European Wax Center (NASDAQ:EWCZ) Earns Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of European Wax Center (NASDAQ:EWCZ) in a research note released on Thursday,Benzinga reports. The firm currently has a $5.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group set a $15.00 price target on European Wax Center in a research report on Tuesday, March 11th. Robert W. Baird reduced their target price on European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Morgan Stanley dropped their price target on European Wax Center from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th. Finally, Truist Financial boosted their price target on shares of European Wax Center from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.94.

European Wax Center Price Performance

NASDAQ EWCZ opened at $5.50 on Thursday. The company has a market cap of $304.40 million, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. European Wax Center has a 52 week low of $2.72 and a 52 week high of $12.04. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The firm’s 50-day simple moving average is $3.73 and its two-hundred day simple moving average is $5.53.

European Wax Center (NASDAQ:EWCZ) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. European Wax Center had a net margin of 4.96% and a return on equity of 16.51%. The company had revenue of $51.43 million for the quarter, compared to analysts’ expectations of $49.70 million. Research analysts predict that European Wax Center will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On European Wax Center

A number of large investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in shares of European Wax Center by 365.7% during the third quarter. Barclays PLC now owns 56,510 shares of the company’s stock worth $385,000 after purchasing an additional 44,376 shares during the period. Kanen Wealth Management LLC purchased a new stake in shares of European Wax Center in the 4th quarter worth about $637,000. SG Americas Securities LLC increased its stake in shares of European Wax Center by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock valued at $103,000 after purchasing an additional 1,690 shares in the last quarter. Olympiad Research LP raised its stake in European Wax Center by 116.8% during the fourth quarter. Olympiad Research LP now owns 50,000 shares of the company’s stock valued at $334,000 after buying an additional 26,939 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of European Wax Center by 41.3% in the fourth quarter. Victory Capital Management Inc. now owns 143,607 shares of the company’s stock worth $958,000 after acquiring an additional 41,954 shares during the last quarter. Hedge funds and other institutional investors own 82.14% of the company’s stock.

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.