European Wax Center (NASDAQ:EWCZ) Price Target Cut to $16.00 (2024)

European Wax Center (NASDAQ:EWCZ – Free Report) had its price objective decreased by Truist Financial from $17.00 to $16.00 in a report issued on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Telsey Advisory Group reissued an outperform rating and issued a $18.00 price target on shares of European Wax Center in a report on Wednesday, May 15th. Bank of America lowered their target price on shares of European Wax Center from $19.00 to $16.00 and set a buy rating for the company in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $16.67.

Check Out Our Latest Research Report on European Wax Center

European Wax Center Trading Down 4.9 %

NASDAQ:EWCZ opened at $10.67 on Thursday. The stock has a market capitalization of $648.42 million, a price-to-earnings ratio of 42.68, a PEG ratio of 1.78 and a beta of 1.26. European Wax Center has a 52 week low of $10.67 and a 52 week 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 50 day moving average of $12.03 and a 200 day moving average of $13.57.

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

Hedge Funds Weigh In On European Wax Center

A number of institutional investors have recently bought and sold shares of EWCZ. Diversified Trust Co raised its holdings in shares of European Wax Center by 4.5% during 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 raised its position in European Wax Center by 2.4% during the third 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 in the last quarter. Quantbot Technologies LP acquired a new position in European Wax Center in the third quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 worth $281,000 after purchasing an additional 4,804 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of European Wax Center by 14.2% during the 1st quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock worth $643,000 after purchasing an additional 6,170 shares during the period. 82.14% of the stock is owned by hedge funds and other institutional investors.

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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