European Wax Center (NASDAQ:EWCZ) Price Target Lowered to $4.00 at Morgan Stanley

European Wax Center (NASDAQ:EWCZ) had its price objective decreased by equities research analysts at Morgan Stanley from $5.00 to $4.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 10.11% from the stock’s previous close.

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

European Wax Center Trading Down 12.9 %

Shares of EWCZ stock opened at $4.45 on Wednesday. The company has a market capitalization of $253.40 million, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. European Wax Center has a 52-week low of $2.72 and a 52-week high of $14.64. The business’s fifty day moving average is $6.52 and its 200 day moving average is $6.61. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17.

Insiders Place Their Bets

In other news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.14% of the stock is owned by insiders.

Hedge Funds Weigh In On European Wax Center

Institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Securities LLC purchased a new stake in European Wax Center during the fourth quarter valued at about $83,000. Price T Rowe Associates Inc. MD boosted its holdings in European Wax Center by 14.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company’s stock valued at $84,000 after acquiring an additional 1,582 shares during the period. Oxford Asset Management LLP bought a new position in European Wax Center during the 4th quarter worth approximately $88,000. SG Americas Securities LLC increased its stake in European Wax Center by 12.3% in the 4th quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock worth $103,000 after purchasing an additional 1,690 shares during the period. Finally, Royce & Associates LP purchased a new position in European Wax Center in the 3rd quarter worth approximately $108,000. 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.