Morgan Stanley Reiterates Underweight Rating for European Wax Center (NASDAQ:EWCZ)

Morgan Stanley reaffirmed their underweight rating on shares of European Wax Center (NASDAQ:EWCZ) in a report issued on Friday morning, Marketbeat.com reports. Morgan Stanley currently has a $5.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. Bank of America reduced their price target on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Truist Financial decreased their target price on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Telsey Advisory Group reiterated an “outperform” rating and set a $8.00 price target on shares of European Wax Center in a research report on Thursday. Robert W. Baird dropped their target price 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, Citigroup cut 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 note on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.64.

European Wax Center Stock Down 4.2 %

NASDAQ EWCZ traded down $0.26 on Friday, hitting $5.90. 1,048,900 shares of the stock traded hands, compared to its average volume of 678,347. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18. The stock has a 50-day moving average of $7.09 and a 200 day moving average of $8.65. European Wax Center has a twelve month low of $4.80 and a twelve month high of $16.07. The company has a market capitalization of $353.58 million, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 2.71 and a beta of 1.11.

European Wax Center (NASDAQ:EWCZ) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.05. The firm had revenue of $59.87 million for the quarter, compared to analysts’ expectations 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, analysts expect that European Wax Center will post 0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Champlain Investment Partners LLC grew its position in European Wax Center by 13.1% in the 1st quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock valued at $48,617,000 after buying an additional 435,270 shares in the last quarter. Bamco Inc. NY boosted its stake 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 in the last quarter. Millennium Management LLC boosted its stake in European Wax Center by 44.0% during the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock valued at $5,352,000 after purchasing an additional 164,688 shares in the last quarter. Algert Global LLC acquired a new position in shares of European Wax Center during the 2nd quarter valued at $135,000. Finally, Vanguard Group Inc. raised its stake in shares of European Wax Center by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after buying an additional 29,918 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.