Mister Car Wash (NYSE:MCW) Upgraded to Overweight by JPMorgan Chase & Co.

Mister Car Wash (NYSE:MCW - Get Free Report) was upgraded by analysts at 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 target price would suggest a potential upside of 16.12% from the stock's current price.

Several other research firms have also recently commented on MCW. Mizuho assumed coverage on Mister Car Wash in a report on Tuesday, March 19th. They issued a "buy" rating and a $11.00 price target for the company. Wells Fargo & Company decreased their price target on shares of Mister Car Wash from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Monday, April 22nd. Finally, Robert W. Baird increased their price objective on shares of Mister Car Wash from $10.00 to $12.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $9.75.

Mister Car Wash Stock Performance

NYSE:MCW traded up $0.34 during midday trading on Friday, reaching $7.32. The stock had a trading volume of 4,399,150 shares, compared to its average volume of 1,511,263. The stock has a market capitalization of $2.33 billion, a P/E ratio of 30.35, a PEG ratio of 2.20 and a beta of 1.66. The firm's fifty day simple moving average is $7.29 and its 200-day simple moving average is $7.57. Mister Car Wash has a 1-year low of $4.80 and a 1-year high of $10.07. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.36 and a quick ratio of 0.31.

Mister Car Wash (NYSE:MCW - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $230.14 million for the quarter, compared to analyst estimates of $230.89 million. Mister Car Wash had a net margin of 8.04% and a return on equity of 9.48%. On average, equities research analysts forecast that Mister Car Wash will post 0.27 EPS for the current fiscal year.

Insider Activity

In related news, insider Joseph Duane Matheny sold 37,152 shares of Mister Car Wash stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $8.93, for a total transaction of $331,767.36. Following the completion of the transaction, the insider now directly owns 75,515 shares of the company's stock, valued at approximately $674,348.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Joseph Duane Matheny sold 37,152 shares of the firm's stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $8.93, for a total transaction of $331,767.36. Following the completion of the sale, the insider now directly owns 75,515 shares of the company's stock, valued at approximately $674,348.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jedidiah Marc Gold sold 4,857 shares of the business's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $7.69, for a total value of $37,350.33. Following the completion of the transaction, the chief financial officer now directly owns 33,933 shares in the company, valued at approximately $260,944.77. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,161 shares of company stock worth $824,667. Corporate insiders own 70.00% of the company's stock.

Hedge Funds Weigh In On Mister Car Wash

Institutional investors have recently modified their holdings of the stock. ORG Partners LLC bought a new position in Mister Car Wash in the 4th quarter worth approximately $43,000. SG Americas Securities LLC acquired a new position in shares of Mister Car Wash during the third quarter valued at $73,000. CenterBook Partners LP bought a new position in Mister Car Wash in the third quarter valued at about $80,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Mister Car Wash by 57.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,795 shares of the company's stock worth $93,000 after purchasing an additional 6,103 shares during the period. Finally, Pathstone Family Office LLC raised its holdings in Mister Car Wash by 59.2% during the 3rd quarter. Pathstone Family Office LLC now owns 19,318 shares of the company's stock worth $106,000 after purchasing an additional 7,187 shares during the last quarter.

About Mister Car Wash

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.