European Wax Center, Inc. (NASDAQ:EWCZ) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $7.36.

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

European Wax Center Trading Down 4.6 %

NASDAQ:EWCZ opened at $6.36 on Friday. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. European Wax Center has a one year low of $4.80 and a one year high of $16.07. The company has a market cap of $362.16 million, a PE ratio of 27.65, a PEG ratio of 2.35 and a beta of 1.01. The firm has a 50-day moving average of $6.43 and a 200-day moving average of $7.39.

Insider Buying and Selling

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 shares were sold at an average price of $5.85, for a total value of $25,412.40. Following the sale, the director now owns 29,262 shares of the company’s stock, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On European Wax Center

Several large investors have recently modified their holdings of EWCZ. Massachusetts Financial Services Co. MA grew its holdings in European Wax Center by 4.9% during the third 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 period. FMR LLC grew its stake 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 worth $18,345,000 after acquiring an additional 428,280 shares during the period. Southpoint Capital Advisors LP grew its stake in shares of European Wax Center by 5.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company’s stock worth $13,600,000 after acquiring an additional 100,000 shares during the period. Geode Capital Management LLC increased its holdings in European Wax Center by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock worth $5,582,000 after acquiring an additional 30,804 shares during the last quarter. Finally, Millennium Management LLC raised its stake in 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 acquiring an additional 164,688 shares during the period. Hedge funds and other institutional investors own 82.14% of the company’s stock.

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.