European Wax Center (NASDAQ:EWCZ) Stock Rating Upgraded by Wall Street Zen

European Wax Center (NASDAQ:EWCZ) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

Other research analysts have also recently issued research reports about the company. Citigroup raised their price target on European Wax Center from $4.50 to $6.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. Robert W. Baird dropped their price target on European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Jefferies Financial Group set a $15.00 price target on European Wax Center in a research report on Tuesday, March 11th. Telsey Advisory Group restated a “market perform” rating and issued a $5.00 price target on shares of European Wax Center in a research report on Thursday, May 15th. Finally, Truist Financial raised their price target on European Wax Center from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.00.

European Wax Center Trading Down 2.5%

NASDAQ:EWCZ opened at $5.15 on Thursday. The stock has a fifty day moving average price of $3.86 and a two-hundred day moving average price of $5.45. The stock has a market capitalization of $285.03 million, a price-to-earnings ratio of 22.39, a PEG ratio of 1.72 and a beta of 1.17. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17. European Wax Center has a 1 year low of $2.72 and a 1 year high of $12.04.

European Wax Center (NASDAQ:EWCZ) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.12. The firm had revenue of $51.43 million during the quarter, compared to analysts’ expectations of $49.70 million. European Wax Center had a return on equity of 16.51% and a net margin of 4.96%. As a group, sell-side analysts anticipate that European Wax Center will post 0.26 earnings per share for the current fiscal year.

Institutional Trading of European Wax Center

A number of large investors have recently made changes to their positions in the stock. Ararat Capital Management LP boosted its stake in shares of European Wax Center by 8.1% during the fourth quarter. Ararat Capital Management LP now owns 2,418,693 shares of the company’s stock valued at $16,133,000 after acquiring an additional 181,449 shares during the last quarter. CenterBook Partners LP boosted its stake in European Wax Center by 42.2% in the 4th quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock worth $11,454,000 after buying an additional 509,991 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in European Wax Center by 102.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,321,817 shares of the company’s stock worth $8,817,000 after buying an additional 667,723 shares during the last quarter. Woodline Partners LP boosted its stake in European Wax Center by 92.7% in the 4th quarter. Woodline Partners LP now owns 643,755 shares of the company’s stock worth $4,294,000 after buying an additional 309,673 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in European Wax Center by 53.9% in the 4th quarter. Bank of America Corp DE now owns 591,788 shares of the company’s stock worth $3,947,000 after buying an additional 207,377 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.