Brokerages Set European Wax Center, Inc. (NASDAQ:EWCZ) Target Price at $7.36

European Wax Center, Inc. (NASDAQ:EWCZ) has received a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $7.36.

Several research firms have weighed in on EWCZ. Morgan Stanley reaffirmed an “underweight” rating and set a $5.00 price target on shares of European Wax Center in a research report on Friday, November 15th. Telsey Advisory Group downgraded shares of European Wax Center from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $8.00 to $6.00 in a report on Thursday, December 19th.

European Wax Center Trading Up 1.3 %

Shares of NASDAQ:EWCZ opened at $6.24 on Friday. The company’s 50-day moving average price is $6.47 and its two-hundred day moving average price is $7.50. European Wax Center has a one year low of $4.80 and a one year high of $16.07. 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 stock has a market capitalization of $355.32 million, a PE ratio of 27.13, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01.

Insider Activity

In related news, Director Nital P. Scott sold 4,344 shares of European Wax Center stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total value of $25,412.40. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 6.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On European Wax Center

Large investors have recently modified their holdings of the business. Algert Global LLC lifted its position in shares of European Wax Center by 720.4% during the 3rd quarter. Algert Global LLC now owns 111,137 shares of the company’s stock worth $756,000 after buying an additional 97,590 shares during the last quarter. Millennium Management LLC boosted its stake 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 valued at $5,352,000 after purchasing an additional 164,688 shares in the last quarter. FMR LLC grew its holdings in shares of European Wax Center by 18.9% during the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock valued at $18,345,000 after purchasing an additional 428,280 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of European Wax Center by 4.9% during the 3rd 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 during the last quarter. Finally, Walleye Capital LLC acquired a new position in European Wax Center during the 3rd quarter worth approximately $754,000. 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.