European Wax Center, Inc. (NASDAQ:EWCZ) Given Average Recommendation of “Moderate Buy” by Brokerages

European Wax Center, Inc. (NASDAQ:EWCZ) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $7.64.

Several brokerages have issued reports on EWCZ. Telsey Advisory Group reiterated an “outperform” rating and issued a $8.00 price objective on shares of European Wax Center in a research report on Friday, September 20th. Robert W. Baird reduced 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 report on Thursday, August 15th. Citigroup cut shares of European Wax Center from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $5.50 in a research report on Thursday, August 15th. Morgan Stanley decreased their price target 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, Truist Financial dropped their price objective on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, August 15th.

European Wax Center Stock Performance

NASDAQ EWCZ opened at $8.60 on Thursday. European Wax Center has a twelve month low of $4.80 and a twelve month high of $16.07. The company has a quick ratio of 2.72, a current ratio of 3.49 and a debt-to-equity ratio of 3.18. The stock has a market cap of $515.83 million, a P/E ratio of 33.08, a PEG ratio of 2.71 and a beta of 1.11. The company’s 50-day simple moving average is $7.08 and its 200 day simple moving average is $8.73.

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

Institutional Trading of European Wax Center

Several institutional investors and hedge funds have recently made changes to their positions in EWCZ. SG Americas Securities LLC bought a new stake in European Wax Center in the third quarter valued at about $93,000. Royce & Associates LP acquired a new stake in European Wax Center in the 3rd quarter valued at $108,000. Aigen Investment Management LP acquired a new position in European Wax Center during the third quarter valued at approximately $114,000. Dark Forest Capital Management LP bought a new position in shares of European Wax Center in the second quarter valued at $127,000. Finally, Algert Global LLC bought a new stake in shares of European Wax Center in the 2nd quarter valued at about $135,000. 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.