Robert W. Baird Lowers European Wax Center (NASDAQ:EWCZ) Price Target to $5.00

European Wax Center (NASDAQ:EWCZ) had its price target cut by stock analysts at Robert W. Baird from $7.00 to $5.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 19.05% from the stock’s current price.

Several other equities research analysts have also recently issued reports on EWCZ. Morgan Stanley reiterated an “underweight” rating and set a $5.00 price objective on shares of European Wax Center in a research report on Friday, November 15th. Piper Sandler cut shares of European Wax Center from an “overweight” rating to a “neutral” rating and cut their target price for the company from $9.00 to $7.00 in a research note on Monday, January 6th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 price target on shares of European Wax Center in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.21.

European Wax Center Stock Down 5.0 %

Shares of EWCZ opened at $4.20 on Wednesday. The business’s 50 day moving average is $6.43 and its 200 day moving average is $6.57. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. European Wax Center has a 12-month low of $2.72 and a 12-month high of $13.31. The company has a market capitalization of $239.16 million, a PE ratio of 18.26, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95.

Insider Buying and Selling

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the 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 completion of the transaction, the director now owns 29,262 shares in the company, valued at $171,182.70. This trade represents a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.14% of the stock is currently owned by company insiders.

Institutional Trading of European Wax Center

Large investors have recently made changes to their positions in the business. Two Sigma Securities LLC bought a new position in shares of European Wax Center in the 4th quarter valued at about $83,000. Price T Rowe Associates Inc. MD raised its position in European Wax Center by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company’s stock valued at $84,000 after purchasing an additional 1,582 shares during the period. Oxford Asset Management LLP purchased a new stake in European Wax Center during the fourth quarter valued at approximately $88,000. SG Americas Securities LLC lifted its stake in shares of European Wax Center by 12.3% in the 4th quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock valued at $103,000 after purchasing an additional 1,690 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of European Wax Center in the 4th quarter worth approximately $106,000. 82.14% of the stock is currently owned by institutional investors.

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.