European Wax Center, Inc. (NASDAQ:EWCZ) Given Average Rating of “Moderate Buy” by Brokerages

European Wax Center, Inc. (NASDAQ:EWCZ) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Three equities research 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 brokerages that have issued a report on the stock in the last year is $7.64.

EWCZ has been the subject of a number of research reports. Citigroup cut European Wax Center from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $16.00 to $5.50 in a report on Thursday, August 15th. Piper Sandler lowered their target price on European Wax Center from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Truist Financial lowered their target price on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Bank of America lowered their target price 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. Finally, Morgan Stanley lowered their target price on European Wax Center from $14.00 to $5.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th.

Institutional Investors Weigh In On European Wax Center

Hedge funds have recently bought and sold shares of the company. Dark Forest Capital Management LP acquired a new stake in European Wax Center in the 2nd quarter valued at about $127,000. Algert Global LLC acquired a new stake in European Wax Center in the 2nd quarter valued at about $135,000. SG Americas Securities LLC acquired a new stake in European Wax Center in the 3rd quarter valued at about $93,000. Creative Planning lifted its stake in European Wax Center by 72.6% in the 3rd quarter. Creative Planning now owns 21,501 shares of the company’s stock valued at $146,000 after purchasing an additional 9,044 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in European Wax Center by 41.0% in the 1st quarter. Diversified Trust Co now owns 31,540 shares of the company’s stock valued at $409,000 after purchasing an additional 9,175 shares during the last quarter. 82.14% of the stock is currently owned by institutional investors and hedge funds.

European Wax Center Stock Up 2.3 %

NASDAQ:EWCZ opened at $7.08 on Friday. The stock’s fifty day moving average price is $6.75 and its two-hundred day moving average price is $9.30. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.72 and a current ratio of 3.49. The company has a market cap of $430.68 million, a price-to-earnings ratio of 28.32, a P/E/G ratio of 2.35 and a beta of 1.13. European Wax Center has a 52-week low of $4.80 and a 52-week high of $16.31.

European Wax Center (NASDAQ:EWCZ) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. European Wax Center had a net margin of 5.61% and a return on equity of 13.84%. The business had revenue of $59.87 million during the quarter, compared to analysts’ expectations of $61.27 million. On average, analysts anticipate that European Wax Center will post 0.24 EPS for the current year.

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.