European Wax Center (NASDAQ:EWCZ) Price Target Lowered to $8.00 at Truist Financial

European Wax Center (NASDAQ:EWCZ) had its price objective reduced by Truist Financial from $16.00 to $8.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 53.55% from the company’s previous close.

A number of other brokerages have also recently issued reports on EWCZ. Telsey Advisory Group restated an “outperform” rating and set a $16.00 price objective on shares of European Wax Center in a report on Wednesday. Robert W. Baird decreased their price objective on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday. Piper Sandler decreased their price objective on shares of European Wax Center from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Bank of America reduced their price target on shares of European Wax Center from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Finally, Citigroup lowered shares of European Wax Center from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $5.50 in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.93.

European Wax Center Stock Up 3.0 %

EWCZ opened at $5.21 on Thursday. European Wax Center has a twelve month low of $4.80 and a twelve month high of $18.28. The firm has a market cap of $316.92 million, a price-to-earnings ratio of 20.84, a PEG ratio of 1.74 and a beta of 1.17. The firm’s 50-day simple moving average is $9.55 and its 200-day simple moving average is $11.64. The company has a debt-to-equity ratio of 3.10, a quick ratio of 2.31 and a current ratio of 2.95.

European Wax Center (NASDAQ:EWCZ) last posted its earnings results on Wednesday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. European Wax Center had a net margin of 5.50% and a return on equity of 11.01%. The company had revenue of $51.87 million during the quarter, compared to analysts’ expectations of $51.88 million. Equities research analysts anticipate that European Wax Center will post 0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On European Wax Center

Several institutional investors and hedge funds have recently modified their holdings of EWCZ. SG Americas Securities LLC acquired a new position in shares of European Wax Center in the fourth quarter valued at about $129,000. Quest Partners LLC acquired a new stake in European Wax Center during the fourth quarter worth about $166,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in European Wax Center by 508.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock worth $369,000 after buying an additional 31,022 shares in the last quarter. Squarepoint Ops LLC grew its stake in European Wax Center by 194.3% during the second quarter. Squarepoint Ops LLC now owns 37,429 shares of the company’s stock worth $372,000 after buying an additional 24,712 shares in the last quarter. Finally, Diversified Trust Co grew its stake in European Wax Center by 41.0% during the first quarter. Diversified Trust Co now owns 31,540 shares of the company’s stock worth $409,000 after buying an additional 9,175 shares in the last quarter. 82.14% of the stock is currently owned by institutional investors and hedge funds.

European Wax Center Company Profile

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.