Telsey Advisory Group Reiterates Market Perform Rating for European Wax Center (NASDAQ:EWCZ)

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

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 dropped their target price for the stock from $9.00 to $7.00 in a research report on Monday, January 6th. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.64.

European Wax Center Stock Down 0.3 %

European Wax Center stock opened at $6.29 on Tuesday. The stock has a 50 day moving average of $6.28 and a two-hundred day moving average of $7.11. European Wax Center has a twelve month low of $4.80 and a twelve month high of $15.95. The stock has a market capitalization of $358.17 million, a price-to-earnings ratio of 27.35, a PEG ratio of 2.31 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.

Insider Buying and Selling

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the business’s 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 directly owns 29,262 shares in the company, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake 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 valued at $566,000 after acquiring an additional 11,650 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of European Wax Center by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company’s stock valued at $31,564,000 after purchasing an additional 81,704 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of 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 valued at $836,000 after purchasing an additional 11,300 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of European Wax Center in the second quarter valued at approximately $3,274,000. Finally, Squarepoint Ops LLC increased its stake in shares of European Wax Center by 194.3% during the 2nd quarter. Squarepoint Ops LLC now owns 37,429 shares of the company’s stock worth $372,000 after purchasing an additional 24,712 shares in the last quarter. Hedge funds and other 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.