European Wax Center (NASDAQ:EWCZ) Stock Price Down 3.8%

European Wax Center, Inc. (NASDAQ:EWCZ) shares fell 3.8% during mid-day trading on Thursday . The company traded as low as $9.84 and last traded at $9.92. 199,164 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 528,537 shares. The stock had previously closed at $10.31.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EWCZ. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $16.00 target price on shares of European Wax Center in a report on Thursday, May 30th. Truist Financial decreased their price target on European Wax Center from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. Citigroup decreased their price target on European Wax Center from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. Finally, Bank of America decreased their price target on European Wax Center from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.33.

European Wax Center Trading Up 0.4 %

The company has a market cap of $604.04 million, a P/E ratio of 39.72, a price-to-earnings-growth ratio of 1.97 and a beta of 1.22. The firm has a 50-day moving average of $11.17 and a 200 day moving average of $12.94. The company has a current ratio of 2.95, a quick ratio of 2.31 and a debt-to-equity ratio of 3.10.

European Wax Center (NASDAQ:EWCZ) last posted its quarterly earnings data on Wednesday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.06. The company had revenue of $51.87 million during the quarter, compared to analyst estimates of $51.88 million. European Wax Center had a return on equity of 11.01% and a net margin of 5.50%. On average, analysts predict that European Wax Center, Inc. will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On European Wax Center

Large investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky lifted its stake in European Wax Center by 16.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 95,514 shares of the company’s stock worth $1,240,000 after purchasing an additional 13,497 shares during the last quarter. Bamco Inc. NY increased its holdings in European Wax Center by 8.8% during the 1st quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock valued at $42,380,000 after purchasing an additional 265,000 shares during the period. Bessemer Group Inc. increased its holdings in European Wax Center by 14.2% during the 1st quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock valued at $643,000 after purchasing an additional 6,170 shares during the period. Champlain Investment Partners LLC grew its holdings 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 acquiring an additional 435,270 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of European Wax Center by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after acquiring an additional 29,918 shares during the period. Institutional investors own 82.14% of the company’s stock.

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.