European Wax Center's (EWCZ) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of European Wax Center (NASDAQ:EWCZ - Free Report) in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a $8.00 target price on the stock.

Several other research firms also recently commented on EWCZ. Morgan Stanley reiterated an "underweight" rating and issued a $5.00 price target on shares of European Wax Center in a research report on Friday, November 15th. Truist Financial reduced their target price on shares of European Wax Center from $16.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Citigroup lowered European Wax Center from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $16.00 to $5.50 in a report on Thursday, August 15th. Robert W. Baird reduced their price objective on European Wax Center from $13.00 to $7.00 and set a "neutral" rating for the company in a research note on Thursday, August 15th. Finally, Bank of America decreased their price objective on European Wax Center from $16.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $7.64.

European Wax Center Stock Performance

EWCZ traded down $0.29 during trading on Thursday, hitting $5.85. 478,748 shares of the stock were exchanged, compared to its average volume of 719,768. The firm has a market capitalization of $333.12 million, a P/E ratio of 25.43, a PEG ratio of 2.45 and a beta of 1.01. European Wax Center has a 1-year low of $4.80 and a 1-year high of $16.07. The stock has a fifty day moving average price of $6.76 and a two-hundred day moving average price of $7.99. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81.

Hedge Funds Weigh In On European Wax Center

A number of large investors have recently modified their holdings of EWCZ. Massachusetts Financial Services Co. MA lifted its stake in shares of European Wax Center by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company's stock valued at $22,675,000 after purchasing an additional 155,875 shares during the period. FMR LLC increased its holdings in European Wax Center by 18.9% in the third quarter. FMR LLC now owns 2,697,742 shares of the company's stock valued at $18,345,000 after buying an additional 428,280 shares in the last quarter. Southpoint Capital Advisors LP lifted its position in shares of European Wax Center by 5.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company's stock valued at $13,600,000 after acquiring an additional 100,000 shares during the period. Geode Capital Management LLC boosted its stake in shares of European Wax Center by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 820,728 shares of the company's stock worth $5,582,000 after acquiring an additional 30,804 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of European Wax Center by 44.0% in the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company's stock worth $5,352,000 after acquiring an additional 164,688 shares during the period. 82.14% of the stock is 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.