European Wax Center (NASDAQ:EWCZ) Hits New 52-Week Low at $9.48

European Wax Center, Inc. (NASDAQ:EWCZ) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.48 and last traded at $9.52, with a volume of 104349 shares changing hands. The stock had previously closed at $9.93.

Analyst Ratings Changes

A number of brokerages have issued reports on EWCZ. Bank of America lowered their target price on European Wax Center from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Truist Financial cut their price target on European Wax Center from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Citigroup lowered their price objective on European Wax Center from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $16.00 price objective on shares of European Wax Center in a research note on Thursday, May 30th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.33.

European Wax Center Stock Down 3.7 %

The stock has a market capitalization of $581.53 million, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. The stock has a fifty day moving average price of $11.17 and a 200 day moving average price of $12.93. The company has a debt-to-equity ratio of 3.10, a current ratio of 2.95 and a quick ratio of 2.31.

European Wax Center (NASDAQ:EWCZ) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.04 by $0.06. European Wax Center had a return on equity of 11.01% and a net margin of 5.50%. The firm had revenue of $51.87 million for the quarter, compared to the consensus estimate of $51.88 million. On average, research analysts forecast that European Wax Center, Inc. will post 0.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Champlain Investment Partners LLC increased its holdings in European Wax Center by 13.1% during the 1st quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock valued at $48,617,000 after purchasing an additional 435,270 shares during the period. Bamco Inc. NY increased its holdings in European Wax Center by 8.8% during the 1st quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock valued at $42,380,000 after purchasing an additional 265,000 shares during the period. Wellington Management Group LLP increased its holdings in European Wax Center by 3.5% during the 4th quarter. Wellington Management Group LLP now owns 2,279,389 shares of the company’s stock valued at $30,977,000 after purchasing an additional 77,334 shares during the period. Vanguard Group Inc. increased its holdings in European Wax Center by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock valued at $24,523,000 after purchasing an additional 29,918 shares during the period. Finally, TimesSquare Capital Management LLC increased its holdings in European Wax Center by 1.9% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,517,950 shares of the company’s stock valued at $24,591,000 after purchasing an additional 28,425 shares during the period. Hedge funds and other 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.