Morgan Stanley Reaffirms Underweight Rating for European Wax Center (NASDAQ:EWCZ)

Morgan Stanley reaffirmed their underweight rating on shares of European Wax Center (NASDAQ:EWCZ) in a report issued on Friday, Marketbeat reports. The firm currently has a $5.00 target price on the stock.

Several other research analysts also recently weighed in on EWCZ. Truist Financial lowered their target price on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Robert W. Baird dropped their price objective on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Bank of America reduced their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Citigroup lowered shares of European Wax Center from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $5.50 in a research note on Thursday, August 15th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of European Wax Center in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.64.

European Wax Center Price Performance

Shares of NASDAQ:EWCZ opened at $5.50 on Friday. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.72 and a current ratio of 3.49. European Wax Center has a one year low of $4.80 and a one year high of $16.07. The company has a 50-day simple moving average of $7.06 and a 200-day simple moving average of $8.56. The stock has a market capitalization of $329.89 million, a price-to-earnings ratio of 23.91, a PEG ratio of 2.00 and a beta of 1.11.

Institutional Trading of European Wax Center

A number of institutional investors have recently bought and sold shares of the company. Dark Forest Capital Management LP acquired a new position in shares of European Wax Center during the 2nd quarter worth $127,000. Algert Global LLC acquired a new position in European Wax Center during the second quarter worth about $135,000. SG Americas Securities LLC purchased a new stake in shares of European Wax Center in the third quarter valued at about $93,000. Royce & Associates LP acquired a new stake in shares of European Wax Center in the third quarter valued at approximately $108,000. Finally, Aigen Investment Management LP purchased a new position in shares of European Wax Center during the 3rd quarter worth approximately $114,000. 82.14% of the stock is currently owned by hedge funds and other 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.