European Wax Center (NASDAQ:EWCZ) Stock Rating Lowered by Piper Sandler

European Wax Center (NASDAQ:EWCZ) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued on Monday,Briefing.com Automated Import reports. They presently have a $7.00 target price on the stock, down from their previous target price of $9.00. Piper Sandler’s target price points to a potential upside of 7.20% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. Telsey Advisory Group lowered European Wax Center from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $8.00 to $6.00 in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.64.

European Wax Center Stock Performance

Shares of EWCZ stock opened at $6.53 on Monday. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. European Wax Center has a 52 week low of $4.80 and a 52 week high of $16.07. The firm has a 50 day moving average of $6.43 and a 200-day moving average of $7.31. The company has a market cap of $371.84 million, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01.

Insider Transactions at European Wax Center

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 stock was sold at an average price of $5.85, for a total transaction of $25,412.40. Following the transaction, the director now owns 29,262 shares of the company’s stock, valued at $171,182.70. The trade was a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On European Wax Center

A number of institutional investors and hedge funds have recently bought and sold shares of EWCZ. SG Americas Securities LLC bought a new stake in shares of European Wax Center in the 3rd quarter worth $93,000. Royce & Associates LP purchased a new position in European Wax Center during the third quarter worth about $108,000. Aigen Investment Management LP bought a new stake in European Wax Center in the 3rd quarter worth about $114,000. Dark Forest Capital Management LP bought a new stake in European Wax Center in the 2nd quarter worth about $127,000. Finally, Algert Global LLC purchased a new stake in European Wax Center in the 2nd quarter valued at about $135,000. 82.14% of the stock is owned by hedge funds and other institutional investors.

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.