European Wax Center (NASDAQ:EWCZ) Given Underweight Rating at Morgan Stanley

European Wax Center (NASDAQ:EWCZ)‘s stock had its “underweight” rating reaffirmed by equities research analysts at Morgan Stanley in a research report issued on Friday, Marketbeat reports. They presently have a $5.00 price objective on the stock. Morgan Stanley’s price target indicates a potential downside of 18.77% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Telsey Advisory Group reissued an “outperform” rating and issued a $8.00 target price on shares of European Wax Center in a report on Thursday. Citigroup downgraded European Wax Center from a “buy” rating to a “neutral” rating and cut their price target for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. 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 research report on Thursday, August 15th. Bank of America dropped their price target 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 Wednesday, August 21st. Finally, 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, European Wax Center currently has a consensus rating of “Hold” and an average target price of $7.64.

European Wax Center Trading Down 23.2 %

NASDAQ EWCZ opened at $6.16 on Friday. The stock has a market cap of $369.18 million, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 2.71 and a beta of 1.11. European Wax Center has a fifty-two week low of $4.80 and a fifty-two week high of $16.07. The stock has a 50 day simple moving average of $7.11 and a two-hundred day simple moving average of $8.69. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.72 and a current ratio of 3.49.

European Wax Center (NASDAQ:EWCZ) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $59.87 million for the quarter, compared to analysts’ expectations of $61.27 million. On average, analysts forecast that European Wax Center will post 0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EWCZ. Bessemer Group Inc. lifted its position in shares of European Wax Center by 14.2% in the first quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock worth $643,000 after buying an additional 6,170 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of European Wax Center by 52.3% during the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock worth $153,000 after acquiring an additional 7,709 shares in the last quarter. Creative Planning raised its holdings in shares of European Wax Center by 72.6% during the 3rd quarter. Creative Planning now owns 21,501 shares of the company’s stock worth $146,000 after acquiring an additional 9,044 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of European Wax Center by 15.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock valued at $836,000 after acquiring an additional 11,300 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of European Wax Center by 25.7% in the second quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock valued at $566,000 after purchasing an additional 11,650 shares in the last quarter. Institutional investors own 82.14% of the company’s stock.

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.