European Wax Center (NASDAQ:EWCZ) Given New $6.00 Price Target at Citigroup

European Wax Center (NASDAQ:EWCZ) had its price objective hoisted by Citigroup from $4.50 to $6.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 5.36% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Morgan Stanley dropped their price objective on European Wax Center from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. Jefferies Financial Group set a $15.00 price objective on European Wax Center in a report on Tuesday, March 11th. Telsey Advisory Group restated a “market perform” rating and issued a $5.00 price objective on shares of European Wax Center in a report on Thursday. Truist Financial increased their price objective on European Wax Center from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Robert W. Baird dropped their price objective on European Wax Center from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.00.

European Wax Center Stock Up 5.5%

Shares of EWCZ stock traded up $0.30 during trading on Monday, hitting $5.70. 412,432 shares of the company were exchanged, compared to its average volume of 794,305. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17. The firm has a market capitalization of $315.20 million, a price-to-earnings ratio of 24.76, a P/E/G ratio of 1.72 and a beta of 1.17. The business’s 50-day simple moving average is $3.75 and its 200 day simple moving average is $5.50. European Wax Center has a twelve month low of $2.72 and a twelve month high of $12.04.

European Wax Center (NASDAQ:EWCZ) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.17 EPS 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 analysts’ expectations of $49.70 million. European Wax Center had a net margin of 4.96% and a return on equity of 16.51%. As a group, analysts forecast that European Wax Center will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On European Wax Center

Institutional investors have recently bought and sold shares of the business. Two Sigma Securities LLC bought a new position in shares of European Wax Center during the fourth quarter valued at $83,000. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $84,000 after acquiring an additional 1,582 shares during the period. Oxford Asset Management LLP bought a new position in shares of European Wax Center in the fourth quarter valued at about $88,000. Royce & Associates LP raised its holdings in shares of European Wax Center by 59.3% in the first quarter. Royce & Associates LP now owns 23,411 shares of the company’s stock valued at $92,000 after buying an additional 8,713 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of European Wax Center by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock valued at $103,000 after buying an additional 1,690 shares during the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.

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.