Mister Car Wash (NYSE:MCW) Lifted to Overweight at JPMorgan Chase & Co.

Mister Car Wash (NYSE:MCW) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Friday, Marketbeat reports. The brokerage presently has a $8.50 price objective on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 16.12% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Wells Fargo & Company decreased 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 report on Monday, April 22nd. Robert W. Baird upped their target price on Mister Car Wash from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Finally, Mizuho started coverage on Mister Car Wash in a report on Tuesday, March 19th. They issued a “buy” rating and a $11.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Mister Car Wash currently has an average rating of “Moderate Buy” and a consensus target price of $9.56.

Mister Car Wash Price Performance

Shares of MCW stock opened at $7.32 on Friday. The firm has a market cap of $2.33 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.29 and a beta of 1.66. The firm has a fifty day moving average of $7.28 and a two-hundred day moving average of $7.58. 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 1-year low of $4.80 and a 1-year high of $10.07.

Mister Car Wash (NYSE:MCW) last released its earnings results on Wednesday, February 21st. The company reported $0.05 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 firm had revenue of $230.14 million for the quarter, compared to the consensus estimate of $230.89 million. As a group, research analysts anticipate that Mister Car Wash will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mister Car Wash news, CEO John Lo-Minn Lai sold 23,161 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 $178,108.09. Following the sale, the chief executive officer now owns 2,622,146 shares of the company’s stock, valued at approximately $20,164,302.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Mayra Idali Chimienti sold 35,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Lo-Minn Lai sold 23,161 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $7.69, for a total transaction of $178,108.09. Following the completion of the sale, the chief executive officer now owns 2,622,146 shares in the company, valued at $20,164,302.74. The disclosure for this sale can be found here. Insiders sold 104,161 shares of company stock valued at $824,667 in the last three months. 70.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mister Car Wash

Several hedge funds have recently made changes to their positions in the business. Brown Advisory Inc. lifted its stake in Mister Car Wash by 14.4% during the fourth quarter. Brown Advisory Inc. now owns 13,535,668 shares of the company’s stock valued at $116,948,000 after purchasing an additional 1,706,435 shares during the last quarter. Wasatch Advisors LP lifted its position in shares of Mister Car Wash by 9.6% during the 4th quarter. Wasatch Advisors LP now owns 16,156,000 shares of the company’s stock valued at $139,588,000 after acquiring an additional 1,409,892 shares during the last quarter. Woodson Capital Management LP boosted its stake in shares of Mister Car Wash by 80.5% during the 4th 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 in the last quarter. Rip Road Capital Partners LP acquired a new position in shares of Mister Car Wash in the 4th quarter worth $4,798,000. Finally, Sea Cliff Partners Management LP acquired a new stake in shares of Mister Car Wash during the fourth quarter worth $4,218,000.

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.