European Wax Center, Inc. (NASDAQ:EWCZ) Given Average Rating of “Hold” by Brokerages

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have been given an average recommendation of “Hold” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.94.

Several analysts have recently commented on EWCZ shares. Robert W. Baird reduced their target price on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Telsey Advisory Group reissued a “market perform” rating and set a $6.00 price target on shares of European Wax Center in a report on Tuesday, March 11th. Morgan Stanley lowered their price objective on European Wax Center from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. Piper Sandler cut 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 research report on Monday, January 6th. Finally, Jefferies Financial Group set a $15.00 price target on European Wax Center in a report on Tuesday, March 11th.

European Wax Center Price Performance

Shares of NASDAQ EWCZ opened at $3.65 on Friday. The stock has a fifty day moving average price of $5.26 and a 200 day moving average price of $6.11. European Wax Center has a 1-year low of $2.72 and a 1-year high of $12.14. 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 company has a market cap of $202.01 million, a PE ratio of 15.87, a P/E/G ratio of 1.72 and a beta of 1.15.

Institutional Investors Weigh In On European Wax Center

Institutional investors have recently modified their holdings of the company. D. E. Shaw & Co. Inc. lifted its holdings in shares of European Wax Center by 102.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,321,817 shares of the company’s stock valued at $8,817,000 after purchasing an additional 667,723 shares in the last quarter. CenterBook Partners LP grew its holdings in European Wax Center by 42.2% during the 4th quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock valued at $11,454,000 after buying an additional 509,991 shares during the last quarter. FMR LLC increased its position in 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 buying an additional 428,280 shares in the last quarter. Highland Peak Capital LLC acquired a new position in shares of European Wax Center in the fourth quarter worth $2,745,000. Finally, Woodline Partners LP lifted its position in shares of European Wax Center by 92.7% in the fourth quarter. Woodline Partners LP now owns 643,755 shares of the company’s stock valued at $4,294,000 after acquiring an additional 309,673 shares in the last quarter. Hedge funds and other 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.