European Wax Center (NASDAQ:EWCZ) Cut to Market Perform at Telsey Advisory Group

Telsey Advisory Group downgraded shares of European Wax Center (NASDAQ:EWCZ) from an outperform rating to a market perform rating in a report released on Thursday, MarketBeat.com reports. The firm currently has $6.00 target price on the stock, down from their previous target price of $8.00.

Several other brokerages have also weighed in on EWCZ. Morgan Stanley restated an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. Bank of America lowered their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.36.

European Wax Center Stock Performance

NASDAQ:EWCZ opened at $5.06 on Thursday. The firm’s fifty day simple moving average is $6.59 and its 200-day simple moving average is $7.74. 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 stock has a market cap of $288.13 million, a PE ratio of 22.00, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. European Wax Center has a fifty-two week low of $4.80 and a fifty-two week high of $16.07.

Insider Transactions at European Wax Center

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the 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 sale, the director now owns 29,262 shares in the company, valued at approximately $171,182.70. This represents a 12.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.14% of the company’s stock.

Institutional Trading of European Wax Center

Several institutional investors and hedge funds have recently made changes to their positions in EWCZ. FMR LLC increased its position in 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 purchasing an additional 428,280 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of European Wax Center during the 2nd quarter worth about $3,274,000. Landscape Capital Management L.L.C. purchased a new stake in shares of European Wax Center during the third quarter worth about $1,231,000. Millennium Management LLC raised its position in shares of European Wax Center by 44.0% in the second quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock valued at $5,352,000 after buying an additional 164,688 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of 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 buying an additional 155,875 shares during the period. 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.