European Wax Center (NASDAQ:EWCZ) Upgraded to “Strong-Buy” at Wall Street Zen

European Wax Center (NASDAQ:EWCZ) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other research firms also recently weighed in on EWCZ. Citigroup lifted 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. Telsey Advisory Group reissued a “market perform” rating and set a $5.00 target price on shares of European Wax Center in a report on Thursday, May 15th. Finally, Truist Financial lifted their target price on European Wax Center from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, European Wax Center presently has an average rating of “Hold” and a consensus price target of $7.00.

European Wax Center Stock Performance

Shares of NASDAQ EWCZ opened at $5.35 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 $295.37 million, a price-to-earnings ratio of 26.75, a P/E/G ratio of 0.61 and a beta of 1.50. The stock’s fifty day moving average price is $5.29 and its two-hundred day moving average price is $5.30. European Wax Center has a one year low of $2.72 and a one year high of $10.39.

European Wax Center (NASDAQ:EWCZ) last posted its earnings results on Wednesday, May 14th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.12. European Wax Center had a return on equity of 23.65% and a net margin of 4.38%. The company had revenue of $51.43 million during the quarter, compared to the consensus estimate of $49.70 million. On average, equities analysts forecast that European Wax Center will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new position in shares of European Wax Center in the second quarter worth $68,000. Voya Investment Management LLC boosted its stake in European Wax Center by 43.4% in the first quarter. Voya Investment Management LLC now owns 57,538 shares of the company’s stock valued at $227,000 after buying an additional 17,417 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in European Wax Center by 50.2% in the first quarter. Goldman Sachs Group Inc. now owns 505,183 shares of the company’s stock valued at $1,995,000 after buying an additional 168,900 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in European Wax Center in the first quarter valued at about $458,000. Finally, Interval Partners LP boosted its stake in European Wax Center by 25.9% in the first quarter. Interval Partners LP now owns 232,850 shares of the company’s stock valued at $920,000 after buying an additional 47,850 shares in the last quarter. Institutional investors 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.