JPMorgan Chase & Co. Has $437,000 Holdings in Mister Car Wash, Inc. $MCW

Key Points

• JPMorgan Chase & Co. cut its stake in Mister Car Wash by 91.6% in Q3, selling 897,303 shares and leaving 81,946 shares worth about $437,000.
• Several brokerages have downgraded MCW recently and Wall Street’s consensus rating is Hold, with an average target price of $7.10 (one Buy, 13 Hold, one Sell).
• Mister Car Wash slightly beat quarterly EPS expectations ($0.11 vs. $0.10) with revenue up 4% year‑over‑year; the stock trades near $6.99, has a $2.3B market cap and a PE of about 31.8.

JPMorgan Chase & Co. reduced its holdings in Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 91.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,946 shares of the company's stock after selling 897,303 shares during the quarter. JPMorgan Chase & Co.'s holdings in Mister Car Wash were worth $437,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Mister Car Wash by 75.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,038 shares of the company's stock worth $42,000 after acquiring an additional 3,027 shares in the last quarter. Quarry LP boosted its holdings in shares of Mister Car Wash by 65.7% in the 3rd quarter. Quarry LP now owns 7,604 shares of the company's stock worth $41,000 after acquiring an additional 3,016 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Mister Car Wash by 18,260.0% in the 3rd 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. Tower Research Capital LLC TRC boosted its holdings in shares of Mister Car Wash by 140.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,700 shares of the company's stock worth $58,000 after acquiring an additional 5,659 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Mister Car Wash in the 3rd quarter worth approximately $56,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MCW. Wells Fargo & Company downgraded Mister Car Wash from an "overweight" rating to an "equal weight" rating and set a $7.00 target price on the stock. in a report on Wednesday, February 18th. Guggenheim cut shares of Mister Car Wash from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 18th. BMO Capital Markets cut shares of Mister Car Wash from an "outperform" rating to a "hold" rating and set a $7.00 price objective for the company. in a research report on Thursday, February 19th. Morgan Stanley set a $7.00 price objective on shares of Mister Car Wash in a research report on Thursday, February 19th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $7.00 price objective (down from $8.00) on shares of Mister Car Wash in a research report on Monday, February 23rd. One analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.10.

Mister Car Wash Stock Performance

MCW stock opened at $6.99 on Tuesday. 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 50 day moving average price of $6.77 and a 200 day moving average price of $5.89. Mister Car Wash, Inc. has a fifty-two week low of $4.61 and a fifty-two week high of $7.98. The stock has a market capitalization of $2.30 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 1.65 and a beta of 1.37.

Mister Car Wash (NYSE:MCW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The firm had revenue of $261.24 million during the quarter, compared to analysts' expectations of $262.35 million. During the same quarter in the previous year, the company posted $0.09 EPS. Mister Car Wash's revenue was up 4.0% on a year-over-year basis. Analysts forecast that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

Mister Car Wash 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.