Brokerages Set European Wax Center, Inc. (NASDAQ:EWCZ) Target Price at $8.79

European Wax Center, Inc. (NASDAQ:EWCZ) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $7.64.

EWCZ has been the topic of several research analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $8.00 price target on shares of European Wax Center in a report on Friday. Citigroup cut European Wax Center from a “buy” rating to a “neutral” rating and reduced their target price for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. Morgan Stanley reduced their target price on European Wax Center from $14.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Bank of America reduced their target price on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Finally, Piper Sandler reduced their target price on European Wax Center from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th.

European Wax Center Price Performance

European Wax Center stock opened at $7.04 on Wednesday. European Wax Center has a 12 month low of $4.80 and a 12 month high of $18.04. 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 business’s 50 day simple moving average is $7.53 and its 200 day simple moving average is $10.19. The company has a market cap of $428.24 million, a price-to-earnings ratio of 28.24, a PEG ratio of 2.29 and a beta of 1.13.

European Wax Center (NASDAQ:EWCZ) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.05. The firm had revenue of $59.87 million for the quarter, compared to analysts’ expectations of $61.27 million. European Wax Center had a net margin of 5.61% and a return on equity of 13.84%. Sell-side analysts forecast that European Wax Center will post 0.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Champlain Investment Partners LLC grew its stake 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 boosted 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 worth $42,380,000 after purchasing an additional 265,000 shares during the period. Teachers Retirement System of The State of Kentucky boosted 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 worth $1,115,000 after purchasing an additional 21,054 shares during the period. Quest Partners LLC purchased a new stake in shares of European Wax Center during the fourth quarter worth about $166,000. Finally, Vanguard Group Inc. boosted its holdings in shares of European Wax Center by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after purchasing an additional 29,918 shares during the period. 82.14% of the stock is owned by institutional investors.

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.