European Wax Center (NASDAQ:EWCZ) Rating Lowered to "Neutral" at Piper Sandler

European Wax Center (NASDAQ:EWCZ - Get Free Report) was downgraded by investment analysts at Piper Sandler from an "overweight" rating to a "neutral" rating in a research report issued on Monday, Marketbeat reports. They presently have a $7.00 price objective on the stock, down from their previous price objective of $9.00. Piper Sandler's price target would indicate a potential upside of 14.38% from the stock's current price.

Several other analysts also recently commented on EWCZ. Telsey Advisory Group downgraded shares of European Wax Center from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $8.00 to $6.00 in a research report on Thursday, December 19th. Morgan Stanley reiterated an "underweight" rating and set a $5.00 price target on shares of European Wax Center in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, European Wax Center has a consensus rating of "Hold" and a consensus target price of $6.64.

European Wax Center Stock Down 6.3 %

European Wax Center stock traded down $0.41 on Monday, hitting $6.12. 936,221 shares of the stock traded hands, compared to its average volume of 846,307. European Wax Center has a 1 year low of $4.80 and a 1 year high of $16.07. The firm has a market cap of $348.49 million, a P/E ratio of 26.61, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. The business's fifty day simple moving average is $6.40 and its 200 day simple moving average is $7.28.

Insider Activity at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total transaction of $25,412.40. Following the completion of the sale, the director now owns 29,262 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. 6.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On European Wax Center

Institutional investors and hedge funds have recently modified their holdings of the stock. Dark Forest Capital Management LP bought a new stake in shares of European Wax Center in the second quarter worth about $127,000. Algert Global LLC bought a new stake in European Wax Center in the 2nd quarter worth approximately $135,000. SG Americas Securities LLC purchased a new stake in shares of European Wax Center during the 3rd quarter worth approximately $93,000. Royce & Associates LP bought a new position in shares of European Wax Center during the 3rd quarter valued at approximately $108,000. Finally, Aigen Investment Management LP bought a new position in shares of European Wax Center during the 3rd quarter valued at approximately $114,000. Institutional investors own 82.14% of the company's stock.

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.