Mister Car Wash’s (MCW) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of Mister Car Wash (NYSE:MCW) in a research note published on Monday, Marketbeat.com reports. The brokerage currently has a $7.00 price objective on the stock, down from their prior price objective of $8.00.

Other research analysts have also issued reports about the company. Zacks Research raised Mister Car Wash from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Piper Sandler upped their target price on shares of Mister Car Wash from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Guggenheim cut shares of Mister Car Wash from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 18th. Mizuho reaffirmed a “neutral” rating and set a $7.00 price objective (down from $8.00) on shares of Mister Car Wash in a research note on Wednesday, February 18th. Finally, Morgan Stanley set a $7.00 price target on Mister Car Wash in a report on Thursday, February 19th. One analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.10.

Mister Car Wash Price Performance

NYSE:MCW opened at $7.01 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24. The company has a fifty day moving average price of $5.96 and a 200 day moving average price of $5.57. Mister Car Wash has a one year low of $4.61 and a one year high of $8.60. The stock has a market cap of $2.30 billion, a P/E ratio of 31.87, a PEG ratio of 1.65 and a beta of 1.46.

Mister Car Wash (NYSE:MCW) last issued its earnings results on Wednesday, February 18th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $261.24 million during the quarter, compared to analysts’ expectations of $262.35 million. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%.Mister Car Wash’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 EPS. Analysts anticipate that Mister Car Wash will post 0.33 earnings per share for the current year.

Institutional Investors Weigh In On Mister Car Wash

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP raised its holdings in shares of Mister Car Wash by 65.7% during the 3rd quarter. Quarry LP now owns 7,604 shares of the company’s stock worth $41,000 after buying an additional 3,016 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Mister Car Wash by 75.5% in the second quarter. EverSource Wealth Advisors LLC now owns 7,038 shares of the company’s stock valued at $42,000 after acquiring an additional 3,027 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Mister Car Wash by 18,260.0% during the third quarter. Russell Investments Group Ltd. now owns 8,262 shares of the company’s stock worth $44,000 after acquiring an additional 8,217 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Mister Car Wash by 1,104.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,217 shares of the company’s stock worth $46,000 after acquiring an additional 7,535 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of Mister Car Wash in the 4th quarter valued at approximately $56,000.

Mister Car Wash Company Profile

Mister Car Wash, traded on the NYSE under the ticker MCW, is a leading provider of vehicle cleaning services in the United States. The company specializes in a tiered range of wash offerings, including express exterior washes, full-service interior and exterior cleaning, and premium detailing services. In addition to one-time washes, Mister Car Wash markets unlimited monthly membership plans that grant customers access to recurring washes at participating locations.

Founded in 1969 and headquartered in Houston, Texas, Mister Car Wash has grown from a single facility to one of the largest car wash chains in the country.