Telsey Advisory Group Reaffirms “Market Perform” Rating for European Wax Center (NASDAQ:EWCZ)

European Wax Center (NASDAQ:EWCZ)‘s stock had its “market perform” rating restated by stock analysts at Telsey Advisory Group in a report released on Tuesday,Benzinga reports. They presently have a $6.00 price objective on the stock. Telsey Advisory Group’s target price indicates a potential upside of 2.04% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a research note on Friday, November 15th. Piper Sandler cut European Wax Center from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $9.00 to $7.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, European Wax Center currently has an average rating of “Hold” and a consensus price target of $6.64.

European Wax Center Stock Performance

Shares of NASDAQ:EWCZ opened at $5.88 on Tuesday. European Wax Center has a 1 year low of $4.80 and a 1 year high of $15.50. 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’s 50 day simple moving average is $6.61 and its 200 day simple moving average is $6.63. The stock has a market capitalization of $334.82 million, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95.

Insider Buying and Selling at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 29,262 shares in the company, valued at approximately $171,182.70. This represents a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. PharVision Advisers LLC purchased a new position in shares of European Wax Center during the 4th quarter worth about $403,000. Woodline Partners LP lifted its stake in shares of European Wax Center by 92.7% during the 4th quarter. Woodline Partners LP now owns 643,755 shares of the company’s stock worth $4,294,000 after acquiring an additional 309,673 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in European Wax Center by 61.7% during the 4th quarter. Two Sigma Advisers LP now owns 135,200 shares of the company’s stock valued at $902,000 after acquiring an additional 51,600 shares during the period. Two Sigma Investments LP boosted its holdings in European Wax Center by 32.9% during the 4th quarter. Two Sigma Investments LP now owns 416,361 shares of the company’s stock valued at $2,777,000 after acquiring an additional 103,042 shares during the period. Finally, State of Wyoming boosted its position in European Wax Center by 135.9% in the 4th quarter. State of Wyoming now owns 52,700 shares of the company’s stock valued at $352,000 after buying an additional 30,361 shares during the period. 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.