European Wax Center (NASDAQ:EWCZ) Shares Down 8.5%

European Wax Center Inc (NASDAQ:EWCZ)’s stock price fell 8.5% on Thursday . The stock traded as low as $25.60 and last traded at $25.63. 2,265 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 293,305 shares. The stock had previously closed at $28.00.

A number of brokerages recently weighed in on EWCZ. Robert W. Baird reissued a “buy” rating and set a $36.00 price objective on shares of European Wax Center in a report on Friday, October 15th. Zacks Investment Research lowered European Wax Center from a “buy” rating to a “hold” rating in a research report on Tuesday, December 21st. Finally, Telsey Advisory Group lifted their price target on European Wax Center from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, November 1st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, European Wax Center has an average rating of “Buy” and a consensus target price of $31.00.

The stock’s fifty day moving average price is $27.72. The company has a quick ratio of 1.60, a current ratio of 2.36 and a debt-to-equity ratio of 0.51.

European Wax Center (NASDAQ:EWCZ) last released its quarterly earnings results on Thursday, November 4th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.31. The company had revenue of $49.01 million for the quarter, compared to the consensus estimate of $48.40 million. Equities analysts anticipate that European Wax Center Inc will post 0.29 earnings per share for the current fiscal year.

In other European Wax Center news, Director Atlantic Genpar (Ew) General sold 3,297,922 shares of the company’s stock in a transaction that occurred on Monday, November 15th. The stock was sold at an average price of $26.25, for a total transaction of $86,570,452.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. purchased a new stake in shares of European Wax Center in the third quarter worth approximately $40,000. Royal Bank of Canada purchased a new stake in shares of European Wax Center in the third quarter worth approximately $77,000. Metropolitan Life Insurance Co NY bought a new position in European Wax Center in the third quarter worth approximately $93,000. New York State Common Retirement Fund bought a new position in European Wax Center in the third quarter worth approximately $101,000. Finally, SG Americas Securities LLC bought a new position in European Wax Center in the third quarter worth approximately $138,000. Hedge funds and other institutional investors own 48.86% of the company’s stock.

About European Wax Center (NASDAQ:EWCZ)

European Wax Center Inc is a personal care franchise brand. It offer wax services from certified Wax Specialists as well as full collection of proprietary products in the skincare, body and brow categories. European Wax Center Inc is based in PLANO, Texas.

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