European Wax Center (NASDAQ:EWCZ) Given New $16.00 Price Target at Bank of America (2024)

European Wax Center (NASDAQ:EWCZ – Free Report) had its target price lowered by Bank of America from $19.00 to $16.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Telsey Advisory Group reiterated an outperform rating and set a $18.00 price target on shares of European Wax Center in a research note on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $16.67.

View Our Latest Research Report on European Wax Center

European Wax Center Stock Performance

Shares of EWCZ opened at $10.67 on Thursday. The firm has a market capitalization of $648.42 million, a P/E ratio of 42.68, a PEG ratio of 1.78 and a beta of 1.26. The company has a debt-to-equity ratio of 3.10, a current ratio of 2.95 and a quick ratio of 1.98. European Wax Center has a one year low of $10.67 and a one year high of $20.00. The business has a fifty day moving average of $12.03 and a 200 day moving average of $13.57.

European Wax Center (NASDAQ:EWCZ – Get Free Report) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $56.33 million during the quarter, compared to the consensus estimate of $53.98 million. As a group, sell-side analysts anticipate that European Wax Center will post 0.3 EPS for the current year.

Institutional Investors Weigh In On European Wax Center

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of European Wax Center by 38.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,368 shares of the company’s stock worth $281,000 after purchasing an additional 4,804 shares in the last quarter. Arizona State Retirement System purchased a new position in shares of European Wax Center in the 3rd quarter worth $163,000. Quantbot Technologies LP purchased a new stake in shares of European Wax Center during the 3rd quarter valued at about $31,000. Swiss National Bank increased its stake in European Wax Center by 2.4% during the third quarter. Swiss National Bank now owns 77,600 shares of the company’s stock worth $1,257,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of European Wax Center by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,203,893 shares of the company’s stock worth $35,703,000 after purchasing an additional 52,893 shares during the period. Institutional investors own 82.14% of the company’s stock.

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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