Telsey Advisory Group Reiterates “Outperform” Rating for European Wax Center (NASDAQ:EWCZ)

European Wax Center (NASDAQ:EWCZ)‘s stock had its “outperform” rating reaffirmed by investment analysts at Telsey Advisory Group in a research note issued to investors on Friday, Benzinga reports. They currently have a $8.00 target price on the stock. Telsey Advisory Group’s price target indicates a potential upside of 13.64% from the company’s previous close.

A number of other research firms have also recently weighed in on EWCZ. Bank of America lowered their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Morgan Stanley lowered their price objective on European Wax Center from $14.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Piper Sandler lowered their price objective on European Wax Center from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Truist Financial lowered their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Robert W. Baird lowered their price objective on 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.64.

European Wax Center Trading Down 4.6 %

Shares of NASDAQ:EWCZ opened at $7.04 on Friday. The stock has a market capitalization of $428.24 million, a price-to-earnings ratio of 28.16, a PEG ratio of 2.29 and a beta of 1.13. 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 stock’s 50-day simple moving average is $7.47 and its two-hundred day simple moving average is $10.15. European Wax Center has a 52-week low of $4.80 and a 52-week high of $18.04.

European Wax Center (NASDAQ:EWCZ) last announced its earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.05. The business 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%. Analysts expect that European Wax Center will post 0.24 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Champlain Investment Partners LLC lifted its holdings in European Wax Center by 13.1% in the 1st quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock worth $48,617,000 after purchasing an additional 435,270 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of European Wax Center by 8.8% during the 1st quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock worth $42,380,000 after acquiring an additional 265,000 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of European Wax Center by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company’s stock worth $31,564,000 after acquiring an additional 81,704 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of European Wax Center by 3.5% during the 4th quarter. Wellington Management Group LLP now owns 2,279,389 shares of the company’s stock worth $30,977,000 after acquiring an additional 77,334 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of European Wax Center by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after acquiring an additional 29,918 shares in the last quarter. 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.