European Wax Center (NASDAQ:EWCZ) Stock Rating Lowered by Telsey Advisory Group

European Wax Center (NASDAQ:EWCZ) was downgraded by research analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $6.00 price target on the stock, down from their prior price target of $8.00. Telsey Advisory Group’s price target indicates a potential upside of 18.58% from the stock’s current price.

EWCZ has been the subject of several other research reports. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. Bank of America lowered their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.36.

European Wax Center Stock Down 3.4 %

Shares of European Wax Center stock opened at $5.06 on Thursday. The business has a 50-day moving average price of $6.59 and a 200 day moving average price of $7.74. European Wax Center has a fifty-two week low of $4.80 and a fifty-two week high of $16.07. The firm has a market cap of $288.13 million, a P/E ratio of 22.00, a P/E/G ratio of 2.35 and a beta of 1.01. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81.

Insider Activity

In related news, Director Nital P. Scott sold 4,344 shares of the 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 sale, 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 is accessible through the SEC website. Corporate insiders own 6.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EWCZ. Dark Forest Capital Management LP acquired a new position in shares of European Wax Center during the second quarter worth approximately $127,000. Algert Global LLC acquired a new position in European Wax Center during the 2nd quarter worth $135,000. SG Americas Securities LLC acquired a new position in European Wax Center during the 3rd quarter worth $93,000. Royce & Associates LP bought a new position in shares of European Wax Center in the third quarter worth $108,000. Finally, Aigen Investment Management LP acquired a new position in shares of European Wax Center during the third quarter valued at $114,000. 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.