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

European Wax Center (NASDAQ:EWCZ)‘s stock had its “outperform” rating reissued by equities research analysts at Telsey Advisory Group in a report released on Thursday,Benzinga reports. They presently have a $8.00 price objective on the stock. Telsey Advisory Group’s target price indicates a potential upside of 32.45% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating and set a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. Truist Financial reduced their target price 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. Citigroup lowered European Wax Center from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $5.50 in a research note on Thursday, August 15th. Bank of America reduced their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Finally, Robert W. Baird dropped their target price on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, European Wax Center has a consensus rating of “Hold” and an average target price of $7.64.

European Wax Center Trading Up 3.2 %

Shares of EWCZ stock opened at $6.04 on Thursday. The firm’s 50-day simple moving average is $6.73 and its 200-day simple moving average is $7.94. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. European Wax Center has a 1-year low of $4.80 and a 1-year high of $16.07. The firm has a market cap of $343.92 million, a P/E ratio of 26.26, a PEG ratio of 2.35 and a beta of 1.01.

Institutional Investors Weigh In On European Wax Center

A number of large investors have recently modified their holdings of EWCZ. Algert Global LLC lifted its position in European Wax Center by 720.4% during the 3rd quarter. Algert Global LLC now owns 111,137 shares of the company’s stock worth $756,000 after acquiring an additional 97,590 shares in the last quarter. Millennium Management LLC lifted its position in shares of European Wax Center by 44.0% during the second quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after purchasing an additional 164,688 shares in the last quarter. FMR LLC lifted 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. Massachusetts Financial Services Co. MA boosted 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 valued at $22,675,000 after purchasing an additional 155,875 shares during the period. Finally, Walleye Capital LLC acquired a new stake in European Wax Center during the 3rd quarter valued at $754,000. Institutional investors and hedge funds own 82.14% of the company’s stock.

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.