Telsey Advisory Group Reiterates “Outperform” Rating for European Wax Center (NASDAQ:EWCZ)

European Wax Center (NASDAQ:EWCZ)‘s stock had its “outperform” rating restated by equities research analysts at Telsey Advisory Group in a research report issued on Wednesday, Benzinga reports. They currently have a $16.00 price target on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 210.08% from the stock’s previous close.

Several other brokerages have also recently issued reports on EWCZ. Citigroup reduced their price target on shares of European Wax Center from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Bank of America reduced their price target on shares of European Wax Center from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Piper Sandler reduced their price target on shares of European Wax Center from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, Truist Financial cut their price objective 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

European Wax Center Trading Down 25.5 %

Shares of NASDAQ:EWCZ traded down $1.77 during midday trading on Wednesday, hitting $5.16. 4,629,792 shares of the stock traded hands, compared to its average volume of 629,933. European Wax Center has a one year low of $4.96 and a one year high of $18.28. The company has a quick ratio of 2.31, a current ratio of 2.95 and a debt-to-equity ratio of 3.10. The business’s 50 day moving average is $9.68 and its two-hundred day moving average is $11.68. The stock has a market capitalization of $313.88 million, a PE ratio of 20.44, a P/E/G ratio of 1.74 and a beta of 1.17.

European Wax Center (NASDAQ:EWCZ) last announced its quarterly earnings results on Wednesday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $51.87 million for the quarter, compared to analysts’ expectations of $51.88 million. As a group, research analysts forecast that European Wax Center will post 0.3 earnings per share for the current year.

Institutional Investors Weigh In On European Wax Center

Institutional investors have recently made changes to their positions in the company. Champlain Investment Partners LLC grew its holdings in shares of European Wax Center by 13.1% during the first quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock valued at $48,617,000 after buying an additional 435,270 shares during the last quarter. Bamco Inc. NY grew its holdings in shares of European Wax Center by 8.8% during the first quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock valued at $42,380,000 after buying an additional 265,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of European Wax Center by 34.5% during the fourth 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 during the last quarter. Federated Hermes Inc. lifted its position in European Wax Center by 13.3% during the fourth quarter. Federated Hermes Inc. now owns 1,360,000 shares of the company’s stock valued at $18,482,000 after purchasing an additional 160,000 shares during the period. Finally, Quest Partners LLC bought a new position in European Wax Center during the fourth quarter valued at approximately $166,000. Hedge funds and other institutional investors 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.