Fmr LLC Boosts Stock Holdings in European Wax Center, Inc. (NASDAQ:EWCZ)

FMR LLC boosted its stake in European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 18.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,697,742 shares of the company's stock after acquiring an additional 428,280 shares during the period. FMR LLC owned 4.50% of European Wax Center worth $18,345,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EWCZ. Telsey Advisory Group reissued an "outperform" rating and set a $8.00 price objective on shares of European Wax Center in a research report on Thursday, November 14th. Bank of America cut their price target on shares of European Wax Center from $16.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, August 21st. Robert W. Baird cut their price objective on European Wax Center from $13.00 to $7.00 and set a "neutral" rating for the company in a report on Thursday, August 15th. Truist Financial cut their price target 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. Finally, Citigroup lowered European Wax Center from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $16.00 to $5.50 in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $7.64.

European Wax Center Trading Down 0.3 %

EWCZ traded down $0.02 during midday trading on Wednesday, hitting $6.14. 467,918 shares of the company were exchanged, compared to its average volume of 720,776. The firm has a market capitalization of $349.63 million, a P/E ratio of 26.78, a P/E/G ratio of 2.45 and a beta of 1.01. The firm's 50 day moving average price is $6.78 and its 200-day moving average price is $8.00. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. European Wax Center, Inc. has a 1-year low of $4.80 and a 1-year high of $16.07.

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.