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 on Monday . The stock traded as low as $9.48 and last traded at $9.52, with a volume of 104349 shares traded. The stock had previously closed at $9.93.

Analyst Upgrades and Downgrades

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

European Wax Center Stock Performance

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

European Wax Center (NASDAQ:EWCZ) last announced its quarterly earnings data 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 business 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%. Analysts predict that European Wax Center, Inc. will post 0.3 EPS for the current year.

Hedge Funds Weigh In On European Wax Center

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EWCZ. Diversified Trust Co grew its holdings in European Wax Center by 4.5% in the fourth quarter. Diversified Trust Co now owns 22,365 shares of the company’s stock valued at $304,000 after purchasing an additional 970 shares during the period. Bessemer Group Inc. grew its holdings in European Wax Center by 14.2% in the first quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock valued at $643,000 after purchasing an additional 6,170 shares during the period. SG Americas Securities LLC purchased a new stake in European Wax Center in the fourth quarter valued at approximately $129,000. Quest Partners LLC purchased a new stake in European Wax Center in the fourth quarter valued at approximately $166,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in European Wax Center by 26.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 60,963 shares of the company’s stock worth $988,000 after buying an additional 12,620 shares during the period. Institutional investors and hedge funds own 82.14% of the company’s stock.

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.