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

European Wax Center, Inc. (NASDAQ:EWCZ) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $15.00.

Several equities analysts have weighed in on the company. Citigroup dropped their price objective on European Wax Center from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Piper Sandler dropped their price target on 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. Truist Financial decreased their target price on shares of European Wax Center from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Bank of America dropped their target price on shares of 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. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $16.00 price target on shares of European Wax Center in a research report on Thursday, May 30th.

Institutional Trading of European Wax Center

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of European Wax Center in the 4th quarter valued at $129,000. Quest Partners LLC acquired a new stake in shares of European Wax Center during the fourth quarter valued at about $166,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of European Wax Center by 508.9% during the second 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 increased its stake in shares of European Wax Center by 41.0% in 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 period. Finally, Victory Capital Management Inc. bought a new position in European Wax Center in the 4th quarter valued at approximately $565,000. Institutional investors and hedge funds own 82.14% of the company’s stock.

European Wax Center Trading Down 6.8 %

EWCZ stock opened at $8.12 on Tuesday. European Wax Center has a 52 week low of $8.09 and a 52 week high of $20.00. 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 company’s 50-day simple moving average is $10.23 and its 200 day simple moving average is $12.09. The company has a market capitalization of $493.94 million, a PE ratio of 32.48, a price-to-earnings-growth ratio of 1.74 and a beta of 1.17.

European Wax Center (NASDAQ:EWCZ) last announced 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. European Wax Center had a net margin of 5.50% and a return on equity of 11.01%. The firm had revenue of $51.87 million for the quarter, compared to analyst estimates of $51.88 million. As a group, sell-side analysts anticipate that European Wax Center will post 0.3 earnings per share 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.