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

European Wax Center, Inc. (NASDAQ:EWCZ) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.36.

A number of brokerages have commented on EWCZ. Morgan Stanley restated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research note on Friday, November 15th. Telsey Advisory Group lowered European Wax Center from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $8.00 to $6.00 in a research report on Thursday, December 19th.

European Wax Center Trading Up 15.4 %

EWCZ stock opened at $6.16 on Friday. European Wax Center has a 12 month low of $4.80 and a 12 month high of $16.07. The firm’s 50-day moving average is $6.49 and its 200 day moving average is $7.57. The company has a market capitalization of $350.77 million, a PE ratio of 26.78, a P/E/G ratio of 2.35 and a beta of 1.01. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42.

Insiders Place Their Bets

In other 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 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. The trade was a 12.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On European Wax Center

Institutional investors have recently bought and sold shares of the company. FMR LLC increased its stake 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 worth $18,345,000 after acquiring an additional 428,280 shares during the period. Marshall Wace LLP acquired a new stake in European Wax Center during the second quarter worth about $3,274,000. Landscape Capital Management L.L.C. purchased a new stake in shares of European Wax Center during the 3rd quarter valued at approximately $1,231,000. Millennium Management LLC lifted its stake in shares of European Wax Center by 44.0% in the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock valued at $5,352,000 after purchasing an additional 164,688 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in European Wax Center by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock valued at $22,675,000 after buying an additional 155,875 shares during the last quarter. 82.14% of the stock is currently owned by institutional investors and hedge funds.

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.