European Wax Center, Inc. (NASDAQ:EWCZ) Receives $7.64 Consensus PT from Analysts

European Wax Center, Inc. (NASDAQ:EWCZ) has received an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $7.64.

A number of research firms recently weighed in on EWCZ. Piper Sandler lowered their price target on shares of European Wax Center from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Bank of America dropped their price target on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Telsey Advisory Group restated an “outperform” rating and set a $8.00 price target on shares of European Wax Center in a report on Friday, September 20th. Citigroup downgraded shares of European Wax Center from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $5.50 in a research report on Thursday, August 15th. 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 report on Thursday, August 15th.

European Wax Center Trading Up 2.6 %

Shares of European Wax Center stock opened at $6.66 on Friday. The company has a quick ratio of 2.72, a current ratio of 3.49 and a debt-to-equity ratio of 3.18. The company’s 50-day simple moving average is $6.77 and its 200-day simple moving average is $9.34. European Wax Center has a 52-week low of $4.80 and a 52-week high of $16.76. The firm has a market cap of $405.13 million, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.13.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Champlain Investment Partners LLC boosted its holdings in European Wax Center by 13.1% in the first quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock valued at $48,617,000 after acquiring an additional 435,270 shares during the last quarter. Bamco Inc. NY raised its position 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 worth $42,380,000 after purchasing an additional 265,000 shares during the period. Teachers Retirement System of The State of Kentucky raised its position 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 worth $1,115,000 after purchasing an additional 21,054 shares during the period. Millennium Management LLC raised its position in shares of European Wax Center by 44.0% during the second quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after purchasing an additional 164,688 shares during the period. Finally, Vanguard Group Inc. raised its position in European Wax Center by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock valued at $24,523,000 after buying an additional 29,918 shares during the last quarter. Institutional investors and hedge funds 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.