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

European Wax Center, Inc. (NASDAQ:EWCZ - Get Free Report) has been given an average rating of "Hold" by the seven ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $6.64.

A number of equities research analysts recently commented on EWCZ shares. 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 note on Monday, January 6th. Telsey Advisory Group reiterated a "market perform" rating and issued a $6.00 price target on shares of European Wax Center in a research report on Tuesday, January 14th. Finally, Morgan Stanley restated an "underweight" rating and set a $5.00 price objective on shares of European Wax Center in a research report on Friday, November 15th.

European Wax Center Price Performance

European Wax Center stock traded up $0.06 during trading hours on Friday, hitting $7.41. The stock had a trading volume of 51,737 shares, compared to its average volume of 586,992. The stock has a market capitalization of $421.93 million, a price-to-earnings ratio of 32.09, a PEG ratio of 1.72 and a beta of 0.95. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. European Wax Center has a 1-year low of $4.80 and a 1-year high of $15.59. The stock's fifty day moving average is $6.40 and its two-hundred day moving average is $6.67.

Insider Buying and Selling

In other news, Director Nital P. Scott sold 4,344 shares of the firm's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total transaction of $25,412.40. Following the sale, the director now owns 29,262 shares in the company, valued at $171,182.70. This trade represents a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On European Wax Center

Several institutional investors have recently added to or reduced their stakes in EWCZ. Massachusetts Financial Services Co. MA grew its holdings 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 valued at $22,675,000 after buying an additional 155,875 shares during the period. FMR LLC boosted its position in shares of European Wax Center by 18.9% in the third 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 during the last quarter. Ararat Capital Management LP grew its holdings in European Wax Center by 8.1% in the fourth quarter. Ararat Capital Management LP now owns 2,418,693 shares of the company's stock valued at $16,133,000 after purchasing an additional 181,449 shares during the period. Southpoint Capital Advisors LP increased 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 worth $13,600,000 after purchasing an additional 100,000 shares during the last quarter. Finally, CenterBook Partners LP raised its stake in European Wax Center by 42.2% during the fourth quarter. CenterBook Partners LP now owns 1,717,249 shares of the company's stock worth $11,454,000 after purchasing an additional 509,991 shares during the period. 82.14% of the stock is currently owned by institutional investors and hedge funds.

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.