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

European Wax Center, Inc. (NASDAQ:EWCZ) has been given an average recommendation of “Hold” by the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $7.64.

A number of brokerages have recently issued reports on EWCZ. Bank of America reduced their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Robert W. Baird reduced their price target on European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Citigroup downgraded European Wax Center from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $5.50 in a research report on Thursday, August 15th. Morgan Stanley restated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a report on Friday, November 15th. Finally, Truist Financial lowered their price target on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, August 15th.

European Wax Center Trading Up 1.3 %

NASDAQ EWCZ opened at $6.01 on Monday. The stock’s 50-day simple moving average is $6.87 and its two-hundred day simple moving average is $8.24. European Wax Center has a twelve month low of $4.80 and a twelve month high of $16.07. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The company has a market capitalization of $342.21 million, a price-to-earnings ratio of 26.13, a PEG ratio of 2.30 and a beta of 1.11.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its stake in shares of European Wax Center by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock worth $22,675,000 after purchasing an additional 155,875 shares in the last quarter. FMR LLC boosted its holdings in 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 buying an additional 428,280 shares during the period. Southpoint Capital Advisors LP increased its stake in European Wax Center by 5.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company’s stock worth $13,600,000 after buying an additional 100,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in European Wax Center by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock valued at $24,523,000 after acquiring an additional 29,918 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of European Wax Center by 3.9% in the third quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock valued at $5,582,000 after acquiring an additional 30,804 shares in the last quarter. 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.