European Wax Center (NASDAQ:EWCZ) Downgraded to “Market Perform” Rating by Telsey Advisory Group

Telsey Advisory Group lowered shares of European Wax Center (NASDAQ:EWCZ) from an outperform rating to a market perform rating in a report issued on Thursday morning, MarketBeat Ratings reports. Telsey Advisory Group currently has $6.00 price target on the stock, down from their prior price target of $8.00.

Several other equities research analysts have also commented on EWCZ. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a research report on Friday, November 15th. Bank of America lowered their price target on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.36.

European Wax Center Stock Performance

NASDAQ EWCZ opened at $5.24 on Thursday. The business has a 50 day moving average price of $6.62 and a 200 day moving average price of $7.79. 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 company has a market capitalization of $298.38 million, a P/E ratio of 22.78, a PEG ratio of 2.35 and a beta of 1.01. European Wax Center has a 1-year low of $4.80 and a 1-year high of $16.07.

Insider Transactions at European Wax Center

In other European Wax Center 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 value of $25,412.40. Following the completion of the sale, the director now owns 29,262 shares in the company, valued at $171,182.70. The trade was a 12.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.14% of the company’s stock.

Hedge Funds Weigh In On European Wax Center

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its stake 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 period. Geode Capital Management LLC boosted its holdings in European Wax Center by 3.9% in the third quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock valued at $5,582,000 after acquiring an additional 30,804 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in European Wax Center during the third quarter valued at about $451,000. XTX Topco Ltd acquired a new stake in European Wax Center during the third quarter worth about $162,000. Finally, Atom Investors LP increased its stake in European Wax Center by 57.4% during the third quarter. Atom Investors LP now owns 184,784 shares of the company’s stock worth $1,257,000 after acquiring an additional 67,371 shares during the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.

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.