European Wax Center (NASDAQ:EWCZ) PT Lowered to $16.00 at Bank of America

European Wax Center (NASDAQ:EWCZFree Report) had its price target decreased by Bank of America from $19.00 to $16.00 in a research report released on Thursday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Separately, Telsey Advisory Group reaffirmed an outperform rating and issued a $18.00 price target on shares of European Wax Center in a report on Wednesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $16.67.

Check Out Our Latest Research Report on EWCZ

European Wax Center Price Performance

Shares of EWCZ stock opened at $10.67 on Thursday. European Wax Center has a twelve month low of $10.67 and a twelve month high of $20.00. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 3.10. The stock has a fifty day simple moving average of $12.03 and a two-hundred day simple moving average of $13.58. The stock 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.

European Wax Center (NASDAQ:EWCZGet Free Report) last released its quarterly earnings data on Wednesday, March 6th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $56.33 million during the quarter, compared to analyst estimates of $53.98 million. European Wax Center had a net margin of 5.50% and a return on equity of 11.01%. On average, analysts predict that European Wax Center will post 0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On European Wax Center

Institutional investors and hedge funds have recently made changes to their positions in the stock. Diversified Trust Co raised its stake in shares of European Wax Center by 4.5% in the fourth quarter. Diversified Trust Co now owns 22,365 shares of the company’s stock worth $304,000 after purchasing an additional 970 shares during the last quarter. Swiss National Bank lifted its stake in European Wax Center by 2.4% during the 3rd quarter. Swiss National Bank now owns 77,600 shares of the company’s stock valued at $1,257,000 after acquiring an additional 1,800 shares during the period. Quantbot Technologies LP purchased a new stake in shares of European Wax Center in the 3rd quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of European Wax Center by 38.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,368 shares of the company’s stock valued at $281,000 after acquiring an additional 4,804 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of European Wax Center by 14.2% in the first quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock worth $643,000 after acquiring an additional 6,170 shares during the period. 82.14% of the stock is currently owned by institutional investors and hedge funds.

About European Wax Center

(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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Analyst Recommendations for European Wax Center (NASDAQ:EWCZ)

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