Telsey Advisory Group Reiterates Market Perform Rating for European Wax Center (NASDAQ:EWCZ)

European Wax Center (NASDAQ:EWCZ)‘s stock had its “market perform” rating reaffirmed by investment analysts at Telsey Advisory Group in a research note issued on Tuesday,Benzinga reports. They currently have a $6.00 target price on the stock. Telsey Advisory Group’s target price suggests a potential upside of 2.04% from the stock’s current price.

Several other research analysts have also recently commented on EWCZ. Piper Sandler cut European Wax Center from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $7.00 in a research report on Monday, January 6th. Morgan Stanley reissued an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.64.

European Wax Center Stock Down 1.8 %

EWCZ stock opened at $5.88 on Tuesday. The business’s 50-day simple moving average is $6.61 and its 200 day simple moving average is $6.63. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The company has a market cap of $334.82 million, a PE ratio of 25.57, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. European Wax Center has a twelve month low of $4.80 and a twelve month high of $15.50.

Insiders Place Their Bets

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total value of $25,412.40. Following the transaction, the director now owns 29,262 shares of the company’s stock, valued at approximately $171,182.70. This represents a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.14% of the company’s stock.

Institutional Investors Weigh In On European Wax Center

Hedge funds have recently bought and sold shares of the company. PharVision Advisers LLC bought a new stake in shares of European Wax Center in the 4th quarter valued at $403,000. Woodline Partners LP increased its holdings in shares of European Wax Center by 92.7% in the fourth quarter. Woodline Partners LP now owns 643,755 shares of the company’s stock worth $4,294,000 after acquiring an additional 309,673 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of European Wax Center by 61.7% during the fourth quarter. Two Sigma Advisers LP now owns 135,200 shares of the company’s stock worth $902,000 after purchasing an additional 51,600 shares during the period. Two Sigma Investments LP lifted its holdings in shares of European Wax Center by 32.9% during the 4th quarter. Two Sigma Investments LP now owns 416,361 shares of the company’s stock valued at $2,777,000 after purchasing an additional 103,042 shares in the last quarter. Finally, State of Wyoming grew its position in shares of European Wax Center by 135.9% in the 4th quarter. State of Wyoming now owns 52,700 shares of the company’s stock valued at $352,000 after purchasing an additional 30,361 shares during the period. 82.14% of the stock is currently owned by institutional investors and hedge funds.

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.