European Wax Center (NASDAQ:EWCZ) Sets New 52-Week Low at $8.62

European Wax Center, Inc. (NASDAQ:EWCZ) shares reached a new 52-week low during trading on Thursday . The company traded as low as $8.62 and last traded at $8.64, with a volume of 134823 shares changing hands. The stock had previously closed at $9.39.

Analyst Ratings Changes

A number of analysts recently commented on the company. Citigroup decreased their price objective on European Wax Center from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Truist Financial cut their price objective on European Wax Center from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Telsey Advisory Group reiterated an “outperform” rating and set a $16.00 target price on shares of European Wax Center in a report on Thursday, May 30th. Piper Sandler dropped 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, Bank of America lowered their price objective on European Wax Center from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, European Wax Center has an average rating of “Moderate Buy” and an average target price of $15.00.

European Wax Center Stock Down 7.2 %

The firm has a 50 day simple moving average of $10.32 and a two-hundred day simple moving average of $12.19. The company has a debt-to-equity ratio of 3.10, a quick ratio of 2.31 and a current ratio of 2.95. The stock has a market cap of $529.83 million, a P/E ratio of 37.56, a P/E/G ratio of 1.79 and a beta of 1.18.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of European Wax Center in the fourth quarter worth about $129,000. Quest Partners LLC acquired a new position in shares of European Wax Center during the 4th quarter worth about $166,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of European Wax Center by 508.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock worth $369,000 after purchasing an additional 31,022 shares during the last quarter. Diversified Trust Co lifted its position in shares of European Wax Center by 41.0% during the 1st quarter. Diversified Trust Co now owns 31,540 shares of the company’s stock worth $409,000 after purchasing an additional 9,175 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of European Wax Center during the 4th quarter worth about $565,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.

European Wax Center Company Profile

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.