European Wax Center, Inc. (NASDAQ:EWCZ) Receives $6.64 Consensus Target Price from Brokerages

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have received an average rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $6.21.

Several brokerages have weighed in on EWCZ. Robert W. Baird lowered their price target on European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday. Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 target price on shares of European Wax Center in a research note on Tuesday. Piper Sandler lowered shares of European Wax Center from an “overweight” rating to a “neutral” rating and cut their price target for the company from $9.00 to $7.00 in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their price target on shares of European Wax Center from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Wednesday.

European Wax Center Stock Up 3.6 %

Shares of EWCZ stock opened at $4.35 on Wednesday. The stock’s fifty day moving average price is $6.38 and its 200 day moving average price is $6.56. European Wax Center has a 1-year low of $2.72 and a 1-year high of $13.31. The company has a market cap of $247.70 million, a price-to-earnings ratio of 18.91, 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 Buying and Selling

In other news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction 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 sale, the director now directly owns 29,262 shares of the company’s stock, valued at $171,182.70. This represents a 12.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Two Sigma Securities LLC purchased a new stake in European Wax Center in the fourth quarter valued at $83,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of European Wax Center by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company’s stock valued at $84,000 after buying an additional 1,582 shares during the period. Oxford Asset Management LLP acquired a new position in shares of European Wax Center in the 4th quarter valued at about $88,000. SG Americas Securities LLC boosted its stake in shares of European Wax Center by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock worth $103,000 after buying an additional 1,690 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in European Wax Center during the fourth quarter worth about $106,000. Hedge funds and other institutional investors 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.