European Wax Center (NASDAQ:EWCZ) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen cut shares of European Wax Center (NASDAQ:EWCZ) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently weighed in on the stock. Truist Financial lifted their price objective on shares of European Wax Center from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley lowered their target price on shares of European Wax Center from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 12th. Jefferies Financial Group set a $15.00 price target on shares of European Wax Center in a research note on Tuesday, March 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $5.00 price objective on shares of European Wax Center in a report on Thursday, May 15th. Finally, Citigroup boosted their target price on European Wax Center from $4.50 to $6.00 and gave the stock a “neutral” rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, European Wax Center has an average rating of “Hold” and a consensus target price of $7.00.

European Wax Center Stock Performance

EWCZ opened at $5.78 on Friday. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. The business’s 50 day moving average is $4.43 and its 200-day moving average is $5.32. The stock has a market cap of $319.08 million, a PE ratio of 25.13, a price-to-earnings-growth ratio of 1.72 and a beta of 1.48. European Wax Center has a twelve month low of $2.72 and a twelve month high of $11.21.

European Wax Center (NASDAQ:EWCZ) last posted its earnings results on Wednesday, May 14th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.05 by $0.12. The firm had revenue of $51.43 million for the quarter, compared to analysts’ expectations of $49.70 million. European Wax Center had a return on equity of 16.51% and a net margin of 4.96%. On average, 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

Several hedge funds have recently made changes to their positions in EWCZ. Bank of America Corp DE boosted its holdings in European Wax Center by 53.9% during the fourth quarter. Bank of America Corp DE now owns 591,788 shares of the company’s stock worth $3,947,000 after buying an additional 207,377 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of European Wax Center by 32.9% during the 4th quarter. Two Sigma Investments LP now owns 416,361 shares of the company’s stock valued at $2,777,000 after acquiring an additional 103,042 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of European Wax Center during the 4th quarter worth $376,000. Highland Peak Capital LLC acquired a new position in shares of European Wax Center in the 4th quarter worth $2,745,000. Finally, Two Sigma Advisers LP raised its position in shares of European Wax Center by 61.7% during the fourth quarter. Two Sigma Advisers LP now owns 135,200 shares of the company’s stock worth $902,000 after purchasing an additional 51,600 shares during the period. Institutional investors and hedge funds own 82.14% of the company’s stock.

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.