Morgan Stanley Trims European Wax Center (NASDAQ:EWCZ) Target Price to $5.00

European Wax Center (NASDAQ:EWCZ) had its price objective cut by equities researchers at Morgan Stanley from $14.00 to $5.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 7.41% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Robert W. Baird decreased their price target on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday. Truist Financial reduced their price objective 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 Thursday. Piper Sandler dropped their target price on European Wax Center from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Bank of America dropped their target price on European Wax Center from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, May 16th. Finally, Citigroup downgraded European Wax Center from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $5.50 in a report on Thursday. Three investment 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, the company has an average rating of “Moderate Buy” and a consensus price target of $9.93.

European Wax Center Stock Up 6.7 %

EWCZ stock traded up $0.34 during mid-day trading on Thursday, hitting $5.40. 340,834 shares of the company were exchanged, compared to its average volume of 648,138. 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 market cap of $328.48 million, a P/E ratio of 20.84, a P/E/G ratio of 1.74 and a beta of 1.17. The firm’s 50 day simple moving average is $9.55 and its 200 day simple moving average is $11.64. European Wax Center has a 1-year low of $4.80 and a 1-year high of $18.28.

European Wax Center (NASDAQ:EWCZ) last announced its earnings results on Wednesday, May 15th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.04 by $0.06. The firm had revenue of $51.87 million for the quarter, compared to the consensus estimate of $51.88 million. European Wax Center had a net margin of 5.50% and a return on equity of 11.01%. On average, sell-side analysts predict that European Wax Center will post 0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Dark Forest Capital Management LP bought a new stake in shares of European Wax Center during the second quarter worth about $127,000. SG Americas Securities LLC bought a new stake in European Wax Center in the fourth quarter valued at approximately $129,000. Quest Partners LLC bought a new stake in European Wax Center in the fourth quarter valued at approximately $166,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in 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 acquiring an additional 31,022 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in 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 acquiring an additional 24,712 shares during the last quarter. 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.