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

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

A number of other equities research analysts have also issued reports on EWCZ. Truist Financial increased their price target on European Wax Center from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Citigroup boosted their price target on shares of European Wax Center from $4.50 to $6.00 and gave the stock a “neutral” rating in a report on Monday, May 19th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $5.00 price objective on shares of European Wax Center in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, European Wax Center currently has an average rating of “Hold” and a consensus price target of $7.00.

European Wax Center Price Performance

Shares of EWCZ opened at $4.22 on Friday. The company has a market cap of $232.99 million, a P/E ratio of 21.10, a PEG ratio of 0.41 and a beta of 1.48. European Wax Center has a fifty-two week low of $2.72 and a fifty-two week high of $8.91. The company has a quick ratio of 2.18, a current ratio of 2.71 and a debt-to-equity ratio of 3.79. The firm’s 50 day moving average price is $5.41 and its 200 day moving average price is $5.13.

European Wax Center (NASDAQ:EWCZ) last posted its quarterly earnings data 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. The business had revenue of $51.43 million for the quarter, compared to analyst estimates of $49.70 million. European Wax Center had a return on equity of 23.65% and a net margin of 4.38%. On average, research analysts forecast that European Wax Center will post 0.26 earnings per share for the current fiscal year.

Institutional Trading of European Wax Center

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 European Wax Center in the second quarter valued at $68,000. CWM LLC grew its holdings in shares of European Wax Center by 1,275.9% during the second quarter. CWM LLC now owns 14,337 shares of the company’s stock worth $81,000 after purchasing an additional 13,295 shares during the last quarter. Two Sigma Securities LLC purchased a new position in shares of European Wax Center during the fourth quarter worth about $83,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of European Wax Center by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company’s stock worth $84,000 after purchasing an additional 1,582 shares in the last quarter. 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.