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

European Wax Center (NASDAQ:EWCZ) had its price objective dropped by analysts at Truist Financial from $16.00 to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 53.55% from the company’s previous close.

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

European Wax Center Trading Up 3.0 %

European Wax Center stock opened at $5.21 on Thursday. The company has a debt-to-equity ratio of 3.10, a current ratio of 2.95 and a quick ratio of 2.31. European Wax Center has a one year low of $4.80 and a one year high of $18.28. The stock has a market capitalization of $316.92 million, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.74 and a beta of 1.17. The business’s fifty day moving average is $9.55 and its 200 day moving average is $11.64.

European Wax Center (NASDAQ:EWCZ) last posted its 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. 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 the consensus estimate of $51.88 million. On average, sell-side analysts predict that European Wax Center will post 0.3 EPS for the current year.

Hedge Funds Weigh In On European Wax Center

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in European Wax Center during the 4th quarter valued at approximately $129,000. Quest Partners LLC purchased a new position in European Wax Center during the 4th quarter valued at approximately $166,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of European Wax Center by 508.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock worth $369,000 after purchasing an additional 31,022 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of European Wax Center by 194.3% in the 2nd quarter. Squarepoint Ops LLC now owns 37,429 shares of the company’s stock worth $372,000 after purchasing an additional 24,712 shares during the period. Finally, Diversified Trust Co boosted its holdings in shares of European Wax Center by 41.0% in the 1st quarter. Diversified Trust Co now owns 31,540 shares of the company’s stock worth $409,000 after purchasing an additional 9,175 shares during the period. Hedge funds and other institutional investors own 82.14% of the company’s stock.

About European Wax Center

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.