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

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler upped their price objective on European Wax Center from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $18.00 price objective on shares of European Wax Center in a research report on Wednesday, March 6th.

European Wax Center Stock Up 4.1 %

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

European Wax Center (NASDAQ:EWCZ) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $56.33 million during the quarter, compared to analysts’ expectations of $53.98 million. European Wax Center had a return on equity of 6.69% and a net margin of 4.04%. As a group, sell-side analysts forecast that European Wax Center, Inc. will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of European Wax Center

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP bought a new position in shares of European Wax Center during the first quarter worth approximately $19,843,000. FMR LLC increased its stake in European Wax Center by 52.5% during the 1st quarter. FMR LLC now owns 1,873,318 shares of the company’s stock worth $35,593,000 after acquiring an additional 644,866 shares during the period. Bamco Inc. NY increased its stake in European Wax Center by 18.5% during the 3rd quarter. Bamco Inc. NY now owns 4,126,159 shares of the company’s stock worth $66,844,000 after acquiring an additional 642,726 shares during the period. BlackRock Inc. increased its stake in European Wax Center by 37.1% during the 2nd quarter. BlackRock Inc. now owns 2,363,538 shares of the company’s stock worth $44,033,000 after acquiring an additional 639,928 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in European Wax Center during the 1st quarter worth $11,748,000. Institutional investors own 82.14% of the company’s stock.

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.