European Wax Center (NASDAQ:EWCZ) Given New $5.00 Price Target at Robert W. Baird

European Wax Center (NASDAQ:EWCZ) had its target price lowered by analysts at Robert W. Baird from $7.00 to $5.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 12.36% from the stock’s current price.

EWCZ has been the subject of several other research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price target on shares of European Wax Center in a research note on Tuesday. Morgan Stanley restated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. Finally, Piper Sandler cut shares of European Wax Center from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $9.00 to $7.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $6.36.

European Wax Center Stock Performance

European Wax Center stock opened at $4.45 on Wednesday. European Wax Center has a fifty-two week low of $2.72 and a fifty-two week high of $14.64. The firm’s fifty day moving average price is $6.52 and its 200-day moving average price is $6.61. The stock has a market cap of $253.40 million, a P/E ratio of 19.35, 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 quick ratio of 2.42 and a current ratio of 3.17.

Insider Activity at European Wax Center

In other news, Director Nital P. Scott sold 4,344 shares of the stock in a transaction that occurred on 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 owns 29,262 shares of the company’s stock, valued at approximately $171,182.70. This represents a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. PharVision Advisers LLC purchased a new stake in European Wax Center during the 4th quarter valued at $403,000. Woodline Partners LP raised its stake in shares of European Wax Center by 92.7% during the fourth quarter. Woodline Partners LP now owns 643,755 shares of the company’s stock valued at $4,294,000 after acquiring an additional 309,673 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of European Wax Center by 61.7% during the fourth quarter. Two Sigma Advisers LP now owns 135,200 shares of the company’s stock worth $902,000 after purchasing an additional 51,600 shares during the period. Two Sigma Investments LP grew its stake in shares of European Wax Center by 32.9% in the fourth quarter. Two Sigma Investments LP now owns 416,361 shares of the company’s stock worth $2,777,000 after purchasing an additional 103,042 shares during the last quarter. Finally, State of Wyoming increased its holdings in European Wax Center by 135.9% during the 4th quarter. State of Wyoming now owns 52,700 shares of the company’s stock valued at $352,000 after purchasing an additional 30,361 shares during the period. 82.14% of the stock is owned by hedge funds and other institutional investors.

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.