European Wax Center (NASDAQ:EWCZ) Price Target Cut to $16.00

European Wax Center (NASDAQ:EWCZFree Report) had its target price cut by Citigroup from $19.00 to $16.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Bank of America decreased their price objective on European Wax Center from $19.00 to $16.00 and set a buy rating on the stock in a report on Thursday. Truist Financial decreased their price objective on European Wax Center from $17.00 to $16.00 and set a buy rating on the stock in a report on Thursday. Finally, Telsey Advisory Group reaffirmed an outperform rating and set a $18.00 price objective on shares of European Wax Center in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $16.67.

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European Wax Center Trading Down 4.9 %

Shares of EWCZ opened at $10.67 on Thursday. European Wax Center has a 12-month low of $10.67 and a 12-month high of $20.00. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $648.42 million, a price-to-earnings ratio of 42.68, a P/E/G ratio of 1.78 and a beta of 1.26. The stock’s 50-day moving average price is $12.03 and its 200 day moving average price is $13.58.

European Wax Center (NASDAQ:EWCZGet Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. European Wax Center had a return on equity of 11.01% and a net margin of 5.50%. The firm had revenue of $56.33 million for the quarter, compared to analyst estimates of $53.98 million. As a group, research analysts predict that European Wax Center will post 0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bamco Inc. NY boosted its holdings in shares of European Wax Center by 8.8% in the 1st quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock worth $42,380,000 after acquiring an additional 265,000 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of European Wax Center by 14.2% in the 1st quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock worth $643,000 after acquiring an additional 6,170 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in shares of European Wax Center by 13.1% in the 1st quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock worth $48,617,000 after acquiring an additional 435,270 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of European Wax Center by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after acquiring an additional 29,918 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its holdings in shares of European Wax Center by 2.0% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,210,372 shares of the company’s stock worth $15,711,000 after acquiring an additional 23,407 shares in the last quarter. 82.14% of the stock is owned by institutional investors and hedge funds.

European Wax Center Company Profile

(Get Free Report)

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.

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