European Wax Center (NASDAQ:EWCZ) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of European Wax Center (NASDAQ:EWCZ) in a research note released on Wednesday morning,Benzinga reports. Telsey Advisory Group currently has a $5.00 price objective on the stock.

A number of other research firms have also weighed in on EWCZ. 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. Wall Street Zen lowered shares of European Wax Center from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Truist Financial raised their price objective 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, European Wax Center has a consensus rating of “Hold” and an average target price of $7.00.

European Wax Center Price Performance

EWCZ opened at $5.02 on Wednesday. The company has a fifty day simple moving average of $5.25 and a 200 day simple moving average of $5.03. The firm has a market cap of $277.15 million, a price-to-earnings ratio of 25.10, a PEG ratio of 0.43 and a beta of 1.48. European Wax Center has a twelve month low of $2.72 and a twelve month high of $8.91. The company has a current ratio of 2.71, a quick ratio of 2.18 and a debt-to-equity ratio of 3.79.

European Wax Center (NASDAQ:EWCZ) last released 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%. Equities research analysts expect that European Wax Center will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in shares of European Wax Center by 46.6% in the 4th quarter. Wells Fargo & Company MN now owns 15,836 shares of the company’s stock worth $106,000 after buying an additional 5,033 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of European Wax Center in the 4th quarter worth about $290,000. Barclays PLC lifted its position in shares of European Wax Center by 2.7% in the 4th quarter. Barclays PLC now owns 58,064 shares of the company’s stock worth $388,000 after buying an additional 1,554 shares during the last quarter. XTX Topco Ltd lifted its position in shares of European Wax Center by 66.2% in the 4th quarter. XTX Topco Ltd now owns 39,722 shares of the company’s stock worth $265,000 after buying an additional 15,827 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of European Wax Center by 65.1% in the 4th quarter. Marshall Wace LLP now owns 494,531 shares of the company’s stock worth $3,299,000 after buying an additional 194,931 shares during the last quarter. 82.14% of the stock is 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.