European Wax Center (NASDAQ:EWCZ) Hits New 52-Week Low at $11.85

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) hit a new 52-week low on Wednesday . The company traded as low as $11.85 and last traded at $12.00, with a volume of 15262 shares trading hands. The stock had previously closed at $12.49.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on EWCZ shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $18.00 target price on shares of European Wax Center in a research note on Wednesday, March 6th. Piper Sandler increased their target price on shares of European Wax Center from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th.

European Wax Center Trading Up 1.2 %

The stock has a market cap of $728.63 million, a price-to-earnings ratio of 70.53, a P/E/G ratio of 2.04 and a beta of 1.25. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.52 and a quick ratio of 1.98. The company’s fifty day moving average price is $13.72 and its 200-day moving average price is $14.33.

European Wax Center (NASDAQ:EWCZ) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. European Wax Center had a net margin of 4.04% and a return on equity of 6.69%. The business had revenue of $56.33 million for the quarter, compared to analyst estimates of $53.98 million. On average, research analysts expect that European Wax Center, Inc. will post 0.31 EPS for the current fiscal year.

Institutional Trading of European Wax Center

Large investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its position in European Wax Center by 15.2% in the first quarter. Swiss National Bank now owns 31,900 shares of the company’s stock valued at $943,000 after buying an additional 4,200 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of European Wax Center by 18.1% in the 1st quarter. JPMorgan Chase & Co. now owns 10,200 shares of the company’s stock valued at $270,000 after acquiring an additional 1,561 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of European Wax Center by 43.8% in the first quarter. Bank of New York Mellon Corp now owns 1,082,307 shares of the company’s stock worth $31,992,000 after acquiring an additional 329,614 shares during the period. MetLife Investment Management LLC raised its holdings in shares of European Wax Center by 57.0% during the first quarter. MetLife Investment Management LLC now owns 6,867 shares of the company’s stock worth $203,000 after purchasing an additional 2,493 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in European Wax Center by 50.4% during the first quarter. Rhumbline Advisers now owns 14,584 shares of the company’s stock valued at $431,000 after purchasing an additional 4,885 shares during the period. Hedge funds and other 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.