Morgan Stanley Has Lowered Expectations for European Wax Center (NASDAQ:EWCZ) Stock Price

European Wax Center (NASDAQ:EWCZ - Get Free Report) had its price target reduced by equities researchers at Morgan Stanley from $5.00 to $4.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Morgan Stanley's price target suggests a potential downside of 8.05% from the stock's current price.

A number of other analysts have also recently issued reports on the company. Telsey Advisory Group reiterated a "market perform" rating and set a $6.00 target price on shares of European Wax Center in a report on Tuesday, March 11th. Piper Sandler downgraded shares of European Wax Center from an "overweight" rating to a "neutral" rating and cut their target price for the company from $9.00 to $7.00 in a research note on Monday, January 6th. Finally, Robert W. Baird decreased their price target on shares of European Wax Center from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.21.

European Wax Center Trading Up 3.6 %

European Wax Center stock traded up $0.15 during trading on Wednesday, reaching $4.35. The company had a trading volume of 1,126,186 shares, compared to its average volume of 608,145. The firm has a market capitalization of $247.70 million, a price-to-earnings ratio of 18.91, a PEG ratio of 1.72 and a beta of 0.95. The stock's 50 day moving average price is $6.38 and its two-hundred day moving average price is $6.56. European Wax Center has a 12-month low of $2.72 and a 12-month high of $13.31. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17.

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Insider Transactions at European Wax Center

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the stock in a transaction that occurred 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 transaction, the director now owns 29,262 shares of the company's stock, valued at $171,182.70. This trade represents a 12.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.14% of the company's stock.

Hedge Funds Weigh In On European Wax Center

Large investors have recently added to or reduced their stakes in the company. PharVision Advisers LLC acquired a new stake in shares of European Wax Center during the fourth quarter worth $403,000. Woodline Partners LP raised its stake in European Wax Center by 92.7% during the fourth quarter. Woodline Partners LP now owns 643,755 shares of the company's stock worth $4,294,000 after acquiring an additional 309,673 shares during the period. Two Sigma Advisers LP lifted its holdings in European Wax Center by 61.7% in the fourth quarter. Two Sigma Advisers LP now owns 135,200 shares of the company's stock worth $902,000 after acquiring an additional 51,600 shares during the last quarter. Two Sigma Investments LP boosted its stake in European Wax Center by 32.9% in the fourth quarter. Two Sigma Investments LP now owns 416,361 shares of the company's stock valued at $2,777,000 after acquiring an additional 103,042 shares during the period. Finally, State of Wyoming grew its holdings in shares of European Wax Center by 135.9% during the fourth quarter. State of Wyoming now owns 52,700 shares of the company's stock valued at $352,000 after purchasing an additional 30,361 shares during the last quarter. 82.14% of the stock is currently owned by 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.