JPMorgan Chase & Co. Cuts Mister Car Wash (NYSE:MCW) Price Target to $8.00

Mister Car Wash (NYSE:MCW) had its target price lowered by JPMorgan Chase & Co. from $8.50 to $8.00 in a research report sent to investors on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

MCW has been the subject of several other research reports. BMO Capital Markets reiterated an “outperform” rating and set a $9.00 price target on shares of Mister Car Wash in a research report on Thursday, October 30th. Stephens raised Mister Car Wash from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $7.50 to $6.25 in a report on Monday, October 27th. Stifel Nicolaus decreased their price target on Mister Car Wash from $8.50 to $7.50 and set a “hold” rating for the company in a research note on Thursday, July 31st. Zacks Research lowered shares of Mister Car Wash from a “hold” rating to a “strong sell” rating in a research note on Friday, October 24th. Finally, UBS Group cut their price objective on Mister Car Wash from $7.25 to $6.25 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.23.

Mister Car Wash Trading Down 1.9%

MCW traded down $0.10 during trading on Friday, reaching $5.04. The company had a trading volume of 638,920 shares, compared to its average volume of 1,591,901. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53. Mister Car Wash has a 12-month low of $4.61 and a 12-month high of $8.60. The firm’s 50-day simple moving average is $5.27 and its 200 day simple moving average is $6.09. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 1.65 and a beta of 1.47.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $263.42 million during the quarter, compared to analysts’ expectations of $261.47 million. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. Mister Car Wash’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. Mister Car Wash has set its FY 2025 guidance at 0.420-0.430 EPS. Equities research analysts anticipate that Mister Car Wash will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Mister Car Wash by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 10,686,795 shares of the company’s stock worth $84,319,000 after purchasing an additional 40,236 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Mister Car Wash by 27.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,166,833 shares of the company’s stock valued at $37,063,000 after purchasing an additional 1,327,745 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Mister Car Wash by 6.5% in the first quarter. The Manufacturers Life Insurance Company now owns 4,839,088 shares of the company’s stock worth $38,180,000 after buying an additional 294,972 shares during the period. Geode Capital Management LLC increased its holdings in Mister Car Wash by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,547,839 shares of the company’s stock worth $15,314,000 after purchasing an additional 69,614 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in shares of Mister Car Wash by 91.5% during the second quarter. Qube Research & Technologies Ltd now owns 1,955,986 shares of the company’s stock valued at $11,755,000 after buying an additional 934,611 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.