European Wax Center (NASDAQ:EWCZ) Reaches New 52-Week Low at $8.63

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) reached a new 52-week low on Wednesday . The company traded as low as $8.63 and last traded at $8.76, with a volume of 83217 shares. The stock had previously closed at $8.90.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EWCZ. Piper Sandler dropped their price target on European Wax Center from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Citigroup dropped their price target on European Wax Center from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Truist Financial dropped their price target on European Wax Center from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $16.00 price target on shares of European Wax Center in a research note on Thursday, May 30th. Finally, Bank of America dropped their price target on European Wax Center from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.00.

European Wax Center Trading Down 2.0 %

The stock has a market capitalization of $530.44 million, a PE ratio of 35.60, a P/E/G ratio of 1.83 and a beta of 1.18. The firm has a 50 day moving average price of $10.55 and a 200 day moving average price of $12.44. The company has a quick ratio of 2.31, a current ratio of 2.95 and a debt-to-equity ratio of 3.10.

European Wax Center (NASDAQ:EWCZ) last issued its quarterly earnings data on Wednesday, May 15th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.04 by $0.06. The firm had revenue of $51.87 million during the quarter, compared to the consensus estimate of $51.88 million. European Wax Center had a return on equity of 11.01% and a net margin of 5.50%. Equities analysts expect that European Wax Center, Inc. will post 0.3 EPS for the current fiscal year.

Institutional Trading of European Wax Center

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. grew its holdings in shares of European Wax Center by 14.2% in the first quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock valued at $643,000 after acquiring an additional 6,170 shares in the last quarter. Diversified Trust Co grew its holdings in shares of European Wax Center by 41.0% in the first quarter. Diversified Trust Co now owns 31,540 shares of the company’s stock valued at $409,000 after acquiring an additional 9,175 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of European Wax Center in the fourth quarter valued at approximately $129,000. Quest Partners LLC bought a new position in shares of European Wax Center in the fourth quarter valued at approximately $166,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of European Wax Center by 16.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 95,514 shares of the company’s stock valued at $1,240,000 after acquiring an additional 13,497 shares in the last quarter. 82.14% of the stock is owned by hedge funds and other institutional investors.

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.