European Wax Center’s (EWCZ) “Underweight” Rating Reaffirmed at Morgan Stanley

Morgan Stanley reissued their underweight rating on shares of European Wax Center (NASDAQ:EWCZ) in a research report report published on Friday morning, Marketbeat Ratings reports. The firm currently has a $5.00 target price on the stock.

EWCZ has been the subject of several other reports. Truist Financial dropped their price target 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. Robert W. Baird dropped their price objective on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Telsey Advisory Group restated an “outperform” rating and set a $8.00 target price on shares of European Wax Center in a report on Thursday. Citigroup lowered European Wax Center from a “buy” rating to a “neutral” rating and cut their price objective for the company from $16.00 to $5.50 in a research report on Thursday, August 15th. Finally, Bank of America reduced their price objective on 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, European Wax Center presently has an average rating of “Hold” and an average target price of $7.64.

European Wax Center Trading Down 4.2 %

EWCZ traded down $0.26 during midday trading on Friday, hitting $5.90. The company’s stock had a trading volume of 1,048,900 shares, compared to its average volume of 678,347. The firm has a market cap of $353.58 million, a P/E ratio of 22.67, a PEG ratio of 2.71 and a beta of 1.11. European Wax Center has a 52-week low of $4.80 and a 52-week high of $16.07. 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 firm has a 50-day moving average price of $7.09 and a two-hundred day moving average price of $8.65.

European Wax Center (NASDAQ:EWCZ) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The business had revenue of $59.87 million during 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%. On average, research analysts anticipate that European Wax Center will post 0.24 earnings per share for the current year.

Institutional Trading of European Wax Center

Large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in European Wax Center by 3.9% in the third quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock valued at $5,582,000 after purchasing an additional 30,804 shares during the last quarter. Barclays PLC raised its position in shares of European Wax Center by 365.7% in the 3rd quarter. Barclays PLC now owns 56,510 shares of the company’s stock valued at $385,000 after purchasing an additional 44,376 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of European Wax Center in the 3rd quarter valued at approximately $451,000. XTX Topco Ltd purchased a new position in shares of European Wax Center during the 3rd quarter valued at approximately $162,000. Finally, Atom Investors LP grew its position in shares of European Wax Center by 57.4% during the third quarter. Atom Investors LP now owns 184,784 shares of the company’s stock worth $1,257,000 after buying an additional 67,371 shares in the last quarter. 82.14% of the stock is currently owned by institutional investors and hedge funds.

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.