Analysts Set European Wax Center, Inc. (NASDAQ:EWCZ) Price Target at $6.64

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have received a consensus recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $6.21.

EWCZ has been the subject of several analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 target price 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 lowered their target price for the stock from $9.00 to $7.00 in a research report on Monday, January 6th. Robert W. Baird lowered their price objective 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 price objective on European Wax Center from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Wednesday, March 12th.

European Wax Center Stock Up 3.6 %

Shares of NASDAQ:EWCZ opened at $4.35 on Wednesday. The firm has a market cap of $247.70 million, a P/E ratio of 18.91, a P/E/G ratio of 1.72 and a beta of 0.95. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. European Wax Center has a 12-month low of $2.72 and a 12-month high of $13.31. The business has a fifty day simple moving average of $6.38 and a 200 day simple moving average of $6.56.

Insider Transactions 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 value 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.14% of the company’s stock.

Institutional Trading of European Wax Center

Several large investors have recently made changes to their positions in EWCZ. Creative Planning grew its stake in shares of European Wax Center by 72.6% in the 3rd quarter. Creative Planning now owns 21,501 shares of the company’s stock valued at $146,000 after buying an additional 9,044 shares during the period. Aigen Investment Management LP acquired a new stake in shares of European Wax Center in the 3rd quarter valued at about $114,000. Victory Capital Management Inc. grew its stake in shares of European Wax Center by 78.3% in the 3rd quarter. Victory Capital Management Inc. now owns 101,653 shares of the company’s stock valued at $691,000 after buying an additional 44,653 shares during the period. Royce & Associates LP acquired a new stake in shares of European Wax Center in the 3rd quarter valued at about $108,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of European Wax Center in the 3rd quarter valued at about $1,231,000. 82.14% of the stock is currently owned by institutional investors and hedge funds.

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.