Telsey Advisory Group Reiterates “Market Perform” Rating for European Wax Center (NASDAQ:EWCZ)

Telsey Advisory Group reissued their market perform rating on shares of European Wax Center (NASDAQ:EWCZ) in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $6.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on EWCZ. Piper Sandler cut European Wax Center from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $7.00 in a report on Monday, January 6th. Morgan Stanley reaffirmed an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. One investment 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.64.

European Wax Center Stock Performance

Shares of NASDAQ:EWCZ opened at $6.35 on Tuesday. 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 company has a 50-day moving average price of $6.25 and a 200-day moving average price of $7.11. The company has a market cap of $361.57 million, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 2.17 and a beta of 0.95. European Wax Center has a 12 month low of $4.80 and a 12 month high of $15.95.

Insiders Place Their Bets

In related news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total transaction of $25,412.40. Following the sale, the director now owns 29,262 shares of the company’s stock, valued at $171,182.70. The trade was a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On European Wax Center

Several large investors have recently made changes to their positions in EWCZ. Dark Forest Capital Management LP purchased a new stake in shares of European Wax Center in the 2nd quarter worth approximately $127,000. Algert Global LLC bought a new stake in European Wax Center in the second quarter worth $135,000. SG Americas Securities LLC purchased a new stake in shares of European Wax Center in the third quarter worth $93,000. Royce & Associates LP bought a new position in shares of European Wax Center during the third quarter valued at $108,000. Finally, Aigen Investment Management LP purchased a new position in shares of European Wax Center in the 3rd quarter worth about $114,000. 82.14% of the stock is currently 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.