European Wax Center, Inc. (NASDAQ:EWCZ) Given Average Recommendation of “Hold” by Brokerages

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $7.36.

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

European Wax Center Stock Performance

Shares of European Wax Center stock opened at $6.16 on Friday. The company’s fifty day moving average is $6.49 and its 200 day moving average is $7.57. European Wax Center has a twelve month low of $4.80 and a twelve month high of $16.07. The stock has a market cap of $350.77 million, a price-to-earnings ratio of 26.78, a P/E/G ratio of 2.35 and a beta of 1.01. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81.

Insiders Place Their Bets

In other news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction 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 directly owns 29,262 shares in the company, valued at $171,182.70. This represents a 12.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.14% of the stock is owned by corporate insiders.

Institutional Trading of European Wax Center

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in European Wax Center by 365.7% during the third quarter. Barclays PLC now owns 56,510 shares of the company’s stock worth $385,000 after buying an additional 44,376 shares during the period. Geode Capital Management LLC lifted its holdings in shares of European Wax Center by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock worth $5,582,000 after acquiring an additional 30,804 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of European Wax Center during the 3rd quarter worth about $451,000. XTX Topco Ltd bought a new position in European Wax Center during the 3rd quarter valued at about $162,000. Finally, Atom Investors LP raised its position in European Wax Center by 57.4% in the 3rd quarter. Atom Investors LP now owns 184,784 shares of the company’s stock worth $1,257,000 after purchasing an additional 67,371 shares during the period. Institutional investors own 82.14% of the company’s stock.

European Wax Center Company Profile

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.