European Wax Center, Inc. (NASDAQ:EWCZ) Receives Average Recommendation of “Hold” from Analysts

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have been given a consensus rating of “Hold” by the seven brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $6.64.

EWCZ has been the topic of several recent analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 target price on shares of European Wax Center in a research report on Tuesday. Morgan Stanley reissued an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a report on Friday, November 15th. Finally, Piper Sandler lowered European Wax Center from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $9.00 to $7.00 in a report on Monday, January 6th.

European Wax Center Trading Down 12.9 %

Shares of NASDAQ EWCZ opened at $4.45 on Wednesday. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. The stock has a market capitalization of $253.40 million, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. European Wax Center has a 1-year low of $2.72 and a 1-year high of $14.64. The business has a fifty day moving average price of $6.52 and a 200 day moving average price of $6.61.

Insiders Place Their Bets

In other news, Director Nital P. Scott sold 4,344 shares of the firm’s stock in a transaction that occurred 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 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 legal filing with the SEC, which is available through this link. 6.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On European Wax Center

Several hedge funds and other institutional investors have recently made changes to their positions in EWCZ. Creative Planning lifted its position in shares of European Wax Center by 72.6% in the third quarter. Creative Planning now owns 21,501 shares of the company’s stock valued at $146,000 after acquiring an additional 9,044 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of European Wax Center in the third quarter valued at approximately $114,000. Victory Capital Management Inc. lifted its position in shares of European Wax Center by 78.3% in the third quarter. Victory Capital Management Inc. now owns 101,653 shares of the company’s stock valued at $691,000 after acquiring an additional 44,653 shares in the last quarter. Royce & Associates LP purchased a new position in shares of European Wax Center in the third quarter valued at approximately $108,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of European Wax Center in the third quarter valued at approximately $1,231,000. Hedge funds and other institutional investors 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.