JPMorgan Chase & Co. Lowers Mister Car Wash (NYSE:MCW) Price Target to $8.00

Mister Car Wash (NYSE:MCW) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $8.50 to $8.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 55.95% from the company’s current price.

Several other equities analysts also recently commented on MCW. Guggenheim set a $8.00 price objective on shares of Mister Car Wash and gave the company a “buy” rating in a research note on Monday, August 4th. Morgan Stanley lowered their price target on Mister Car Wash from $9.00 to $7.50 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. Raymond James Financial reiterated an “outperform” rating and issued a $8.00 price objective on shares of Mister Car Wash in a report on Thursday, October 30th. Piper Sandler cut Mister Car Wash from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $8.00 to $6.00 in a research note on Friday, October 24th. Finally, Mizuho set a $8.00 price target on Mister Car Wash in a research note on Thursday, October 30th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Mister Car Wash presently has an average rating of “Hold” and an average price target of $7.23.

Mister Car Wash Stock Performance

NYSE:MCW opened at $5.13 on Friday. The firm has a market cap of $1.68 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.65 and a beta of 1.47. 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 quick ratio of 0.24 and a current ratio of 0.53. The business has a 50 day moving average price of $5.27 and a 200-day moving average price of $6.10.

Mister Car Wash (NYSE:MCW) last issued its earnings results on Wednesday, October 29th. The company reported $0.11 EPS 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 company had revenue of $263.42 million for the quarter, compared to the consensus estimate of $261.47 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Mister Car Wash has set its FY 2025 guidance at 0.420-0.430 EPS. Equities research analysts predict that Mister Car Wash will post 0.33 earnings per share for the current year.

Institutional Investors Weigh In On Mister Car Wash

Several hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new stake in Mister Car Wash in the first quarter worth $112,000. Principal Financial Group Inc. boosted its holdings in shares of Mister Car Wash by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 466,540 shares of the company’s stock valued at $3,681,000 after buying an additional 10,404 shares in the last quarter. Cornerstone Investment Partners LLC purchased a new stake in shares of Mister Car Wash in the 1st quarter worth about $159,000. New York State Common Retirement Fund increased its stake in shares of Mister Car Wash by 34.0% in the 1st quarter. New York State Common Retirement Fund now owns 178,028 shares of the company’s stock worth $1,405,000 after acquiring an additional 45,202 shares in the last quarter. Finally, CWM LLC lifted its position in Mister Car Wash by 10.1% during the 1st quarter. CWM LLC now owns 18,976 shares of the company’s stock valued at $150,000 after acquiring an additional 1,748 shares during the period.

Mister Car Wash Company Profile

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.