European Wax Center, Inc. (NASDAQ:EWCZ) Receives $6.64 Consensus Target Price from Analysts

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $6.64.

A number of analysts recently commented on the company. Morgan Stanley reiterated an “underweight” rating and set a $5.00 price target on shares of European Wax Center in a report on Friday, November 15th. Piper Sandler lowered shares of European Wax Center from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $9.00 to $7.00 in a research report on Monday, January 6th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $6.00 price objective on shares of European Wax Center in a report on Tuesday, January 14th.

Insider Buying and Selling

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of European Wax Center stock in a transaction that occurred 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 sale, the director now directly owns 29,262 shares in the company, valued at $171,182.70. The trade was a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.14% of the stock is currently owned by insiders.

Institutional Trading of European Wax Center

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC grew its position in European Wax Center by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock valued at $103,000 after acquiring an additional 1,690 shares during the last quarter. Kanen Wealth Management LLC bought a new position in shares of European Wax Center during the fourth quarter valued at about $637,000. Barclays PLC grew its position in shares of European Wax Center by 365.7% in the 3rd quarter. Barclays PLC now owns 56,510 shares of the company’s stock worth $385,000 after buying an additional 44,376 shares during the last quarter. Geode Capital Management LLC increased its position in European Wax Center by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock valued at $5,582,000 after purchasing an additional 30,804 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in European Wax Center in the 3rd quarter worth $451,000. 82.14% of the stock is owned by institutional investors.

European Wax Center Stock Performance

NASDAQ EWCZ opened at $6.71 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 fifty day moving average price of $6.12 and a 200-day moving average price of $6.94. 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 firm has a market cap of $382.07 million, a price-to-earnings ratio of 29.17, a PEG ratio of 1.72 and a beta of 0.95.

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.