Algert Global LLC Takes Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Algert Global LLC purchased a new stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,547 shares of the company’s stock, valued at approximately $135,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC boosted its position in shares of European Wax Center by 13.1% during the first quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock valued at $48,617,000 after buying an additional 435,270 shares during the period. Bamco Inc. NY boosted its stake 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 lifted its stake in European Wax Center by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company’s stock valued at $31,564,000 after buying an additional 81,704 shares in the last quarter. Wellington Management Group LLP lifted its stake in European Wax Center by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 2,279,389 shares of the company’s stock worth $30,977,000 after purchasing an additional 77,334 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in European Wax Center by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after purchasing an additional 29,918 shares in the last quarter. Hedge funds and other institutional investors own 82.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on EWCZ shares. Citigroup downgraded shares of European Wax Center from a “buy” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $5.50 in a report on Thursday, August 15th. Robert W. Baird dropped their price target on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $8.00 price target on shares of European Wax Center in a report on Friday, September 20th. Morgan Stanley reduced their price objective on shares of European Wax Center from $14.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Finally, Bank of America reduced their price objective 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, European Wax Center presently has an average rating of “Moderate Buy” and a consensus target price of $7.64.

European Wax Center Price Performance

European Wax Center stock opened at $6.78 on Friday. European Wax Center, Inc. has a 52-week low of $4.80 and a 52-week high of $16.76. The firm has a fifty day moving average of $6.82 and a 200-day moving average of $9.47. The firm has a market capitalization of $412.43 million, a P/E ratio of 27.12, a PEG ratio of 2.35 and a beta of 1.13. The company has a quick ratio of 2.72, a current ratio of 3.49 and a debt-to-equity ratio of 3.18.

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

European Wax Center Company Profile

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.