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

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts 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 reduced their price objective for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. Bank of America reduced 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. Robert W. Baird lowered 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. Truist Financial reduced 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 report on Thursday, August 15th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $8.00 price target on shares of European Wax Center in a report on Friday, September 20th.

European Wax Center Price Performance

Shares of NASDAQ:EWCZ opened at $8.01 on Thursday. European Wax Center has a 12 month low of $4.80 and a 12 month high of $16.07. The firm has a market capitalization of $480.44 million, a P/E ratio of 30.81, a P/E/G 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 company’s fifty day moving average price is $7.13 and its 200 day moving average price is $8.70.

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. 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%. As a group, sell-side analysts predict that European Wax Center will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On European Wax Center

A number of hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of European Wax Center during the 3rd quarter worth approximately $93,000. Royce & Associates LP acquired a new position in European Wax Center during the third quarter worth $108,000. Aigen Investment Management LP purchased a new position in European Wax Center in the third quarter worth $114,000. Dark Forest Capital Management LP purchased a new position in European Wax Center in the second quarter worth $127,000. Finally, Algert Global LLC acquired a new stake in European Wax Center in the second quarter valued at $135,000. Institutional investors and hedge funds 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.