Telsey Advisory Group Reiterates Market Perform Rating for European Wax Center (NASDAQ:EWCZ)

European Wax Center (NASDAQ:EWCZ)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $5.00 price target on the stock. Telsey Advisory Group’s target price would indicate a potential downside of 7.41% from the company’s current price.

Several other research firms also recently weighed in on EWCZ. Jefferies Financial Group set a $15.00 target price on shares of European Wax Center in a research report on Tuesday, March 11th. Morgan Stanley dropped 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 report on Wednesday, March 12th. Robert W. Baird dropped their target price on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Finally, 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 research report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, European Wax Center has a consensus rating of “Hold” and an average price target of $6.94.

European Wax Center Stock Performance

Shares of EWCZ opened at $5.40 on Thursday. The firm’s 50 day moving average is $3.75 and its 200-day moving average is $5.52. The stock has a market capitalization of $298.87 million, a P/E ratio of 23.48, a P/E/G ratio of 1.72 and a beta of 1.17. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. European Wax Center has a 12-month low of $2.72 and a 12-month high of $12.04.

European Wax Center (NASDAQ:EWCZ) last released its earnings results on Wednesday, May 14th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.12. The business had revenue of $51.43 million for the quarter, compared to the consensus estimate of $49.70 million. European Wax Center had a net margin of 4.96% and a return on equity of 16.51%. Equities research analysts anticipate that European Wax Center will post 0.26 EPS for the current fiscal year.

Institutional Trading of European Wax Center

Institutional investors have recently made changes to their positions in the stock. Highland Peak Capital LLC acquired a new stake in shares of European Wax Center during the fourth quarter worth approximately $2,745,000. Barclays PLC boosted its holdings in shares of European Wax Center by 365.7% during the third quarter. Barclays PLC now owns 56,510 shares of the company’s stock worth $385,000 after purchasing an additional 44,376 shares during the period. Kanen Wealth Management LLC acquired a new stake in shares of European Wax Center during the fourth quarter worth approximately $637,000. CenterBook Partners LP boosted its holdings in shares of European Wax Center by 42.2% during the fourth quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock worth $11,454,000 after purchasing an additional 509,991 shares during the period. Finally, Kazazian Asset Management LLC acquired a new stake in European Wax Center in the fourth quarter valued at approximately $1,782,000. 82.14% of the stock is currently owned by institutional investors and hedge funds.

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.