Telsey Advisory Group Reiterates “Outperform” Rating for European Wax Center (NASDAQ:EWCZ)

European Wax Center (NASDAQ:EWCZ)‘s stock had its “outperform” rating reissued by investment analysts at Telsey Advisory Group in a research note issued on Friday, Benzinga reports. They currently have a $8.00 price objective on the stock. Telsey Advisory Group’s price target indicates a potential upside of 13.64% from the stock’s previous close.

EWCZ has been the topic of several other research reports. Truist Financial cut their target price on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Citigroup downgraded European Wax Center from a “buy” rating to a “neutral” rating and cut their target price for the company from $16.00 to $5.50 in a research report on Thursday, August 15th. Morgan Stanley cut their price objective on European Wax Center from $14.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Robert W. Baird cut their price objective on European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Finally, Piper Sandler cut their price objective on European Wax Center from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, European Wax Center has an average rating of “Moderate Buy” and a consensus price target of $7.64.

European Wax Center Stock Down 4.6 %

Shares of EWCZ opened at $7.04 on Friday. The stock has a market capitalization of $428.24 million, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 2.29 and a beta of 1.13. The company has a debt-to-equity ratio of 3.18, a current ratio of 3.49 and a quick ratio of 2.72. The business’s 50 day simple moving average is $7.47 and its 200-day simple moving average is $10.15. European Wax Center has a 1 year low of $4.80 and a 1 year high of $18.04.

European Wax Center (NASDAQ:EWCZ) last released its earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.05. The firm had revenue of $59.87 million for the quarter, compared to the consensus estimate of $61.27 million. European Wax Center had a return on equity of 13.84% and a net margin of 5.61%. As a group, equities analysts expect that European Wax Center will post 0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On European Wax Center

A number of hedge funds and other institutional investors have recently made changes to their positions in EWCZ. Champlain Investment Partners LLC grew its position in shares of European Wax Center by 13.1% during the 1st quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock worth $48,617,000 after buying an additional 435,270 shares in the last quarter. Marshall Wace LLP bought a new position in shares of European Wax Center during the 2nd quarter worth $3,274,000. Bamco Inc. NY grew its position in shares of European Wax Center by 8.8% during the 1st quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock worth $42,380,000 after buying an additional 265,000 shares in the last quarter. Millennium Management LLC grew its position in shares of European Wax Center by 44.0% during the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after buying an additional 164,688 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of European Wax Center by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company’s stock worth $31,564,000 after buying an additional 81,704 shares in the last quarter. Institutional investors 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.