Mister Car Wash (NYSE:MCW) Earns Neutral Rating from JPMorgan Chase & Co.

Mister Car Wash (NYSE:MCW)‘s stock had its “neutral” rating restated by equities researchers at JPMorgan Chase & Co. in a report released on Monday, MarketBeat.com reports. They currently have a $7.00 target price on the stock, down from their prior target price of $8.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 0.14% from the stock’s previous close.

Several other brokerages have also recently weighed in on MCW. Zacks Research raised shares of Mister Car Wash from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Mizuho reaffirmed a “neutral” rating and set a $7.00 target price (down from $8.00) on shares of Mister Car Wash in a research note on Wednesday, February 18th. William Blair cut shares of Mister Car Wash from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Morgan Stanley set a $7.00 price target on shares of Mister Car Wash in a report on Thursday, February 19th. Finally, Raymond James Financial lowered shares of Mister Car Wash from a “moderate buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.10.

Mister Car Wash Stock Performance

Shares of Mister Car Wash stock opened at $6.99 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 stock’s 50 day simple moving average is $5.94 and its 200-day simple moving average is $5.56. The stock has a market cap of $2.29 billion, a P/E ratio of 31.77, a P/E/G ratio of 1.65 and a beta of 1.46. Mister Car Wash has a 1-year low of $4.61 and a 1-year high of $8.60.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm 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%.The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 earnings per share. Analysts predict that Mister Car Wash will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Mister Car Wash

Institutional investors have recently modified their holdings of the company. Greenhouse Funds LLLP raised its holdings in shares of Mister Car Wash by 9.4% in the 3rd quarter. Greenhouse Funds LLLP now owns 16,863,562 shares of the company’s stock valued at $89,883,000 after buying an additional 1,444,691 shares during the period. Dimensional Fund Advisors LP increased its stake in Mister Car Wash by 9.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,607,392 shares of the company’s stock worth $36,738,000 after purchasing an additional 559,000 shares during the period. The Manufacturers Life Insurance Company increased its stake in Mister Car Wash by 27.4% during the second quarter. The Manufacturers Life Insurance Company now owns 6,166,833 shares of the company’s stock worth $37,063,000 after purchasing an additional 1,327,745 shares during the period. State Street Corp lifted its position in shares of Mister Car Wash by 2.6% during the fourth quarter. State Street Corp now owns 3,633,753 shares of the company’s stock worth $20,204,000 after purchasing an additional 92,304 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Mister Car Wash by 28.1% in the third quarter. Millennium Management LLC now owns 2,641,893 shares of the company’s stock valued at $14,081,000 after purchasing an additional 579,213 shares during the period.

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.