JPMorgan Chase & Co. Reiterates “Neutral” Rating for Mister Car Wash (NYSE:MCW)

Mister Car Wash (NYSE:MCW)‘s stock had its “neutral” rating reiterated by stock analysts at JPMorgan Chase & Co. in a research note issued on Monday, MarketBeat Ratings reports. They currently have a $7.00 price target on the stock, down from their prior price target of $8.00. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 0.43% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on MCW. Morgan Stanley set a $7.00 price target on shares of Mister Car Wash in a research report on Thursday. Wells Fargo & Company lowered Mister Car Wash from an “overweight” rating to an “equal weight” rating and set a $7.00 price objective on the stock. in a research note on Wednesday, February 18th. Zacks Research upgraded Mister Car Wash from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Guggenheim lowered Mister Car Wash from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, The Goldman Sachs Group set a $5.25 price target on Mister Car Wash in a research report on Friday, October 31st. One research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Mister Car Wash has an average rating of “Hold” and a consensus target price of $7.10.

Mister Car Wash Stock Up 0.9%

MCW stock opened at $7.03 on Monday. Mister Car Wash has a fifty-two week low of $4.61 and a fifty-two week high of $8.60. 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 has a market capitalization of $2.30 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 1.65 and a beta of 1.46. The business’s fifty day moving average price is $5.88 and its two-hundred day moving average price is $5.54.

Mister Car Wash (NYSE:MCW) last released 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. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The business had revenue of $261.24 million for the quarter, compared to the consensus estimate of $262.35 million. During the same period in the prior year, the company posted $0.09 earnings per share. Mister Car Wash’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Mister Car Wash will post 0.33 earnings per share for the current year.

Institutional Trading of Mister Car Wash

Several institutional investors and hedge funds have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC bought a new position in Mister Car Wash in the second quarter valued at about $404,000. Squarepoint Ops LLC boosted its stake in shares of Mister Car Wash by 269.8% in the 2nd quarter. Squarepoint Ops LLC now owns 390,568 shares of the company’s stock valued at $2,347,000 after purchasing an additional 284,939 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Mister Car Wash in the 2nd quarter valued at approximately $992,000. Versor Investments LP grew its holdings in shares of Mister Car Wash by 42.3% during the 2nd quarter. Versor Investments LP now owns 194,000 shares of the company’s stock valued at $1,166,000 after purchasing an additional 57,700 shares during the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new position in Mister Car Wash during the 2nd quarter worth approximately $761,000.

About Mister Car Wash

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.