Morgan Stanley Has Lowered Expectations for European Wax Center (NASDAQ:EWCZ) Stock Price

European Wax Center (NASDAQ:EWCZ) had its target price dropped by equities research analysts at Morgan Stanley from $5.00 to $4.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 10.11% from the company’s previous close.

Several other equities analysts have also recently issued reports on EWCZ. Piper Sandler cut European Wax Center from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $9.00 to $7.00 in a research note on Monday, January 6th. Telsey Advisory Group restated a “market perform” rating and issued a $6.00 price objective on shares of European Wax Center in a report on Tuesday. Finally, Robert W. Baird cut their target price on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.21.

European Wax Center Stock Performance

European Wax Center stock opened at $4.45 on Wednesday. European Wax Center has a 1-year low of $2.72 and a 1-year high of $14.64. The firm has a market cap of $253.40 million, a P/E ratio of 19.35, a P/E/G ratio of 1.72 and a beta of 0.95. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. The firm has a 50-day moving average of $6.52 and a 200-day moving average of $6.61.

Insider Transactions at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of the firm’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 transaction of $25,412.40. Following the completion of the transaction, the director now owns 29,262 shares of the company’s stock, valued at $171,182.70. This trade represents a 12.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.14% of the company’s stock.

Hedge Funds Weigh In On European Wax Center

Institutional investors and hedge funds have recently modified their holdings of the stock. PharVision Advisers LLC purchased a new stake in European Wax Center during the 4th quarter valued at about $403,000. Woodline Partners LP grew its holdings in shares of European Wax Center by 92.7% during the fourth quarter. Woodline Partners LP now owns 643,755 shares of the company’s stock valued at $4,294,000 after buying an additional 309,673 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of European Wax Center by 61.7% during the fourth quarter. Two Sigma Advisers LP now owns 135,200 shares of the company’s stock valued at $902,000 after acquiring an additional 51,600 shares in the last quarter. Two Sigma Investments LP increased its position in shares of European Wax Center by 32.9% during the fourth quarter. Two Sigma Investments LP now owns 416,361 shares of the company’s stock valued at $2,777,000 after acquiring an additional 103,042 shares in the last quarter. Finally, State of Wyoming raised its holdings in European Wax Center by 135.9% in the 4th quarter. State of Wyoming now owns 52,700 shares of the company’s stock worth $352,000 after acquiring an additional 30,361 shares during the last quarter. 82.14% of the stock is currently owned by 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.