European Wax Center (NASDAQ:EWCZ) Stock Rating Lowered by Wall Street Zen

European Wax Center (NASDAQ:EWCZ - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other equities analysts have also recently commented on the stock. Truist Financial lifted their price objective on shares of European Wax Center from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Citigroup lifted their price objective on shares of European Wax Center from $4.50 to $6.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Jefferies Financial Group set a $15.00 target price on shares of European Wax Center in a research report on Tuesday, March 11th. Telsey Advisory Group reissued a "market perform" rating and issued a $5.00 target price on shares of European Wax Center in a research report on Thursday, May 15th. Finally, Morgan Stanley reduced 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 research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, European Wax Center has an average rating of "Hold" and an average price target of $7.00.

European Wax Center Stock Down 4.8%

Shares of NASDAQ:EWCZ traded down $0.29 during midday trading on Friday, hitting $5.74. The stock had a trading volume of 557,333 shares, compared to its average volume of 814,395. European Wax Center has a 12 month low of $2.72 and a 12 month high of $11.71. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The business's 50-day simple moving average is $4.38 and its 200-day simple moving average is $5.33. The company has a market cap of $316.88 million, a P/E ratio of 24.96, a PEG ratio of 1.72 and a beta of 1.48.

European Wax Center (NASDAQ:EWCZ - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.12. European Wax Center had a net margin of 4.96% and a return on equity of 16.51%. The business had revenue of $51.43 million during the quarter, compared to analysts' expectations of $49.70 million. On average, sell-side analysts forecast that European Wax Center will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On European Wax Center

A number of large investors have recently modified their holdings of EWCZ. Two Sigma Securities LLC bought a new position in shares of European Wax Center in the 4th quarter worth $83,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of European Wax Center by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company's stock worth $84,000 after purchasing an additional 1,582 shares in the last quarter. Oxford Asset Management LLP bought a new position in shares of European Wax Center in the 4th quarter worth $88,000. Royce & Associates LP lifted its holdings in shares of European Wax Center by 59.3% in the 1st quarter. Royce & Associates LP now owns 23,411 shares of the company's stock worth $92,000 after purchasing an additional 8,713 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of European Wax Center in the 4th quarter worth $106,000. 82.14% of the stock is currently owned by institutional investors.

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.