European Wax Center, Inc. (NASDAQ:EWCZ) Receives $6.64 Average PT from Analysts

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have received an average rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $6.64.

A number of analysts have commented on EWCZ shares. Piper Sandler lowered European Wax Center from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $7.00 in a report on Monday, January 6th. Morgan Stanley reissued an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a report on Friday, November 15th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 target price on shares of European Wax Center in a report on Tuesday, January 14th.

Insider Buying and Selling

In related news, Director Nital P. Scott sold 4,344 shares of European Wax Center stock in a transaction 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 directly owns 29,262 shares in the company, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On European Wax Center

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in European Wax Center by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock valued at $103,000 after purchasing an additional 1,690 shares in the last quarter. Kanen Wealth Management LLC purchased a new position in European Wax Center during the fourth quarter valued at $637,000. Barclays PLC lifted its position in European Wax Center by 365.7% during the third quarter. Barclays PLC now owns 56,510 shares of the company’s stock valued at $385,000 after purchasing an additional 44,376 shares in the last quarter. Geode Capital Management LLC lifted its position in European Wax Center by 3.9% during the third quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock valued at $5,582,000 after purchasing an additional 30,804 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of European Wax Center in the third quarter valued at about $451,000. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

European Wax Center Stock Down 0.3 %

European Wax Center stock opened at $6.71 on Tuesday. The firm has a market cap of $382.07 million, a price-to-earnings ratio of 29.17, a PEG ratio of 1.75 and a beta of 0.95. The stock has a fifty day simple moving average of $6.10 and a two-hundred day simple moving average of $6.99. European Wax Center has a 12 month low of $4.80 and a 12 month high of $15.95. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81.

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.