Weiss Ratings Initiates Coverage on European Wax Center (NASDAQ:EWCZ)

Weiss Ratings initiated coverage on shares of European Wax Center (NASDAQ:EWCZ) in a note issued to investors on Saturday,Weiss Ratings reports. The firm set a “sell (d+)” rating on the stock.

EWCZ has been the subject of several other research reports. Telsey Advisory Group restated a “market perform” rating and set a $5.00 price target on shares of European Wax Center in a research report on Wednesday, August 13th. Wall Street Zen lowered shares of European Wax Center from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Robert W. Baird set a $5.50 price target on shares of European Wax Center in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, European Wax Center has a consensus rating of “Reduce” and an average price target of $6.93.

European Wax Center Stock Performance

EWCZ traded down $0.04 during trading on Friday, hitting $3.87. 94,343 shares of the company traded hands, compared to its average volume of 589,932. The firm has a market cap of $213.43 million, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 0.35 and a beta of 1.45. The stock’s fifty day moving average is $3.89 and its 200 day moving average is $4.50. The company has a quick ratio of 2.76, a current ratio of 3.38 and a debt-to-equity ratio of 3.53. European Wax Center has a one year low of $2.72 and a one year high of $8.91.

Institutional Investors Weigh In On European Wax Center

Institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of European Wax Center by 378.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 228,066 shares of the company’s stock worth $901,000 after buying an additional 180,389 shares in the last quarter. Nuveen LLC purchased a new stake in shares of European Wax Center in the first quarter worth about $361,000. Federated Hermes Inc. purchased a new stake in shares of European Wax Center in the first quarter worth about $1,543,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of European Wax Center in the first quarter worth about $458,000. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of European Wax Center by 340.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 118,952 shares of the company’s stock worth $470,000 after buying an additional 91,972 shares in the last quarter. 82.14% of the stock is owned by hedge funds and other institutional investors.

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.