Truist Financial Lowers European Wax Center (NASDAQ:EWCZ) Price Target to $16.00

European Wax Center (NASDAQ:EWCZ) had its price target cut by investment analysts at Truist Financial from $17.00 to $16.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 49.95% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Bank of America dropped their price target on shares of European Wax Center from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $18.00 target price on shares of European Wax Center in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.67.

European Wax Center Stock Down 4.9 %

EWCZ stock opened at $10.67 on Thursday. The company has a debt-to-equity ratio of 3.10, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a market cap of $648.42 million, a PE ratio of 42.68, a P/E/G ratio of 1.88 and a beta of 1.26. European Wax Center has a 12 month low of $10.67 and a 12 month high of $20.00. The firm has a 50 day simple moving average of $12.03 and a 200 day simple moving average of $13.59.

European Wax Center (NASDAQ:EWCZ) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. European Wax Center had a net margin of 5.50% and a return on equity of 11.01%. The business had revenue of $56.33 million during the quarter, compared to analyst estimates of $53.98 million. Equities research analysts forecast that European Wax Center will post 0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On European Wax Center

Several hedge funds have recently bought and sold shares of EWCZ. Quantbot Technologies LP acquired a new stake in shares of European Wax Center in the third quarter worth about $31,000. SG Americas Securities LLC bought a new position in shares of European Wax Center in the 4th quarter valued at approximately $129,000. Arizona State Retirement System acquired a new stake in European Wax Center in the 3rd quarter worth approximately $163,000. Quest Partners LLC bought a new stake in European Wax Center during the fourth quarter worth approximately $166,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in European Wax Center by 38.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,368 shares of the company’s stock valued at $281,000 after purchasing an additional 4,804 shares during the last quarter. 82.14% of the stock is owned by institutional investors and hedge funds.

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.