European Wax Center, Inc. (NASDAQ:EWCZ) Given Average Rating of “Hold” by Brokerages

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $6.64.

Several analysts recently weighed in on EWCZ shares. Telsey Advisory Group reissued a “market perform” rating and set a $6.00 price target on shares of European Wax Center in a report on Tuesday, January 14th. Piper Sandler downgraded shares of European Wax Center from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $9.00 to $7.00 in a research note on Monday, January 6th. Finally, Morgan Stanley reissued an “underweight” rating and set a $5.00 price target on shares of European Wax Center in a report on Friday, November 15th.

European Wax Center Price Performance

NASDAQ:EWCZ opened at $6.71 on Tuesday. The company has a market cap of $382.07 million, a P/E ratio of 29.17, a P/E/G 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 one year low of $4.80 and a one year high of $15.95. The firm’s fifty day moving average price is $6.12 and its two-hundred day moving average price is $6.94.

Insider Transactions at European Wax Center

In other news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 29,262 shares of the company’s stock, valued at $171,182.70. This represents a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 6.14% of the company’s stock.

Institutional Investors Weigh In On European Wax Center

A number of institutional investors have recently added to or reduced their stakes in EWCZ. Victory Capital Management Inc. lifted its position in shares of European Wax Center by 25.7% in the 2nd quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock worth $566,000 after purchasing an additional 11,650 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of European Wax Center by 15.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock valued at $836,000 after acquiring an additional 11,300 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of European Wax Center during the 2nd quarter valued at $3,274,000. Squarepoint Ops LLC lifted its position in shares of European Wax Center by 194.3% during the 2nd quarter. Squarepoint Ops LLC now owns 37,429 shares of the company’s stock valued at $372,000 after acquiring an additional 24,712 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in European Wax Center in the second quarter valued at $127,000. 82.14% of the stock is owned by 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.