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

European Wax Center (NASDAQ:EWCZ)‘s stock had its “market perform” rating reissued by Telsey Advisory Group in a research report issued on Tuesday,Benzinga reports. They currently have a $6.00 target price on the stock. Telsey Advisory Group’s price objective suggests a potential downside of 4.91% from the company’s current price.

Other research analysts have also issued reports about the company. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a research report on Friday, November 15th. Piper Sandler lowered shares of European Wax Center from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $9.00 to $7.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.64.

European Wax Center Trading Up 2.4 %

Shares of NASDAQ EWCZ opened at $6.31 on Tuesday. European Wax Center has a 1-year low of $4.80 and a 1-year high of $15.95. 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 company has a 50-day moving average of $6.31 and a two-hundred day moving average of $7.14. The company has a market cap of $359.31 million, a PE ratio of 27.43, a P/E/G ratio of 2.31 and a beta of 0.95.

Insider Buying and Selling at European Wax Center

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of European Wax Center 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 sale, the director now owns 29,262 shares of the company’s stock, valued at $171,182.70. This trade represents a 12.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 6.14% of the company’s stock.

Institutional Investors Weigh In On European Wax Center

A number of hedge funds and other institutional investors have recently bought and sold shares of EWCZ. Quantbot Technologies LP grew its stake in shares of European Wax Center by 52.3% during the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock worth $153,000 after acquiring an additional 7,709 shares in the last quarter. Creative Planning grew its stake in 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 purchasing an additional 9,044 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in European Wax Center by 15.5% in the second quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock valued at $836,000 after purchasing an additional 11,300 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of European Wax Center by 25.7% in the 2nd quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock valued at $566,000 after buying an additional 11,650 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of European Wax Center in the 2nd quarter valued at approximately $127,000. Institutional investors and hedge funds 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.