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

European Wax Center, Inc. (NASDAQ:EWCZ) has been given a consensus rating of “Hold” by the seven research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $6.64.

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

European Wax Center Stock Down 3.7 %

EWCZ stock opened at $6.57 on Friday. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. The firm’s fifty day simple moving average is $6.47 and its 200-day simple moving average is $6.66. European Wax Center has a 12 month low of $4.80 and a 12 month high of $15.52. The company has a market capitalization of $374.12 million, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95.

Insider Transactions at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 29,262 shares of the company’s stock, valued at approximately $171,182.70. This represents a 12.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.14% of the company’s stock.

Institutional Trading of European Wax Center

A number of institutional investors and hedge funds have recently made changes to their positions in EWCZ. Barclays PLC grew its stake in European Wax Center by 365.7% in the 3rd quarter. Barclays PLC now owns 56,510 shares of the company’s stock valued at $385,000 after acquiring an additional 44,376 shares during the period. Algert Global LLC grew its position in shares of European Wax Center by 720.4% in the third quarter. Algert Global LLC now owns 111,137 shares of the company’s stock valued at $756,000 after purchasing an additional 97,590 shares during the period. FMR LLC grew its position in shares of European Wax Center by 18.9% in the third quarter. FMR LLC now owns 2,697,742 shares of the company’s stock valued at $18,345,000 after purchasing an additional 428,280 shares during the period. Kanen Wealth Management LLC purchased a new stake in shares of European Wax Center during the fourth quarter worth about $637,000. Finally, Walleye Capital LLC acquired a new position in shares of European Wax Center during the 3rd quarter worth about $754,000. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

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.