Brokerages Set European Wax Center, Inc. (NASDAQ:EWCZ) Price Target at $7.36

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have earned an average recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $7.36.

A number of analysts have issued reports on the company. Telsey Advisory Group downgraded European Wax Center from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $8.00 to $6.00 in a research note on Thursday, December 19th. Morgan Stanley reissued an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th.

European Wax Center Trading Up 5.0 %

Shares of EWCZ stock opened at $6.67 on Friday. 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 market capitalization of $379.81 million, a price-to-earnings ratio of 29.00, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. European Wax Center has a 12-month low of $4.80 and a 12-month high of $16.07. The stock’s 50-day moving average price is $6.45 and its 200-day moving average price is $7.43.

Insider Buying and Selling

In related news, Director Nital P. Scott sold 4,344 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total value of $25,412.40. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. 6.14% of the stock is owned by corporate insiders.

Institutional Trading of European Wax Center

Several institutional investors and hedge funds have recently modified their holdings of EWCZ. SG Americas Securities LLC purchased a new stake in European Wax Center in the third quarter worth about $93,000. Royce & Associates LP bought a new stake in shares of European Wax Center in the 3rd quarter valued at about $108,000. Aigen Investment Management LP purchased a new stake in shares of European Wax Center in the 3rd quarter worth approximately $114,000. Dark Forest Capital Management LP bought a new position in shares of European Wax Center during the second quarter valued at approximately $127,000. Finally, Algert Global LLC bought a new position in shares of European Wax Center during the second quarter valued at approximately $135,000. Institutional investors 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.