European Wax Center's (EWCZ) "Underweight" Rating Reiterated at Morgan Stanley

European Wax Center (NASDAQ:EWCZ - Get Free Report)'s stock had its "underweight" rating reissued by analysts at Morgan Stanley in a research report issued to clients and investors on Friday, MarketBeat.com reports. They presently have a $5.00 target price on the stock. Morgan Stanley's price target would suggest a potential downside of 15.11% from the company's previous close.

A number of other equities research analysts have also recently commented on EWCZ. Citigroup cut European Wax Center from a "buy" rating to a "neutral" rating and lowered their target price for the company from $16.00 to $5.50 in a report on Thursday, August 15th. Telsey Advisory Group reiterated an "outperform" rating and set a $8.00 target price on shares of European Wax Center in a report on Thursday. Robert W. Baird lowered their target price on European Wax Center from $13.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, August 15th. Truist Financial decreased 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 Thursday, August 15th. Finally, Bank of America decreased 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, European Wax Center has a consensus rating of "Hold" and a consensus target price of $7.64.

European Wax Center Price Performance

NASDAQ EWCZ traded down $0.27 during mid-day trading on Friday, hitting $5.89. The stock had a trading volume of 1,041,297 shares, compared to its average volume of 678,313. The company has a 50 day simple moving average of $7.11 and a 200 day simple moving average of $8.69. The company has a market cap of $353.28 million, a price-to-earnings ratio of 23.67, a P/E/G ratio of 2.71 and a beta of 1.11. The company has a quick ratio of 2.72, a current ratio of 3.49 and a debt-to-equity ratio of 3.18. European Wax Center has a 52-week low of $4.80 and a 52-week high of $16.07.

European Wax Center (NASDAQ:EWCZ - Get Free Report) last announced its earnings results on Wednesday, August 14th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 13.84% and a net margin of 5.61%. Equities analysts forecast that European Wax Center will post 0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Atom Investors LP raised its position in shares of European Wax Center by 57.4% in the 3rd quarter. Atom Investors LP now owns 184,784 shares of the company's stock worth $1,257,000 after buying an additional 67,371 shares during the period. Southpoint Capital Advisors LP raised its position in shares of European Wax Center by 5.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company's stock worth $13,600,000 after buying an additional 100,000 shares during the period. Walleye Capital LLC purchased a new position in shares of European Wax Center in the 3rd quarter worth $754,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of European Wax Center by 37.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,204 shares of the company's stock worth $348,000 after buying an additional 14,086 shares during the period. Finally, Quantbot Technologies LP raised its position in shares of European Wax Center by 52.3% in the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company's stock worth $153,000 after buying an additional 7,709 shares during the period. 82.14% of the stock is owned by hedge funds and other 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.