European Wax Center, Inc. (NASDAQ:EWCZ) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings 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 twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $8.79.

Several equities research analysts have recently commented on EWCZ shares. Telsey Advisory Group restated an “outperform” rating and issued a $16.00 price objective on shares of European Wax Center in a research note on Wednesday, August 14th. 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. Piper Sandler reduced their target price on shares of European Wax Center from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Bank of America decreased their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Finally, Morgan Stanley dropped their price target on shares of 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.

Institutional Investors Weigh In On European Wax Center

A number of institutional investors have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP purchased a new position in shares of European Wax Center in the second quarter worth $127,000. Algert Global LLC purchased a new stake in European Wax Center in the 2nd quarter worth $135,000. Quest Partners LLC bought a new position in shares of European Wax Center during the 4th quarter valued at about $166,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of European Wax Center by 508.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock valued at $369,000 after purchasing an additional 31,022 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of European Wax Center by 194.3% during the second quarter. Squarepoint Ops LLC now owns 37,429 shares of the company’s stock valued at $372,000 after purchasing an additional 24,712 shares in the last quarter. 82.14% of the stock is owned by hedge funds and other institutional investors.

European Wax Center Trading Up 2.9 %

Shares of NASDAQ:EWCZ opened at $7.33 on Wednesday. The stock’s 50-day simple moving average is $7.62 and its two-hundred day simple moving average is $10.23. The stock has a market capitalization of $445.88 million, a price-to-earnings ratio of 29.32, a PEG ratio of 2.29 and a beta of 1.13. European Wax Center has a 52-week low of $4.80 and a 52-week high of $18.14. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The company had revenue of $59.87 million for the quarter, compared to the consensus estimate of $61.27 million. European Wax Center had a net margin of 5.61% and a return on equity of 13.84%. Analysts expect 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.