Telsey Advisory Group Reaffirms “Market Perform” Rating for European Wax Center (NASDAQ:EWCZ)

European Wax Center (NASDAQ:EWCZ)‘s stock had its “market perform” rating reissued by equities researchers at Telsey Advisory Group in a report issued on Tuesday,Benzinga reports. They presently have a $6.00 target price on the stock. Telsey Advisory Group’s target price indicates a potential downside of 4.91% from the stock’s current price.

A number of other analysts have also recently issued reports on EWCZ. Piper Sandler cut European Wax Center from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $9.00 to $7.00 in a research report on Monday, January 6th. Morgan Stanley reissued an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.64.

European Wax Center Price Performance

NASDAQ EWCZ opened at $6.31 on Tuesday. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. The firm has a market capitalization of $359.31 million, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 2.31 and a beta of 0.95. The company has a 50 day simple moving average of $6.31 and a 200-day simple moving average of $7.14. European Wax Center has a 52-week low of $4.80 and a 52-week high of $15.95.

Insider Buying and Selling at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of European Wax Center 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 sale, the director now directly owns 29,262 shares of the company’s stock, valued at $171,182.70. This trade represents a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.14% of the company’s stock.

Hedge Funds Weigh In On European Wax Center

Hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its holdings in European Wax Center by 4.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock valued at $22,675,000 after purchasing an additional 155,875 shares in the last quarter. FMR LLC grew its position in European Wax Center by 18.9% in the third quarter. FMR LLC now owns 2,697,742 shares of the company’s stock valued at $18,345,000 after acquiring an additional 428,280 shares during the period. Southpoint Capital Advisors LP raised its stake in European Wax Center by 5.3% during the third quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company’s stock worth $13,600,000 after acquiring an additional 100,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of European Wax Center by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock valued at $5,582,000 after purchasing an additional 30,804 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of European Wax Center by 44.0% in the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after purchasing an additional 164,688 shares during 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.