European Wax Center (NASDAQ:EWCZ) Rating Reiterated by Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of European Wax Center (NASDAQ:EWCZ) in a research report report published on Friday, Benzinga reports. They currently have a $8.00 price objective on the stock.

Other equities analysts have also issued research reports about the company. Piper Sandler decreased 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. 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. Truist Financial dropped their price target on European Wax Center from $16.00 to $8.00 and set a buy rating for the company in a research note on Thursday, August 15th. Robert W. Baird reduced their price objective on European Wax Center from $13.00 to $7.00 and set a neutral rating on the stock in a research report on Thursday, August 15th. Finally, Morgan Stanley lowered their target price on European Wax Center from $14.00 to $5.00 and set an equal weight rating for the company in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $7.64.

European Wax Center Stock Performance

NASDAQ:EWCZ opened at $6.91 on Friday. The stock has a 50 day simple moving average of $7.42 and a 200 day simple moving average of $10.03. The stock has a market cap of $420.34 million, a P/E ratio of 27.64, a PEG ratio of 2.29 and a beta of 1.13. European Wax Center has a 1-year low of $4.80 and a 1-year high of $16.83. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18.

European Wax Center (NASDAQ:EWCZ) last released its earnings results on Wednesday, August 14th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. The firm had revenue of $59.87 million for 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%. Research analysts anticipate that European Wax Center will post 0.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its stake in European Wax Center by 14.2% during the second quarter. Point72 Asset Management L.P. now owns 226,965 shares of the company’s stock worth $2,254,000 after purchasing an additional 28,165 shares during the period. Algert Global LLC purchased a new position in European Wax Center during the second quarter valued at approximately $135,000. Millennium Management LLC lifted its stake in European Wax Center by 44.0% in the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after purchasing an additional 164,688 shares in the last quarter. Mcmorgan & Co. LLC increased its position in shares of European Wax Center by 21.0% in the second quarter. Mcmorgan & Co. LLC now owns 250,387 shares of the company’s stock worth $2,486,000 after purchasing an additional 43,375 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in European Wax Center in the second quarter worth $127,000. 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.