European Wax Center, Inc. (NASDAQ:EWCZ) Receives Average Rating of “Moderate Buy” from Analysts

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $7.64.

Several equities research analysts recently commented on the stock. 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 research report on Thursday, August 15th. 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, September 20th. Bank of America dropped their price objective on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Citigroup lowered 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. Finally, Morgan Stanley dropped their price target on European Wax Center from $14.00 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th.

European Wax Center Price Performance

Shares of NASDAQ:EWCZ opened at $8.01 on Thursday. The firm has a market capitalization of $480.44 million, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11. The company has a debt-to-equity ratio of 3.18, a current ratio of 3.49 and a quick ratio of 2.72. The business’s 50 day simple moving average is $7.13 and its 200-day simple moving average is $8.70. European Wax Center has a 12 month low of $4.80 and a 12 month high of $16.07.

European Wax Center (NASDAQ:EWCZ) last posted its earnings results on Wednesday, August 14th. The company reported $0.12 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 for the quarter, compared to the consensus estimate of $61.27 million. As a group, equities analysts forecast that European Wax Center will post 0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.