Morgan Stanley Has Lowered Expectations for European Wax Center (NASDAQ:EWCZ) Stock Price

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

A number of other equities research analysts have also commented on the stock. Piper Sandler lowered shares of European Wax Center from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $9.00 to $7.00 in a report on Monday, January 6th. Telsey Advisory Group reissued a “market perform” rating and set a $6.00 price objective on shares of European Wax Center in a report on Tuesday. Finally, Robert W. Baird decreased their price objective on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, European Wax Center currently has an average rating of “Hold” and a consensus target price of $6.21.

European Wax Center Stock Down 0.7 %

Shares of NASDAQ:EWCZ opened at $4.42 on Wednesday. European Wax Center has a 12 month low of $2.72 and a 12 month high of $13.64. The company’s 50-day moving average price is $6.47 and its two-hundred day moving average price is $6.59. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The firm 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.

Insider Activity

In related news, Director Nital P. Scott sold 4,344 shares of European Wax Center stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Securities LLC bought a new position in European Wax Center during the 4th quarter worth approximately $83,000. Price T Rowe Associates Inc. MD boosted its stake in 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 acquiring an additional 1,582 shares during the last quarter. Oxford Asset Management LLP bought a new position in European Wax Center during the 4th quarter worth approximately $88,000. SG Americas Securities LLC boosted its stake in 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 acquiring an additional 1,690 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in European Wax Center during the 4th quarter worth approximately $106,000. 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.