PE ratio of 31.83, a PEG ratio of 2.41 and a beta of 1.66.

Mister Car Wash (NYSE:MCW) last released its earnings results on Wednesday, February 21st. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Mister Car Wash had a return on equity of 9.38% and a net margin of 8.04%. The business had revenue of $230.14 million for the quarter, compared to the consensus estimate of $230.89 million. Equities analysts expect that Mister Car Wash will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 37,152 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $8.93, for a total transaction of $331,767.36. Following the transaction, the insider now owns 75,515 shares of the company’s stock, valued at approximately $674,348.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Mayra Idali Chimienti sold 35,000 shares of the firm’s stock in a transaction that occurred 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 document filed with the SEC, which is available at the SEC website. Also, insider Joseph Duane Matheny sold 37,152 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $8.93, for a total transaction of $331,767.36. Following the sale, the insider now owns 75,515 shares of the company’s stock, valued at approximately $674,348.95. The disclosure for this sale can be found here. Insiders have sold 104,161 shares of company stock valued at $824,667 in the last 90 days. 70.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mister Car Wash

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