European Wax Center’s (EWCZ) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of European Wax Center (NASDAQ:EWCZ) in a research report sent to investors on Tuesday,Benzinga reports. Telsey Advisory Group currently has a $6.00 price objective on the stock.

Several other research analysts also recently commented on EWCZ. Piper Sandler downgraded shares of European Wax Center from an “overweight” rating to a “neutral” rating and cut their price target for the company from $9.00 to $7.00 in a report on Monday, January 6th. Morgan Stanley reissued an “underweight” rating and set a $5.00 price objective on shares of European Wax Center in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.64.

European Wax Center Trading Down 4.4 %

Shares of EWCZ opened at $6.35 on Tuesday. The business’s 50-day moving average price is $6.25 and its 200-day moving average price is $7.11. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. European Wax Center has a twelve month low of $4.80 and a twelve month high of $15.95. The stock has a market cap of $361.57 million, a PE ratio of 27.61, a P/E/G ratio of 2.17 and a beta of 0.95.

Insider Activity at European Wax Center

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total value of $25,412.40. Following the completion of the sale, the director now owns 29,262 shares of the company’s stock, valued at $171,182.70. This represents a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Dark Forest Capital Management LP bought a new position in shares of European Wax Center during the 2nd quarter valued at $127,000. Algert Global LLC bought a new position in shares of European Wax Center during the second quarter valued at about $135,000. SG Americas Securities LLC purchased a new position in shares of European Wax Center in the third quarter worth about $93,000. Royce & Associates LP bought a new stake in shares of European Wax Center in the 3rd quarter valued at about $108,000. Finally, Aigen Investment Management LP purchased a new stake in European Wax Center during the 3rd quarter valued at about $114,000. 82.14% of the stock is 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.