Mister Car Wash (NYSE:MCW) Upgraded 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 published on Friday, Marketbeat reports. JPMorgan Chase & Co. currently has $8.50 target price on the stock.

A number of other equities analysts have also issued reports on the stock. Robert W. Baird raised their price target on shares of Mister Car Wash from $10.00 to $12.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Wells Fargo & Company reduced their price target on shares of Mister Car Wash from $11.00 to $10.00 and set an overweight rating for the company in a research report on Monday, April 22nd. Finally, Mizuho started coverage on shares of Mister Car Wash in a report on Tuesday, March 19th. They set a buy rating and a $11.00 target price for the company. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $9.56.

Mister Car Wash Stock Performance

Shares of Mister Car Wash stock traded up $0.34 during midday trading on Friday, hitting $7.32. The company had a trading volume of 4,399,209 shares, compared to its average volume of 1,754,253. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.29 and a beta of 1.66. The company has a quick ratio of 0.31, a current ratio of 0.30 and a debt-to-equity ratio of 1.00. The company has a fifty day simple moving average of $7.28 and a 200 day simple moving average of $7.58. Mister Car Wash has a 12-month low of $4.80 and a 12-month high of $10.07.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $230.89 million. As a group, analysts predict that Mister Car Wash will post 0.27 earnings per share for the current fiscal year.

Insider Activity at Mister Car Wash

In related news, COO Mayra Idali Chimienti sold 35,000 shares of Mister Car Wash stock in a transaction on Friday, March 15th. The shares were sold at an average price of $7.05, for a total value of $246,750.00. Following the sale, the chief operating officer now owns 270,523 shares of the company’s stock, valued at approximately $1,907,187.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mister Car Wash news, COO Mayra Idali Chimienti sold 35,000 shares of Mister Car Wash 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 sale, the chief operating officer now owns 270,523 shares of the company’s stock, valued at approximately $1,907,187.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jedidiah Marc Gold sold 4,857 shares of Mister Car Wash stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $7.69, for a total transaction of $37,350.33. Following the sale, the chief financial officer now directly owns 33,933 shares in the company, valued at approximately $260,944.77. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,161 shares of company stock valued at $824,667. 70.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mister Car Wash

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCW. SG Americas Securities LLC acquired a new stake in Mister Car Wash during the 3rd quarter worth $73,000. State of Alaska Department of Revenue boosted its position in shares of 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 valued at $310,000 after acquiring an additional 3,645 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Mister Car Wash by 6.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 36,509 shares of the company’s stock valued at $201,000 after acquiring an additional 2,128 shares during the last quarter. Raymond James & Associates boosted its position in shares of Mister Car Wash by 41.8% during the 3rd 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 last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Mister Car Wash by 1.6% during 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 acquiring an additional 10,022 shares during 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.