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

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Three 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 analysts that have issued a report on the stock in the last year is $7.64.

Several analysts recently commented on EWCZ shares. Morgan Stanley dropped 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. Bank of America dropped their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Truist Financial 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 note on Thursday, August 15th. Robert W. Baird decreased their price objective on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Finally, Citigroup lowered shares of European Wax Center from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $5.50 in a research note on Thursday, August 15th.

Hedge Funds Weigh In On European Wax Center

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of European Wax Center during the 3rd quarter worth approximately $93,000. Royce & Associates LP purchased a new position in shares of European Wax Center during the third quarter worth $108,000. Aigen Investment Management LP acquired a new stake in shares of European Wax Center in the third quarter valued at $114,000. Dark Forest Capital Management LP purchased a new stake in shares of European Wax Center in the 2nd quarter valued at $127,000. Finally, Algert Global LLC acquired a new position in European Wax Center during the 2nd quarter worth about $135,000. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

European Wax Center Trading Down 1.4 %

EWCZ opened at $7.93 on Thursday. The stock has a fifty day moving average price of $7.04 and a 200-day moving average price of $8.77. European Wax Center has a 12 month low of $4.80 and a 12 month high of $16.07. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18. The firm has a market cap of $475.64 million, a price-to-earnings ratio of 30.50, a PEG ratio of 2.68 and a beta of 1.11.

European Wax Center (NASDAQ:EWCZ) last issued its earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter, topping 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. As a group, equities research analysts anticipate that European Wax Center will post 0.24 earnings per share for the current fiscal year.

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.