Analysts Set European Wax Center, Inc. (NASDAQ:EWCZ) PT at $8.79

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $7.64.

Several analysts have commented on the stock. Robert W. Baird lowered their price objective on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Citigroup downgraded shares of European Wax Center from a “buy” rating to a “neutral” rating and decreased their target price for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $8.00 target price on shares of European Wax Center in a research note on Friday. Piper Sandler decreased their target price on shares of European Wax Center from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, July 11th. Finally, Truist Financial decreased their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 15th.

Hedge Funds Weigh In On European Wax Center

Several hedge funds and other institutional investors have recently bought and sold shares of EWCZ. Bessemer Group Inc. raised its holdings in shares of European Wax Center by 14.2% during the first quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock valued at $643,000 after purchasing an additional 6,170 shares during the last quarter. Diversified Trust Co increased its holdings in European Wax Center by 41.0% during the first quarter. Diversified Trust Co now owns 31,540 shares of the company’s stock valued at $409,000 after buying an additional 9,175 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in European Wax Center by 15.5% during the second quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock valued at $836,000 after buying an additional 11,300 shares during the last quarter. Victory Capital Management Inc. increased its holdings in European Wax Center by 25.7% during the second quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock valued at $566,000 after buying an additional 11,650 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in European Wax Center during the fourth quarter valued at approximately $166,000. Institutional investors own 82.14% of the company’s stock.

European Wax Center Stock Performance

European Wax Center stock opened at $7.04 on Wednesday. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18. The firm has a 50-day moving average of $7.53 and a 200-day moving average of $10.19. The firm has a market cap of $428.24 million, a P/E ratio of 28.24, a P/E/G ratio of 2.29 and a beta of 1.13. European Wax Center has a 1-year low of $4.80 and a 1-year high of $18.04.

European Wax Center (NASDAQ:EWCZ) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. European Wax Center had a net margin of 5.61% and a return on equity of 13.84%. The business had revenue of $59.87 million during the quarter, compared to analyst estimates of $61.27 million. Sell-side analysts expect that European Wax Center will post 0.24 EPS for the current year.

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.