European Wax Center’s (EWCZ) Underweight Rating Reiterated at Morgan Stanley

Morgan Stanley reaffirmed their underweight rating on shares of European Wax Center (NASDAQ:EWCZ) in a research report report published on Friday, Marketbeat reports. Morgan Stanley currently has a $5.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. Citigroup downgraded shares of European Wax Center from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $16.00 to $5.50 in a research report on Thursday, August 15th. Robert W. Baird dropped their target price on European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Truist Financial reduced their price objective on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Bank of America lowered their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $8.00 price objective on shares of European Wax Center in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, European Wax Center has a consensus rating of “Hold” and a consensus target price of $7.64.

European Wax Center Stock Down 4.4 %

Shares of European Wax Center stock opened at $5.89 on Friday. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18. European Wax Center has a 1 year low of $4.80 and a 1 year high of $16.07. The stock has a 50-day moving average price of $7.09 and a 200 day moving average price of $8.60. The company has a market cap of $353.28 million, a P/E ratio of 25.61, a P/E/G ratio of 2.00 and a beta of 1.11.

Institutional Trading of European Wax Center

A number of institutional investors and hedge funds have recently modified their holdings of EWCZ. Geode Capital Management LLC increased its holdings in European Wax Center by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock valued at $5,582,000 after buying an additional 30,804 shares during the period. Barclays PLC boosted its position in shares of European Wax Center by 365.7% during the 3rd quarter. Barclays PLC now owns 56,510 shares of the company’s stock valued at $385,000 after acquiring an additional 44,376 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in European Wax Center in the third quarter valued at about $451,000. XTX Topco Ltd acquired a new position in European Wax Center in the third quarter worth about $162,000. Finally, Atom Investors LP raised its position in European Wax Center by 57.4% in the third quarter. Atom Investors LP now owns 184,784 shares of the company’s stock worth $1,257,000 after purchasing an additional 67,371 shares in the last quarter. 82.14% of the stock is currently owned by institutional investors.

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.