Robert W. Baird Has Lowered Expectations for European Wax Center (NASDAQ:EWCZ) Stock Price

European Wax Center (NASDAQ:EWCZ) had its target price decreased by stock analysts at Robert W. Baird from $7.00 to $5.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 19.05% from the company’s previous close.

Several other equities research analysts also recently weighed in on EWCZ. Piper Sandler downgraded European Wax Center from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $9.00 to $7.00 in a report on Monday, January 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 price objective on shares of European Wax Center in a research report on Tuesday. Finally, Morgan Stanley reiterated an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.21.

European Wax Center Stock Performance

Shares of NASDAQ:EWCZ opened at $4.20 on Wednesday. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. European Wax Center has a 12 month low of $2.72 and a 12 month high of $13.31. The company has a market capitalization of $239.16 million, a price-to-earnings ratio of 18.26, a PEG ratio of 1.72 and a beta of 0.95. The firm’s 50-day moving average is $6.43 and its 200 day moving average is $6.57.

Insiders Place Their Bets

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction on 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 directly owns 29,262 shares in the company, valued at approximately $171,182.70. This represents 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 hyperlink. 6.14% of the stock is currently owned by company insiders.

Institutional Trading of European Wax Center

Several institutional investors and hedge funds have recently made changes to their positions in the company. D. E. Shaw & Co. Inc. grew its holdings in European Wax Center by 102.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,321,817 shares of the company’s stock worth $8,817,000 after acquiring an additional 667,723 shares in the last quarter. CenterBook Partners LP raised its holdings in shares of European Wax Center by 42.2% in the 4th quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock valued at $11,454,000 after purchasing an additional 509,991 shares in the last quarter. FMR LLC lifted its position in shares of European Wax Center by 18.9% in the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock worth $18,345,000 after purchasing an additional 428,280 shares during the period. Highland Peak Capital LLC bought a new position in shares of European Wax Center during the fourth quarter valued at approximately $2,745,000. Finally, Woodline Partners LP boosted its stake in shares of European Wax Center by 92.7% during the fourth quarter. Woodline Partners LP now owns 643,755 shares of the company’s stock valued at $4,294,000 after purchasing an additional 309,673 shares in the last quarter. 82.14% of the stock is currently owned by institutional investors.

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.