European Wax Center (NASDAQ:EWCZ) Reaches New 52-Week Low at $8.63

European Wax Center, Inc. (NASDAQ:EWCZ)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $8.63 and last traded at $8.76, with a volume of 83217 shares changing hands. The stock had previously closed at $8.90.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Truist Financial lowered their target price on shares of European Wax Center from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Telsey Advisory Group restated an “outperform” rating and issued a $16.00 target price on shares of European Wax Center in a report on Thursday, May 30th. Citigroup decreased 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 note on Thursday, May 16th. Piper Sandler dropped their price target on European Wax Center from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Finally, Bank of America reduced their price objective 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

European Wax Center Stock Up 1.5 %

The company’s 50-day simple moving average is $10.44 and its two-hundred day simple moving average is $12.39. The company has a debt-to-equity ratio of 3.10, a current ratio of 2.95 and a quick ratio of 2.31. The firm has a market capitalization of $537.13 million, a P/E ratio of 35.48, a P/E/G ratio of 1.74 and a beta of 1.18.

European Wax Center (NASDAQ:EWCZ) last announced its earnings results on Wednesday, May 15th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $51.87 million for the quarter, compared to analysts’ expectations of $51.88 million. As a group, research analysts expect 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 made changes to their positions in EWCZ. Champlain Investment Partners LLC raised 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 acquiring an additional 435,270 shares during the period. Bamco Inc. NY raised its position in shares of 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 lifted its stake in shares of 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 buying an additional 77,334 shares in the last quarter. Vanguard Group Inc. boosted its holdings in European Wax Center by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after buying an additional 29,918 shares during the period. Finally, Federated Hermes Inc. increased its stake in European Wax Center by 13.3% in the 4th quarter. Federated Hermes Inc. now owns 1,360,000 shares of the company’s stock worth $18,482,000 after buying an additional 160,000 shares in the last quarter. 82.14% of the stock is currently owned by institutional investors.

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.