Wall Street Zen Downgrades European Wax Center (NASDAQ:EWCZ) to Buy

by · The Cerbat Gem

European Wax Center (NASDAQ:EWCZ – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Other analysts have also issued research reports about the stock. Citigroup raised their price target on shares of European Wax Center from $4.50 to $6.00 and gave the company a “neutral” rating in a report on Monday, May 19th. Truist Financial lifted their target price on shares of European Wax Center from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $5.00 target price on shares of European Wax Center in a report on Thursday, May 15th. One research 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.00.

Check Out Our Latest Report on EWCZ

European Wax Center Stock Performance

Shares of European Wax Center stock opened at $4.22 on Friday. The company has a debt-to-equity ratio of 3.79, a current ratio of 2.71 and a quick ratio of 2.18. The firm has a market cap of $232.99 million, a P/E ratio of 21.10, a P/E/G ratio of 0.45 and a beta of 1.49. The firm has a 50 day simple moving average of $5.41 and a 200 day simple moving average of $5.15. European Wax Center has a fifty-two week low of $2.72 and a fifty-two week high of $8.91.

European Wax Center (NASDAQ:EWCZ – Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. The business had revenue of $51.43 million during the quarter, compared to analyst estimates of $49.70 million. European Wax Center had a net margin of 4.38% and a return on equity of 23.65%. Sell-side analysts predict that European Wax Center will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On European Wax Center

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC acquired a new position in shares of European Wax Center in the 2nd quarter valued at $60,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of European Wax Center in the 2nd quarter valued at $68,000. CWM LLC grew its holdings in shares of European Wax Center by 1,275.9% in the 2nd quarter. CWM LLC now owns 14,337 shares of the company’s stock valued at $81,000 after buying an additional 13,295 shares during the period. Two Sigma Securities LLC acquired a new position in shares of European Wax Center in the 4th quarter valued at $83,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of European Wax Center by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company’s stock valued at $84,000 after buying an additional 1,582 shares during the period. Institutional investors and hedge funds own 82.14% of the company’s stock.

About European Wax Center

(Get Free Report)

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.

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