European Wax Center, Inc. (NASDAQ:EWCZ) Receives $7.36 Average PT from Brokerages

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $7.36.

Several research analysts have commented on the company. Morgan Stanley restated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research note on Friday, November 15th. Telsey Advisory Group lowered shares of European Wax Center from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $8.00 to $6.00 in a research report on Thursday, December 19th.

European Wax Center Trading Down 4.6 %

NASDAQ:EWCZ opened at $6.36 on Friday. The company has a market cap of $362.16 million, a P/E ratio of 27.65, a P/E/G ratio of 2.35 and a beta of 1.01. European Wax Center has a 1 year low of $4.80 and a 1 year high of $16.07. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. The stock’s fifty day moving average price is $6.43 and its two-hundred day moving average price is $7.39.

Insider Activity

In other news, Director Nital P. Scott sold 4,344 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were 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 trade represents a 12.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in European Wax Center by 508.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock worth $369,000 after purchasing an additional 31,022 shares during the last quarter. Victory Capital Management Inc. lifted its position in European Wax Center by 25.7% in the 2nd quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock worth $566,000 after buying an additional 11,650 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in European Wax Center by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company’s stock worth $31,564,000 after buying an additional 81,704 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in European Wax Center by 15.5% in the second quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock worth $836,000 after buying an additional 11,300 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in European Wax Center during the second quarter valued at approximately $3,274,000. Institutional investors own 82.14% of the company’s stock.

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.