Analysts Set European Wax Center, Inc. (NASDAQ:EWCZ) Target Price at $7.64

European Wax Center, Inc. (NASDAQ:EWCZ) has been given a consensus rating of “Hold” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $7.64.

A number of research firms have recently commented on EWCZ. Morgan Stanley reissued an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research note on Friday, November 15th. Truist Financial lowered their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Bank of America lowered their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Citigroup downgraded European Wax Center from a “buy” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $5.50 in a report on Thursday, August 15th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $8.00 target price on shares of European Wax Center in a report on Thursday, November 14th.

European Wax Center Trading Down 0.9 %

NASDAQ EWCZ opened at $6.40 on Monday. European Wax Center has a 12 month low of $4.80 and a 12 month high of $16.07. The stock has a market cap of $364.42 million, a P/E ratio of 27.83, a P/E/G ratio of 2.45 and a beta of 1.01. The stock’s fifty day moving average price is $6.80 and its 200-day moving average price is $8.07. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its stake in shares of European Wax Center by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock worth $22,675,000 after buying an additional 155,875 shares during the period. FMR LLC grew its position in shares of European Wax Center by 18.9% during the third 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 in the last quarter. Southpoint Capital Advisors LP grew its position in shares of European Wax Center by 5.3% during the third quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company’s stock worth $13,600,000 after purchasing an additional 100,000 shares in the last quarter. Vanguard Group Inc. grew its position in shares of European Wax Center by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after purchasing an additional 29,918 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of European Wax Center by 3.9% during the third quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock worth $5,582,000 after purchasing an additional 30,804 shares in the last quarter. 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.