European Wax Center, Inc. (NASDAQ:EWCZ) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $7.64.

EWCZ has been the topic of a number of recent analyst reports. Robert W. Baird reduced their target price on European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Morgan Stanley reduced their target price on European Wax Center from $14.00 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Citigroup cut European Wax Center from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $5.50 in a report on Thursday, August 15th. Piper Sandler reduced their target price on European Wax Center from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $8.00 target price on shares of European Wax Center in a report on Friday, September 20th.

Hedge Funds Weigh In On European Wax Center

Several institutional investors have recently modified their holdings of EWCZ. Bessemer Group Inc. raised its position in European Wax Center by 14.2% in the 1st quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock valued at $643,000 after buying an additional 6,170 shares during the last quarter. Creative Planning raised its position in European Wax Center by 72.6% in the 3rd quarter. Creative Planning now owns 21,501 shares of the company’s stock valued at $146,000 after buying an additional 9,044 shares during the last quarter. Canada Pension Plan Investment Board raised its position in European Wax Center by 15.5% in the 2nd 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. raised its position in European Wax Center by 25.7% in the 2nd 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, Dark Forest Capital Management LP acquired a new stake in European Wax Center in the 2nd quarter valued at approximately $127,000. Institutional investors own 82.14% of the company’s stock.

European Wax Center Stock Performance

Shares of NASDAQ:EWCZ opened at $7.85 on Thursday. European Wax Center has a twelve month low of $4.80 and a twelve month high of $16.07. The firm has a market cap of $470.84 million, a PE ratio of 30.19, a price-to-earnings-growth ratio of 2.51 and a beta of 1.11. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.72 and a current ratio of 3.49. The business has a fifty day moving average of $6.98 and a 200-day moving average of $8.83.

European Wax Center (NASDAQ:EWCZ) last announced its earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. European Wax Center had a return on equity of 13.84% and a net margin of 5.61%. The company had revenue of $59.87 million during the quarter, compared to analyst estimates of $61.27 million. On average, equities research analysts predict that European Wax Center will post 0.24 EPS for the current fiscal 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.