Analysts Set European Wax Center, Inc. (NASDAQ:EWCZ) Price Target at $8.79

European Wax Center, Inc. (NASDAQ:EWCZ) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $7.64.

Several brokerages recently commented on EWCZ. Morgan Stanley dropped their price objective on shares of European Wax Center from $14.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Bank of America decreased their price target on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Telsey Advisory Group restated an “outperform” rating and issued a $8.00 price target on shares of European Wax Center in a research report on Friday, September 20th. Citigroup cut shares of European Wax Center from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $5.50 in a research report on Thursday, August 15th. Finally, Piper Sandler decreased their price target on shares of European Wax Center from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th.

Institutional Investors Weigh In On European Wax Center

A number of large investors have recently bought and sold shares of EWCZ. Dark Forest Capital Management LP bought a new position in shares of European Wax Center in the second quarter valued at $127,000. Algert Global LLC bought a new position in shares of European Wax Center in the second quarter valued at $135,000. Quest Partners LLC bought a new position in shares of European Wax Center in the fourth quarter valued at $166,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of European Wax Center by 508.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock valued at $369,000 after buying an additional 31,022 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of European Wax Center by 194.3% in the second quarter. Squarepoint Ops LLC now owns 37,429 shares of the company’s stock valued at $372,000 after buying an additional 24,712 shares in the last quarter. 82.14% of the stock is currently owned by institutional investors and hedge funds.

European Wax Center Stock Performance

Shares of NASDAQ:EWCZ opened at $7.04 on Wednesday. The company’s 50 day moving average price is $7.36 and its two-hundred day moving average price is $9.98. European Wax Center has a 12-month low of $4.80 and a 12-month high of $16.83. The firm has a market cap of $428.24 million, a PE ratio of 28.16, a PEG ratio of 2.29 and a beta of 1.13. The company has a quick ratio of 2.72, a current ratio of 3.49 and a debt-to-equity ratio of 3.18.

European Wax Center (NASDAQ:EWCZ) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. European Wax Center had a net margin of 5.61% and a return on equity of 13.84%. The company had revenue of $59.87 million during the quarter, compared to the consensus estimate of $61.27 million. Equities research analysts predict that European Wax Center will post 0.24 earnings per share for the current year.

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.