Shares of European Wax Center, Inc. (NASDAQ:EWCZ – Get Free Report) have received an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $7.00.
Several research analysts have weighed in on the stock. Morgan Stanley lowered their price objective on shares of European Wax Center from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. Robert W. Baird cut their price target on European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Wall Street Zen downgraded European Wax Center from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 14th. Jefferies Financial Group set a $15.00 target price on European Wax Center in a research note on Tuesday, March 11th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $5.00 target price on shares of European Wax Center in a research note on Thursday, May 15th.
View Our Latest Research Report on European Wax Center
European Wax Center Stock Up 2.5%
European Wax Center (NASDAQ:EWCZ – Get Free Report) last announced its earnings results 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 business had revenue of $51.43 million during the quarter, compared to analyst estimates of $49.70 million. European Wax Center had a return on equity of 23.65% and a net margin of 4.38%. As a group, sell-side analysts anticipate that European Wax Center will post 0.26 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its position in European Wax Center by 53.9% in the fourth quarter. Bank of America Corp DE now owns 591,788 shares of the company’s stock worth $3,947,000 after acquiring an additional 207,377 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of European Wax Center by 32.9% during the fourth quarter. Two Sigma Investments LP now owns 416,361 shares of the company’s stock valued at $2,777,000 after acquiring an additional 103,042 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of European Wax Center during the fourth quarter valued at about $376,000. Highland Peak Capital LLC bought a new position in shares of European Wax Center during the fourth quarter valued at about $2,745,000. Finally, Two Sigma Advisers LP raised its stake in shares of European Wax Center by 61.7% during the fourth quarter. Two Sigma Advisers LP now owns 135,200 shares of the company’s stock valued at $902,000 after acquiring an additional 51,600 shares during the last quarter. 82.14% of the stock is currently owned by hedge funds and other institutional investors.
European Wax Center Company Profile
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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