Morgan Stanley Issues Pessimistic Forecast for European Wax Center (NASDAQ:EWCZ) Stock Price

European Wax Center (NASDAQ:EWCZ) had its target price reduced by equities research analysts at Morgan Stanley from $5.00 to $4.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 4.76% from the stock’s current price.

Several other equities analysts have also recently commented on EWCZ. Piper Sandler cut shares of European Wax Center from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $9.00 to $7.00 in a research note on Monday, January 6th. Robert W. Baird reduced their price target on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 price target on shares of European Wax Center in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.21.

European Wax Center Stock Down 5.0 %

EWCZ stock opened at $4.20 on Wednesday. The stock has a 50-day simple moving average of $6.43 and a two-hundred day simple moving average of $6.57. European Wax Center has a twelve month low of $2.72 and a twelve month high of $13.31. The firm has a market capitalization of $239.16 million, a PE ratio of 18.26, a PEG ratio of 1.72 and a beta of 0.95. 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 related news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.14% of the company’s stock.

Institutional Investors Weigh In On European Wax Center

A number of large investors have recently added to or reduced their stakes in EWCZ. Two Sigma Securities LLC bought a new position in shares of European Wax Center during the 4th quarter valued at about $83,000. Price T Rowe Associates Inc. MD boosted its stake in European Wax Center by 14.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company’s stock worth $84,000 after buying an additional 1,582 shares in the last quarter. Oxford Asset Management LLP bought a new position in European Wax Center during the fourth quarter valued at approximately $88,000. SG Americas Securities LLC raised its stake in shares of European Wax Center by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock worth $103,000 after acquiring an additional 1,690 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of European Wax Center during the fourth quarter worth approximately $106,000. 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.