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

Telsey Advisory Group downgraded shares of European Wax Center (NASDAQ:EWCZ) from an outperform rating to a market perform rating in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have $6.00 target price on the stock, down from their prior target price of $8.00.

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

European Wax Center Stock Down 3.4 %

Shares of NASDAQ EWCZ opened at $5.06 on Thursday. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The stock has a market capitalization of $288.13 million, a PE ratio of 22.00, a P/E/G ratio of 2.35 and a beta of 1.01. The firm has a fifty day moving average of $6.59 and a 200-day moving average of $7.74. European Wax Center has a 52-week low of $4.80 and a 52-week high of $16.07.

Insider Activity at European Wax Center

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the firm’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 transaction 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. This trade represents a 12.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.14% of the company’s stock.

Institutional Trading of European Wax Center

A number of hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP boosted its stake in European Wax Center by 52.3% during the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock valued at $153,000 after acquiring an additional 7,709 shares during the last quarter. Creative Planning lifted its position in shares of European Wax Center by 72.6% during the third quarter. Creative Planning now owns 21,501 shares of the company’s stock worth $146,000 after purchasing an additional 9,044 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in European Wax Center by 15.5% in the second quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock worth $836,000 after purchasing an additional 11,300 shares in the last quarter. Victory Capital Management Inc. increased its holdings in European Wax Center by 25.7% in the second quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock valued at $566,000 after buying an additional 11,650 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in European Wax Center during the second quarter valued at approximately $127,000. 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.