European Wax Center (NASDAQ:EWCZ) Price Target Cut to $5.00 by Analysts at Robert W. Baird

European Wax Center (NASDAQ:EWCZ - Get Free Report) had its target price reduced by Robert W. Baird from $7.00 to $5.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 14.94% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Piper Sandler lowered 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. Morgan Stanley reissued an "underweight" rating and set a $5.00 price target on shares of European Wax Center in a research report on Friday, November 15th. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $6.00 price target on shares of European Wax Center in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $6.21.

European Wax Center Stock Up 3.6 %

European Wax Center stock traded up $0.15 during midday trading on Wednesday, hitting $4.35. 1,126,186 shares of the stock were exchanged, compared to its average volume of 608,145. The company has a 50 day moving average price of $6.38 and a two-hundred day moving average price of $6.56. 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 $247.70 million, a P/E ratio of 18.91, a P/E/G ratio of 1.72 and a beta of 0.95. European Wax Center has a 1 year low of $2.72 and a 1 year high of $13.31.

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Insiders Place Their Bets

In related news, Director Nital P. Scott sold 4,344 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total value of $25,412.40. Following the sale, the director now owns 29,262 shares of the company's stock, valued at approximately $171,182.70. This trade represents a 12.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On European Wax Center

Large investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC acquired a new stake in shares of European Wax Center in the 4th quarter worth about $83,000. Price T Rowe Associates Inc. MD boosted its position in shares of European Wax Center by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company's stock worth $84,000 after buying an additional 1,582 shares during the period. Oxford Asset Management LLP bought a new position in European Wax Center in the 4th quarter worth approximately $88,000. SG Americas Securities LLC increased its position in European Wax Center by 12.3% in the 4th 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 period. Finally, Intech Investment Management LLC bought a new stake in European Wax Center during the 4th quarter valued at $106,000. 82.14% of the stock is 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.