European Wax Center (NASDAQ:EWCZ) Receives “Market Perform” Rating from Telsey Advisory Group

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

EWCZ has been the subject of several other research reports. Morgan Stanley reissued an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a research note on Friday, November 15th. Piper Sandler lowered European Wax Center from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $9.00 to $7.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, European Wax Center presently has a consensus rating of “Hold” and an average price target of $6.64.

European Wax Center Trading Down 1.6 %

Shares of EWCZ opened at $5.99 on Tuesday. The company’s fifty day simple moving average is $6.60 and its 200-day simple moving average is $6.64. The company has a market cap of $341.09 million, a P/E ratio of 26.04, 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. European Wax Center has a twelve month low of $4.80 and a twelve month high of $15.50.

Insider Buying and Selling

In related news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total transaction of $25,412.40. Following the transaction, the director now directly owns 29,262 shares of the company’s stock, valued at $171,182.70. This represents a 12.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 6.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its stake in shares of European Wax Center by 365.7% in the third quarter. Barclays PLC now owns 56,510 shares of the company’s stock worth $385,000 after acquiring an additional 44,376 shares during the period. Algert Global LLC lifted its stake in shares of European Wax Center by 720.4% in the third quarter. Algert Global LLC now owns 111,137 shares of the company’s stock worth $756,000 after buying an additional 97,590 shares in the last quarter. FMR LLC lifted its stake in shares of European Wax Center by 18.9% in the third quarter. FMR LLC now owns 2,697,742 shares of the company’s stock worth $18,345,000 after buying an additional 428,280 shares in the last quarter. Kanen Wealth Management LLC acquired a new stake in European Wax Center during the fourth quarter worth about $637,000. Finally, Walleye Capital LLC acquired a new stake in European Wax Center during the third quarter worth about $754,000. Institutional investors and hedge funds 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.