European Wax Center (NASDAQ:EWCZ) Sets New 52-Week Low at $9.48

European Wax Center, Inc. (NASDAQ:EWCZ) reached a new 52-week low on Monday . The stock traded as low as $9.48 and last traded at $9.52, with a volume of 104349 shares trading hands. The stock had previously closed at $9.93.

Analysts Set New Price Targets

A number of analysts have weighed in on EWCZ shares. Citigroup reduced their price target on European Wax Center from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Bank of America decreased their target price on European Wax Center from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Telsey Advisory Group reissued an “outperform” rating and issued a $16.00 price target on shares of European Wax Center in a research report on Thursday, May 30th. Finally, Truist Financial reduced their price objective on shares of European Wax Center from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.33.

European Wax Center Stock Up 3.0 %

The firm has a 50-day moving average price of $11.10 and a two-hundred day moving average price of $12.88. The company has a market capitalization of $608.91 million, a P/E ratio of 40.04, a PEG ratio of 1.97 and a beta of 1.18. The company has a quick ratio of 2.31, a current ratio of 2.95 and a debt-to-equity ratio of 3.10.

European Wax Center (NASDAQ:EWCZ) last issued its quarterly earnings results on Wednesday, May 15th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The firm had revenue of $51.87 million during the quarter, compared to the consensus estimate of $51.88 million. European Wax Center had a net margin of 5.50% and a return on equity of 11.01%. Equities research analysts anticipate that European Wax Center, Inc. will post 0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On European Wax Center

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of European Wax Center by 8.9% during the third quarter. Vanguard Group Inc. now owns 1,795,283 shares of the company’s stock valued at $29,084,000 after purchasing an additional 146,238 shares during the period. American Century Companies Inc. boosted its stake in European Wax Center by 17.5% during the third quarter. American Century Companies Inc. now owns 1,338,265 shares of the company’s stock worth $21,680,000 after buying an additional 199,071 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in European Wax Center by 186.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 268,417 shares of the company’s stock valued at $4,348,000 after buying an additional 174,812 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of European Wax Center by 34.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 82,017 shares of the company’s stock valued at $1,115,000 after buying an additional 21,054 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of European Wax Center by 13.3% during the 4th quarter. Federated Hermes Inc. now owns 1,360,000 shares of the company’s stock worth $18,482,000 after acquiring an additional 160,000 shares during the period. Institutional investors and hedge funds own 82.14% of the company’s stock.

About European Wax Center

European Wax Center, Inc operates as the franchisor and operator of out-of-home waxing services in the United States. It offers body and facial waxing services; and pre- and post-service products, including ingrown hair serums, exfoliating gels, brow shapers, and skin treatments. The company was founded in 2004 and is headquartered in Plano, Texas.