Zacks Investment Research Upgrades Mister Car Wash (NYSE:MCW) to “Buy”

Mister Car Wash logo Mister Car Wash (NYSE:MCW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, Zacks.com reports. The brokerage currently has a $20.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 7.87% from the stock’s previous close.

According to Zacks, “Mister Car Wash Inc. operates car washes. Mister Car Wash Inc. is headquartered in Tucson, Arizona. “

A number of other research analysts also recently weighed in on MCW. UBS Group raised Mister Car Wash from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Friday, September 17th. Bank of America raised Mister Car Wash from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Friday, September 17th. FIG Partners upgraded shares of Mister Car Wash to a “reduce” rating in a report on Tuesday, November 16th. Finally, Morgan Stanley restated a “hold” rating and issued a $19.00 price objective on shares of Mister Car Wash in a report on Friday, December 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $23.22.

MCW opened at $18.54 on Friday. Mister Car Wash has a 12-month low of $15.67 and a 12-month high of $24.49. The company has a 50 day simple moving average of $17.78. The company has a quick ratio of 1.35, a current ratio of 1.39 and a debt-to-equity ratio of 1.01.

Mister Car Wash (NYSE:MCW) last announced its quarterly earnings data on Thursday, November 11th. The company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.01. Mister Car Wash had a negative return on equity of 6.16% and a negative net margin of 2.46%. The firm had revenue of $194.31 million during the quarter, compared to analysts’ expectations of $190.05 million. As a group, equities research analysts anticipate that Mister Car Wash will post -0.12 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY acquired a new stake in shares of Mister Car Wash during the third quarter worth approximately $40,000. First Mercantile Trust Co. lifted its stake in Mister Car Wash by 82.7% in the third quarter. First Mercantile Trust Co. now owns 5,663 shares of the company’s stock valued at $103,000 after buying an additional 2,563 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Mister Car Wash during the third quarter valued at about $52,000. Royal Bank of Canada bought a new stake in shares of Mister Car Wash during the second quarter valued at about $68,000. Finally, UBS Group AG bought a new stake in shares of Mister Car Wash during the third quarter valued at about $75,000. Institutional investors and hedge funds own 95.22% of the company’s stock.

About Mister Car Wash

Mister Car Wash, Inc provides conveyorized car wash services in the United States. It offers express exterior and interior cleaning services. The company also provides related automotive services, including quick lube services and gasoline sales. As of March 31, 2021, it operated 344 car wash locations in 21 states, which include 263 express exterior locations and 81 interior cleaning locations.