European Wax Center’s (EWCZ) Market Perform Rating Reiterated at Telsey Advisory Group

European Wax Center (NASDAQ:EWCZ)‘s stock had its “market perform” rating restated by equities researchers at Telsey Advisory Group in a report released on Tuesday,Benzinga reports. They currently have a $6.00 target price on the stock. Telsey Advisory Group’s target price would indicate a potential downside of 1.48% from the company’s current price.

A number of other equities research analysts have also weighed in on EWCZ. Morgan Stanley reissued an “underweight” rating and set a $5.00 price objective on shares of European Wax Center in a report on Friday, November 15th. Piper Sandler downgraded European Wax Center from an “overweight” rating to a “neutral” rating and dropped their price target 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 issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, European Wax Center has an average rating of “Hold” and a consensus target price of $6.64.

European Wax Center Stock Down 6.3 %

EWCZ stock opened at $6.09 on Tuesday. The stock has a market capitalization of $346.78 million, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. European Wax Center has a 52 week low of $4.80 and a 52 week high of $15.50. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The firm has a 50 day moving average of $6.58 and a 200 day moving average of $6.64.

Insider Buying and Selling at European Wax Center

In other news, Director Nital P. Scott sold 4,344 shares of the business’s 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 completion of the transaction, the director now owns 29,262 shares of the company’s stock, valued at $171,182.70. The trade was a 12.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its position in European Wax Center by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock worth $22,675,000 after purchasing an additional 155,875 shares in the last quarter. FMR LLC boosted its holdings in European Wax Center by 18.9% during the third quarter. FMR LLC now owns 2,697,742 shares of the company’s stock worth $18,345,000 after buying an additional 428,280 shares in the last quarter. Ararat Capital Management LP boosted its holdings in European Wax Center by 8.1% during the fourth quarter. Ararat Capital Management LP now owns 2,418,693 shares of the company’s stock worth $16,133,000 after buying an additional 181,449 shares in the last quarter. Southpoint Capital Advisors LP grew its position in European Wax Center by 5.3% during the third quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company’s stock valued at $13,600,000 after buying an additional 100,000 shares during the period. Finally, CenterBook Partners LP increased its holdings in European Wax Center by 42.2% in the fourth quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock valued at $11,454,000 after buying an additional 509,991 shares in the last quarter. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

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.