European Wax Center, Inc. (NASDAQ:EWCZ) Receives $6.64 Consensus Target Price from Analysts

European Wax Center, Inc. (NASDAQ:EWCZ) has been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.64.

A number of analysts recently weighed in on EWCZ shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 price objective on shares of European Wax Center in a research note on Tuesday, January 14th. Piper Sandler cut shares of European Wax Center from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $9.00 to $7.00 in a research report on Monday, January 6th. Finally, Morgan Stanley reissued an “underweight” rating and set a $5.00 price objective on shares of European Wax Center in a report on Friday, November 15th.

Insider Activity

In other news, Director Nital P. Scott sold 4,344 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total value of $25,412.40. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.14% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. grew its stake in shares of European Wax Center by 102.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,321,817 shares of the company’s stock worth $8,817,000 after acquiring an additional 667,723 shares during the last quarter. CenterBook Partners LP boosted its stake in European Wax Center by 42.2% in the 4th quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock worth $11,454,000 after purchasing an additional 509,991 shares in the last quarter. FMR LLC grew its position in European Wax Center by 18.9% during the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock worth $18,345,000 after purchasing an additional 428,280 shares during the last quarter. Highland Peak Capital LLC acquired a new position in European Wax Center during the 4th quarter valued at approximately $2,745,000. Finally, Woodline Partners LP lifted its stake in shares of 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 buying an additional 309,673 shares during the period. 82.14% of the stock is owned by institutional investors and hedge funds.

European Wax Center Price Performance

Shares of EWCZ stock opened at $6.57 on Friday. European Wax Center has a twelve month low of $4.80 and a twelve month high of $15.52. 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 stock has a fifty day simple moving average of $6.47 and a two-hundred day simple moving average of $6.66. The stock has a market capitalization of $374.12 million, a price-to-earnings ratio of 28.57, a P/E/G ratio of 1.78 and a beta of 0.95.

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.