Mister Car Wash (NYSE:MCW) Downgraded to “Hold” Rating by Mizuho

Mizuho cut shares of Mister Car Wash (NYSE:MCW) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

MCW has been the topic of several other reports. JPMorgan Chase & Co. dropped their price objective on shares of Mister Car Wash from $8.50 to $8.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. UBS Group boosted their target price on shares of Mister Car Wash from $6.25 to $7.00 and gave the company a “neutral” rating in a research report on Thursday. Guggenheim lowered shares of Mister Car Wash from a “buy” rating to a “neutral” rating in a report on Wednesday. Wells Fargo & Company lowered Mister Car Wash from an “overweight” rating to an “equal weight” rating and set a $7.00 price objective for the company. in a research note on Wednesday. Finally, The Goldman Sachs Group set a $5.25 price objective on Mister Car Wash in a report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.19.

Mister Car Wash Stock Performance

Mister Car Wash stock traded up $0.03 during trading hours on Wednesday, hitting $7.00. 2,393,313 shares of the stock traded hands, compared to its average volume of 2,516,428. The firm’s 50 day moving average price is $5.85 and its 200-day moving average price is $5.53. 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 $2.29 billion, a price-to-earnings ratio of 31.80, 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 announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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 company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. As a group, equities analysts expect that Mister Car Wash will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Mister Car Wash

A number of institutional investors have recently modified their holdings of the business. Quarry LP raised its holdings in 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 purchasing an additional 3,016 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Mister Car Wash by 75.5% in the second quarter. EverSource Wealth Advisors LLC now owns 7,038 shares of the company’s stock valued at $42,000 after buying an additional 3,027 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Mister Car Wash by 18,260.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,262 shares of the company’s stock worth $44,000 after buying an additional 8,217 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Mister Car Wash by 1,104.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,217 shares of the company’s stock valued at $46,000 after buying an additional 7,535 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC purchased a new position in shares of Mister Car Wash during the 4th quarter valued at approximately $56,000.

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.