Mister Car Wash (NYSE:MCW) Stock Rating Upgraded by JPMorgan Chase & Co.

Mister Car Wash (NYSE:MCW) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Friday, Marketbeat Ratings reports. The firm presently has a $8.50 price objective on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 16.12% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company cut their target price 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. Mizuho began coverage on shares of Mister Car Wash in a research note on Tuesday, March 19th. They set a “buy” rating and a $11.00 target price on the stock. Finally, Robert W. Baird raised 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.56.

Mister Car Wash Stock Up 4.9 %

MCW stock opened at $7.32 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average of $7.28 and a two-hundred day moving average of $7.58. Mister Car Wash has a 12 month low of $4.80 and a 12 month high of $10.07. The company 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.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 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 analyst estimates of $230.89 million. Mister Car Wash had a net margin of 8.04% and a return on equity of 9.38%. As a group, analysts forecast that Mister Car Wash will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 4,857 shares of Mister Car Wash stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $7.69, for a total transaction of $37,350.33. Following the completion of the sale, the chief financial officer now directly owns 33,933 shares of the company’s stock, valued at approximately $260,944.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 4,857 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $7.69, for a total transaction of $37,350.33. Following the sale, the chief financial officer now owns 33,933 shares of the company’s stock, valued at $260,944.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph Duane Matheny sold 37,152 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $8.93, for a total transaction of $331,767.36. Following the completion of the transaction, 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. In the last three months, insiders have sold 104,161 shares of company stock worth $824,667. 70.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Mister Car Wash

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP boosted its position in shares of Mister Car Wash by 1.7% in the 1st quarter. Wasatch Advisors LP now owns 16,423,825 shares of the company’s stock valued at $127,285,000 after purchasing an additional 267,825 shares during the period. Brown Advisory Inc. lifted its stake in Mister Car Wash by 14.4% in the fourth quarter. Brown Advisory Inc. now owns 13,535,668 shares of the company’s stock valued at $116,948,000 after buying an additional 1,706,435 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Mister Car Wash by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 10,082,581 shares of the company’s stock valued at $87,114,000 after acquiring an additional 315,679 shares during the period. Woodson Capital Management LP grew its position in shares of Mister Car Wash by 80.5% during the fourth quarter. Woodson Capital Management LP now owns 2,700,000 shares of the company’s stock worth $23,328,000 after acquiring an additional 1,203,863 shares during the last quarter. Finally, Mariner LLC increased its holdings in shares of Mister Car Wash by 7.3% in the 3rd quarter. Mariner LLC now owns 1,300,638 shares of the company’s stock valued at $7,167,000 after acquiring an additional 88,830 shares during the period.

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.