European Wax Center (NASDAQ:EWCZ) Given New $5.00 Price Target at Robert W. Baird

European Wax Center (NASDAQ:EWCZ) had its price target lowered by Robert W. Baird from $7.00 to $5.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also issued reports on EWCZ. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 price objective 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 research report on Friday, November 15th. Finally, Piper Sandler lowered shares of European Wax Center from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $7.00 in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, European Wax Center has an average rating of “Hold” and a consensus target price of $6.21.

European Wax Center Price Performance

European Wax Center stock opened at $4.42 on Wednesday. European Wax Center has a 52-week low of $2.72 and a 52-week high of $13.64. The firm has a fifty day moving average of $6.47 and a 200-day moving average of $6.59. The firm has a market capitalization of $251.69 million, a P/E ratio of 19.22, a PEG ratio of 1.72 and a beta of 0.95. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81.

Insiders Place Their Bets

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total transaction of $25,412.40. Following the completion of the transaction, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EWCZ. D. E. Shaw & Co. Inc. grew its holdings in European Wax Center by 102.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,321,817 shares of the company’s stock worth $8,817,000 after acquiring an additional 667,723 shares in the last quarter. CenterBook Partners LP grew its holdings in European Wax Center by 42.2% during the 4th quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock worth $11,454,000 after acquiring an additional 509,991 shares in the last quarter. FMR LLC grew its holdings in European Wax Center by 18.9% during the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock worth $18,345,000 after acquiring an additional 428,280 shares in the last quarter. Highland Peak Capital LLC acquired a new position in European Wax Center during the 4th quarter worth $2,745,000. Finally, Woodline Partners LP grew its holdings in European Wax Center by 92.7% during the 4th 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. 82.14% of the stock is owned by institutional investors and hedge funds.

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.