European Wax Center’s (EWCZ) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of European Wax Center (NASDAQ:EWCZ) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $6.00 target price on the stock.

Several other equities analysts also recently weighed in on the stock. Piper Sandler downgraded shares of European Wax Center from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $9.00 to $7.00 in a report on Monday, January 6th. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.64.

European Wax Center Price Performance

Shares of NASDAQ:EWCZ opened at $5.66 on Tuesday. The firm has a market capitalization of $322.30 million, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. European Wax Center has a 12 month low of $4.80 and a 12 month high of $15.50. The business’s 50 day simple moving average is $6.60 and its 200-day simple moving average is $6.63.

Insider Buying and Selling at European Wax Center

In other news, Director Nital P. Scott sold 4,344 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total transaction of $25,412.40. Following the completion of the sale, the director now directly owns 29,262 shares in the company, valued at $171,182.70. This trade represents a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On European Wax Center

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its position in shares of European Wax Center by 365.7% during the 3rd quarter. Barclays PLC now owns 56,510 shares of the company’s stock valued at $385,000 after buying an additional 44,376 shares during the last quarter. Algert Global LLC raised its position in shares of European Wax Center by 720.4% during the 3rd quarter. Algert Global LLC now owns 111,137 shares of the company’s stock worth $756,000 after buying an additional 97,590 shares in the last quarter. FMR LLC boosted its stake in European Wax Center by 18.9% during the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock valued at $18,345,000 after purchasing an additional 428,280 shares in the last quarter. Kanen Wealth Management LLC bought a new position in European Wax Center during the fourth quarter valued at about $637,000. Finally, Walleye Capital LLC acquired a new position in European Wax Center during the third quarter worth about $754,000. Institutional investors 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.