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

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

Other analysts have also recently issued research reports about the company. Piper Sandler cut European Wax Center from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $9.00 to $7.00 in a research report on Monday, January 6th. Morgan Stanley reaffirmed an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. One equities research 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.64.

European Wax Center Stock Down 12.9 %

Shares of NASDAQ EWCZ opened at $4.45 on Tuesday. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. The stock has a market capitalization of $253.40 million, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. The stock’s fifty day simple moving average is $6.52 and its two-hundred day simple moving average is $6.61. European Wax Center has a 12-month low of $2.72 and a 12-month high of $14.64.

Insider Transactions at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of the firm’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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.14% of the company’s stock.

Hedge Funds Weigh In On European Wax Center

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EWCZ. Creative Planning raised its stake in European Wax Center by 72.6% in the 3rd quarter. Creative Planning now owns 21,501 shares of the company’s stock worth $146,000 after acquiring an additional 9,044 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of European Wax Center during the 3rd quarter valued at about $114,000. Victory Capital Management Inc. raised its stake in shares of European Wax Center by 78.3% during the 3rd quarter. Victory Capital Management Inc. now owns 101,653 shares of the company’s stock valued at $691,000 after buying an additional 44,653 shares during the last quarter. Royce & Associates LP purchased a new position in shares of European Wax Center during the 3rd quarter valued at about $108,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of European Wax Center during the 3rd quarter valued at about $1,231,000. Hedge funds and other 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.