Mister Car Wash (NYSE:MCW) Upgraded 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 report released on Friday, MarketBeat reports. The firm currently has $8.50 price target on the stock.

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

Mister Car Wash Price Performance

MCW stock opened at $7.64 on Friday. The firm has a 50 day simple moving average of $7.28 and a two-hundred day simple moving average of $7.61. The stock has a market cap of $2.43 billion, a PE ratio of 33.26, a P/E/G ratio of 1.38 and a beta of 1.66. Mister Car Wash has a one year low of $4.80 and a one year high of $10.07. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.30 and a quick ratio of 0.26.

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

Insider Transactions at Mister Car Wash

In other news, COO Mayra Idali Chimienti sold 35,000 shares of the stock in a transaction dated 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 directly owns 270,523 shares in the company, valued at $1,907,187.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Mayra Idali Chimienti sold 35,000 shares of the stock in a transaction dated 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 directly owns 270,523 shares in the company, valued at $1,907,187.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph Duane Matheny sold 37,152 shares of the stock in a transaction dated 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 $674,348.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,161 shares of company stock worth $824,667. Company insiders own 70.00% of the company’s stock.

Hedge Funds Weigh In On Mister Car Wash

A number of institutional investors have recently bought and sold shares of MCW. SG Americas Securities LLC bought a new position in Mister Car Wash in the third quarter worth about $73,000. State of Alaska Department of Revenue raised its stake in Mister Car Wash by 6.9% in the third 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 in the last quarter. Maryland State Retirement & Pension System raised its stake in Mister Car Wash by 6.2% in the third quarter. Maryland State Retirement & Pension System now owns 36,509 shares of the company’s stock worth $201,000 after buying an additional 2,128 shares in the last quarter. Raymond James & Associates raised 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 worth $1,609,000 after buying an additional 86,023 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in 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 buying an additional 10,022 shares in the last quarter.

About Mister Car Wash

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.