European Wax Center (NASDAQ:EWCZ) Earns Outperform Rating from Telsey Advisory Group

European Wax Center (NASDAQ:EWCZ)‘s stock had its “outperform” rating reiterated by investment analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $8.00 price objective on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 29.87% from the stock’s current price. Telsey Advisory Group also issued estimates for European Wax Center’s FY2025 earnings at $0.32 EPS.

Several other research analysts also recently commented on EWCZ. Truist Financial cut 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. Bank of America lowered their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Citigroup lowered shares of European Wax Center from a “buy” rating to a “neutral” rating and reduced their price target for the company from $16.00 to $5.50 in a research report on Thursday, August 15th. Morgan Stanley dropped their price objective on European Wax Center from $14.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Finally, Robert W. Baird decreased their target price on European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.64.

European Wax Center Price Performance

Shares of NASDAQ:EWCZ traded down $1.85 during midday trading on Thursday, hitting $6.16. The stock had a trading volume of 3,175,802 shares, compared to its average volume of 676,665. The company’s 50-day moving average price is $7.13 and its 200-day moving average price is $8.70. The company has a market capitalization of $369.48 million, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11. European Wax Center has a fifty-two week low of $4.80 and a fifty-two week high of $16.07. The company has a quick ratio of 2.72, a current ratio of 3.49 and a debt-to-equity ratio of 3.18.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC purchased a new stake in shares of European Wax Center in the 3rd quarter worth $754,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of European Wax Center by 37.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,204 shares of the company’s stock valued at $348,000 after buying an additional 14,086 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of European Wax Center by 52.3% during the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock valued at $153,000 after buying an additional 7,709 shares in the last quarter. FMR LLC raised its stake in European Wax Center by 18.9% in the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock valued at $18,345,000 after purchasing an additional 428,280 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in European Wax Center by 720.4% in the 3rd quarter. Algert Global LLC now owns 111,137 shares of the company’s stock valued at $756,000 after purchasing an additional 97,590 shares during the last quarter. 82.14% of the stock is currently owned by institutional investors.

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.