Truist Financial Has Lowered Expectations for European Wax Center (NASDAQ:EWCZ) Stock Price

European Wax Center (NASDAQ:EWCZ) had its price target cut by equities researchers at Truist Financial from $6.00 to $5.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 39.08% from the stock’s previous close.

EWCZ has been the topic of a number of other reports. Jefferies Financial Group set a $15.00 price target on shares of European Wax Center in a research report on Tuesday, March 11th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price target on shares of European Wax Center in a research report on Tuesday, March 11th. Piper Sandler lowered European Wax Center from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $9.00 to $7.00 in a research report on Monday, January 6th. Robert W. Baird decreased their target price on European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Finally, Morgan Stanley lowered their target price on European Wax Center from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, European Wax Center has an average rating of “Hold” and an average price target of $6.94.

European Wax Center Trading Up 2.4 %

Shares of NASDAQ EWCZ traded up $0.09 during midday trading on Tuesday, hitting $3.60. The stock had a trading volume of 55,676 shares, compared to its average volume of 748,546. The company has a market capitalization of $198.97 million, a price-to-earnings ratio of 15.67, a PEG ratio of 1.72 and a beta of 1.15. European Wax Center has a 1-year low of $2.72 and a 1-year high of $12.89. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The company has a fifty day moving average price of $5.59 and a 200 day moving average price of $6.22.

Institutional Investors Weigh In On European Wax Center

A number of hedge funds have recently bought and sold shares of EWCZ. Barclays PLC raised its position in shares of European Wax Center by 2.7% in the 4th quarter. Barclays PLC now owns 58,064 shares of the company’s stock valued at $388,000 after purchasing an additional 1,554 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in European Wax Center by 14.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company’s stock valued at $84,000 after acquiring an additional 1,582 shares in the last quarter. SG Americas Securities LLC raised its holdings in European Wax Center by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock valued at $103,000 after acquiring an additional 1,690 shares in the last quarter. ExodusPoint Capital Management LP boosted its stake in European Wax Center by 7.5% during the 4th quarter. ExodusPoint Capital Management LP now owns 34,871 shares of the company’s stock valued at $233,000 after acquiring an additional 2,429 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in European Wax Center by 7.6% during the 4th quarter. American Century Companies Inc. now owns 50,616 shares of the company’s stock worth $338,000 after acquiring an additional 3,584 shares in the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.

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.