European Wax Center, Inc. (NASDAQ:EWCZ) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of European Wax Center, Inc. (NASDAQ:EWCZ - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $7.64.

A number of brokerages have issued reports on EWCZ. Truist Financial cut 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. 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. Bank of America cut their price target on European Wax Center from $16.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, August 21st. Piper Sandler decreased their price objective 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. Finally, Robert W. Baird dropped their price objective on European Wax Center from $13.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, August 15th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in European Wax Center during the third quarter worth about $93,000. Dark Forest Capital Management LP purchased a new stake in shares of European Wax Center during the 2nd quarter worth about $127,000. Algert Global LLC acquired a new stake in European Wax Center during the 2nd quarter worth approximately $135,000. Creative Planning raised its holdings in European Wax Center by 72.6% in the third quarter. Creative Planning now owns 21,501 shares of the company's stock valued at $146,000 after buying an additional 9,044 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in European Wax Center by 508.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company's stock valued at $369,000 after buying an additional 31,022 shares in the last quarter. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

European Wax Center Price Performance

Shares of EWCZ traded down $0.03 on Friday, reaching $6.78. The stock had a trading volume of 290,315 shares, compared to its average volume of 692,460. The firm has a 50-day moving average of $6.82 and a 200 day moving average of $9.43. The firm has a market capitalization of $412.43 million, a PE ratio of 27.12, a PEG ratio of 2.35 and a beta of 1.13. European Wax Center has a twelve month low of $4.80 and a twelve month high of $16.76. 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 (NASDAQ:EWCZ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.05. The business had revenue of $59.87 million during 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%. Sell-side analysts expect that European Wax Center will post 0.24 EPS for the current 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.