European Wax Center's (EWCZ) Market Perform Rating Reaffirmed at Telsey Advisory Group

Key Points

• The Telsey Advisory Group has reiterated a "market perform" rating for European Wax Center (EWCZ) with a price target of $5.00, indicating a potential downside of 0.30% from its current trading price.
• European Wax Center's stock experienced a significant increase of 13.7%, reaching $5.02 on the day of the report, supported by trading volume of over 1 million shares.
• The company reported strong quarterly earnings, with earnings per share at $0.17, surpassing expectations and revenues of $51.43 million, which also exceeded estimates.

European Wax Center (NASDAQ:EWCZ - Get Free Report)'s stock had its "market perform" rating reiterated by stock analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They currently have a $5.00 price objective on the stock. Telsey Advisory Group's target price suggests a potential downside of 0.30% from the stock's current price.

Several other equities research analysts also recently weighed in on EWCZ. Citigroup raised their price target on European Wax Center from $4.50 to $6.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Wall Street Zen downgraded European Wax Center from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Truist Financial raised their price target on European Wax Center from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $7.00.

European Wax Center Stock Up 13.7%

Shares of European Wax Center stock traded up $0.61 during trading on Wednesday, hitting $5.02. 1,053,511 shares of the stock traded hands, compared to its average volume of 655,445. The firm has a market cap of $276.88 million, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 0.41 and a beta of 1.48. The company has a current ratio of 2.71, a quick ratio of 2.18 and a debt-to-equity ratio of 3.79. European Wax Center has a 52-week low of $2.72 and a 52-week high of $8.91. The stock's fifty day simple moving average is $5.26 and its 200 day simple moving average is $5.03.

European Wax Center (NASDAQ:EWCZ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.12. The business had revenue of $51.43 million during the quarter, compared to the consensus estimate of $49.70 million. European Wax Center had a return on equity of 23.65% and a net margin of 4.38%. On average, equities analysts predict that European Wax Center will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Virtus Advisers LLC purchased a new stake in shares of European Wax Center in the second quarter valued at approximately $30,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of European Wax Center during the second quarter worth approximately $60,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of European Wax Center during the second quarter worth approximately $68,000. Two Sigma Securities LLC purchased a new stake in shares of European Wax Center during the fourth quarter worth approximately $83,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of European Wax Center by 14.6% during the fourth 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. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.