Telsey Advisory Group Reiterates “Market Perform” Rating for European Wax Center (NASDAQ:EWCZ)

European Wax Center (NASDAQ:EWCZ)‘s stock had its “market perform” rating reiterated by Telsey Advisory Group in a research report issued to clients and investors on Tuesday, MarketBeat reports. They presently have a $6.00 price objective on the stock. Telsey Advisory Group’s price target points to a potential upside of 35.75% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Piper Sandler downgraded European Wax Center from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $9.00 to $7.00 in a report on Monday, January 6th. Morgan Stanley reiterated an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.21.

European Wax Center Stock Down 0.7 %

Shares of European Wax Center stock opened at $4.42 on Tuesday. European Wax Center has a 1 year low of $2.72 and a 1 year high of $13.64. The business has a 50-day moving average of $6.47 and a two-hundred day moving average of $6.59. The company has a market capitalization of $251.69 million, a P/E ratio of 19.22, a price-to-earnings-growth 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.

Insider Activity

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 transaction of $25,412.40. Following the transaction, the director now directly owns 29,262 shares of the company’s stock, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EWCZ. Two Sigma Securities LLC bought a new stake in European Wax Center in the 4th quarter valued at about $83,000. Price T Rowe Associates Inc. MD lifted its stake in European Wax Center by 14.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company’s stock valued at $84,000 after purchasing an additional 1,582 shares during the last quarter. Oxford Asset Management LLP purchased a new stake in shares of European Wax Center during the fourth quarter worth $88,000. SG Americas Securities LLC lifted its position in shares of European Wax Center by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock worth $103,000 after acquiring an additional 1,690 shares in the last quarter. Finally, Royce & Associates LP bought a new position in shares of European Wax Center in the third quarter worth $108,000. 82.14% of the stock is owned by institutional investors and hedge funds.

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.