European Wax Center (NASDAQ:EWCZ) Earns “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of European Wax Center (NASDAQ:EWCZ) in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a $16.00 price target on the stock.

EWCZ has been the subject of a number of other research reports. Citigroup lowered their price target on European Wax Center from $19.00 to $16.00 and set a buy rating for the company in a research report on Thursday, May 16th. Bank of America dropped their target price on shares of European Wax Center from $19.00 to $16.00 and set a buy rating for the company in a research report on Thursday, May 16th. Piper Sandler reduced their price target on shares of European Wax Center from $15.00 to $12.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. Finally, Truist Financial dropped their price objective on shares of European Wax Center from $17.00 to $16.00 and set a buy rating for the company in a research report on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, European Wax Center currently has an average rating of Moderate Buy and a consensus price target of $9.93.

European Wax Center Price Performance

European Wax Center stock opened at $5.95 on Wednesday. European Wax Center has a 1 year low of $4.80 and a 1 year high of $18.28. The company has a debt-to-equity ratio of 3.10, a quick ratio of 2.31 and a current ratio of 2.95. The firm has a 50 day moving average price of $9.31 and a 200 day moving average price of $11.51. The company has a market cap of $361.94 million, a price-to-earnings ratio of 23.80, a PEG ratio of 1.74 and a beta of 1.17.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EWCZ. Champlain Investment Partners LLC increased its stake 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 worth $48,617,000 after buying an additional 435,270 shares during the period. Bamco Inc. NY increased its position in shares of European Wax Center by 8.8% during the first quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock worth $42,380,000 after acquiring an additional 265,000 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of European Wax Center by 34.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 82,017 shares of the company’s stock worth $1,115,000 after acquiring an additional 21,054 shares in the last quarter. Federated Hermes Inc. boosted its holdings in European Wax Center by 13.3% in the fourth quarter. Federated Hermes Inc. now owns 1,360,000 shares of the company’s stock valued at $18,482,000 after purchasing an additional 160,000 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in European Wax Center during the 4th quarter valued at approximately $166,000. 82.14% of the stock is 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.