Brokerages Set European Wax Center, Inc. (NASDAQ:EWCZ) Target Price at $7.00

Shares of European Wax Center, Inc. (NASDAQ:EWCZ - Get Free Report) have been given an average recommendation of "Hold" by the seven research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $7.00.

Several brokerages recently commented on EWCZ. Wall Street Zen raised shares of European Wax Center from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Truist Financial upped their target price on shares of European Wax Center from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Robert W. Baird dropped their target price on shares of European Wax Center from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $5.00 target price on shares of European Wax Center in a report on Thursday, May 15th. Finally, Morgan Stanley dropped their target price on shares of European Wax Center from $5.00 to $4.00 and set an "underweight" rating for the company in a report on Wednesday, March 12th.

European Wax Center Stock Performance

Shares of NASDAQ EWCZ traded up $0.02 during midday trading on Monday, reaching $5.23. 25,033 shares of the stock were exchanged, compared to its average volume of 719,670. The firm has a market cap of $288.45 million, a price-to-earnings ratio of 22.72, a PEG ratio of 1.72 and a beta of 1.17. The firm has a 50-day simple moving average of $3.95 and a two-hundred day simple moving average of $5.37. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. European Wax Center has a twelve month low of $2.72 and a twelve month high of $12.04.

European Wax Center (NASDAQ:EWCZ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.05 by $0.12. The company had revenue of $51.43 million during the quarter, compared to analyst estimates of $49.70 million. European Wax Center had a net margin of 4.96% and a return on equity of 16.51%. As a group, analysts anticipate that European Wax Center will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Highland Peak Capital LLC acquired a new position in European Wax Center in the fourth quarter valued at about $2,745,000. Interval Partners LP acquired a new stake in shares of European Wax Center during the fourth quarter worth about $1,234,000. BNP Paribas Financial Markets acquired a new stake in shares of European Wax Center during the fourth quarter worth about $376,000. CenterBook Partners LP lifted its position in shares of European Wax Center by 42.2% during the fourth quarter. CenterBook Partners LP now owns 1,717,249 shares of the company's stock worth $11,454,000 after purchasing an additional 509,991 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of European Wax Center by 102.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,321,817 shares of the company's stock worth $8,817,000 after purchasing an additional 667,723 shares in the last quarter. Institutional investors and hedge funds 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.