Telsey Advisory Group Reaffirms Outperform Rating for European Wax Center (NASDAQ:EWCZ)

Telsey Advisory Group reiterated their outperform rating on shares of European Wax Center (NASDAQ:EWCZ) in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a $8.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird cut their target price on shares of European Wax Center from $13.00 to $7.00 and set a neutral rating for the company in a research report on Thursday, August 15th. Truist Financial decreased their target price on shares of European Wax Center from $16.00 to $8.00 and set a buy rating on the stock in a research report on Thursday, August 15th. Piper Sandler reduced their price objective on shares of European Wax Center from $15.00 to $12.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. Morgan Stanley reduced their price objective on shares of European Wax Center from $14.00 to $5.00 and set an equal weight rating on the stock in a research report on Thursday, August 15th. Finally, Bank of America dropped their target price on shares of European Wax Center from $16.00 to $8.00 and set a buy rating on the stock in a research note on Wednesday, August 21st. 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, European Wax Center presently has a consensus rating of Moderate Buy and an average price target of $7.64.

European Wax Center Stock Performance

European Wax Center stock opened at $7.04 on Friday. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18. The firm has a 50-day moving average of $7.47 and a 200-day moving average of $10.13. The firm has a market cap of $428.24 million, a P/E ratio of 28.16, a P/E/G ratio of 2.29 and a beta of 1.13. European Wax Center has a 1-year low of $4.80 and a 1-year high of $18.04.

European Wax Center (NASDAQ:EWCZ) last announced its earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter, beating 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 business had revenue of $59.87 million during the quarter, compared to the consensus estimate of $61.27 million. Sell-side analysts expect that European Wax Center will post 0.24 EPS for the current year.

Institutional Investors Weigh In On European Wax Center

Hedge funds and other institutional investors have recently bought and sold shares of the company. Champlain Investment Partners LLC raised its holdings in shares of European Wax Center by 13.1% in the first quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock worth $48,617,000 after buying an additional 435,270 shares during the last quarter. Bamco Inc. NY grew its position in shares of European Wax Center by 8.8% in the first 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. Teachers Retirement System of The State of Kentucky boosted its position in European Wax Center by 34.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 82,017 shares of the company’s stock worth $1,115,000 after acquiring an additional 21,054 shares during the last quarter. Quest Partners LLC acquired a new position in European Wax Center during the fourth quarter worth about $166,000. Finally, Vanguard Group Inc. raised its stake in European Wax Center by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after purchasing an additional 29,918 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.