European Wax Center (NASDAQ:EWCZ) Trading 4.6% Higher

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) traded up 4.6% during mid-day trading on Thursday . The company traded as high as $11.39 and last traded at $11.36. 165,293 shares were traded during trading, a decline of 69% from the average session volume of 535,801 shares. The stock had previously closed at $10.86.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Piper Sandler boosted their target price on shares of European Wax Center from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $18.00 price target on shares of European Wax Center in a report on Wednesday, March 6th.

European Wax Center Price Performance

The firm’s 50-day moving average is $13.43 and its 200-day moving average is $14.18. The company has a market capitalization of $686.70 million, a PE ratio of 63.88, a price-to-earnings-growth ratio of 1.86 and a beta of 1.25. The company has a quick ratio of 1.98, a current ratio of 2.52 and a debt-to-equity ratio of 3.19.

European Wax Center (NASDAQ:EWCZ) last announced its earnings results on Wednesday, March 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. European Wax Center had a net margin of 4.04% and a return on equity of 6.69%. The company had revenue of $56.33 million during the quarter, compared to analyst estimates of $53.98 million. Equities analysts predict that European Wax Center, Inc. will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Diversified Trust Co grew its position in European Wax Center by 41.0% in the first quarter. Diversified Trust Co now owns 31,540 shares of the company’s stock worth $409,000 after acquiring an additional 9,175 shares in the last quarter. Vanguard Group Inc. grew its position in European Wax Center by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 1,859,406 shares of the company’s stock worth $25,269,000 after acquiring an additional 64,123 shares in the last quarter. Wellington Management Group LLP boosted its position in European Wax Center by 3.5% during the fourth quarter. Wellington Management Group LLP now owns 2,279,389 shares of the company’s stock valued at $30,977,000 after buying an additional 77,334 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in European Wax Center by 34.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 82,017 shares of the company’s stock valued at $1,115,000 after buying an additional 21,054 shares during the period. Finally, Barclays PLC boosted its position in European Wax Center by 197.9% during the fourth quarter. Barclays PLC now owns 53,915 shares of the company’s stock valued at $733,000 after buying an additional 35,816 shares during the period. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

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.