European Wax Center (NASDAQ:EWCZ) Price Target Lowered to $4.00 at Morgan Stanley

European Wax Center (NASDAQ:EWCZ) had its price objective trimmed by Morgan Stanley from $5.00 to $4.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other research firms have also recently commented on EWCZ. Piper Sandler cut shares of European Wax Center from an “overweight” rating to a “neutral” rating and cut their target price for the company from $9.00 to $7.00 in a research note on Monday, January 6th. Robert W. Baird cut their target price on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $6.00 target price on shares of European Wax Center in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, European Wax Center presently has a consensus rating of “Hold” and an average price target of $6.21.

European Wax Center Price Performance

NASDAQ EWCZ opened at $4.42 on Wednesday. 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 fifty day simple moving average of $6.47 and a 200 day simple moving average of $6.59. The company has a market cap of $251.69 million, a P/E ratio of 19.22, a P/E/G ratio of 1.72 and a beta of 0.95. European Wax Center has a 1 year low of $2.72 and a 1 year high of $13.64.

Insider Activity

In other news, Director Nital P. Scott sold 4,344 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total value of $25,412.40. Following the completion of the transaction, the director now owns 29,262 shares in the company, valued at approximately $171,182.70. This represents a 12.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.14% of the company’s stock.

Hedge Funds Weigh In On European Wax Center

A number of hedge funds have recently made changes to their positions in the business. Two Sigma Securities LLC acquired a new stake in shares of European Wax Center during the 4th quarter worth about $83,000. Price T Rowe Associates Inc. MD increased its position in shares of European Wax Center by 14.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company’s stock worth $84,000 after purchasing an additional 1,582 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in shares of European Wax Center during the 4th quarter worth about $88,000. SG Americas Securities LLC increased its position in shares of European Wax Center by 12.3% during the 4th quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock worth $103,000 after purchasing an additional 1,690 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of European Wax Center during the 4th quarter worth about $106,000. Institutional investors and hedge funds 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.