European Wax Center (NASDAQ:EWCZ) Stock Rating Lowered by Piper Sandler

Piper Sandler downgraded shares of European Wax Center (NASDAQ:EWCZ) from an overweight rating to a neutral rating in a research report sent to investors on Monday, MarketBeat.com reports. The brokerage currently has $7.00 target price on the stock, down from their previous target price of $9.00.

Several other research analysts also recently weighed in on EWCZ. Morgan Stanley reissued 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 shares of European Wax Center from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $8.00 to $6.00 in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, European Wax Center presently has a consensus rating of “Hold” and a consensus target price of $6.64.

European Wax Center Stock Performance

European Wax Center stock opened at $6.41 on Monday. European Wax Center has a fifty-two week low of $4.80 and a fifty-two week high of $16.07. The company has a market capitalization of $364.99 million, a price-to-earnings ratio of 27.87, a PEG ratio of 2.31 and a beta of 1.01. The stock has a fifty day moving average of $6.37 and a two-hundred day moving average of $7.24. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17.

Insider Buying and Selling

In other news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total transaction of $25,412.40. Following the completion of the sale, the director now owns 29,262 shares in the company, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.14% of the company’s stock.

Institutional Investors Weigh In On European Wax Center

Several large investors have recently made changes to their positions in the business. Algert Global LLC boosted its position in European Wax Center by 720.4% during the 3rd quarter. Algert Global LLC now owns 111,137 shares of the company’s stock worth $756,000 after purchasing an additional 97,590 shares during the period. Millennium Management LLC lifted its stake in shares of European Wax Center by 44.0% during the second quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after purchasing an additional 164,688 shares in the last quarter. FMR LLC boosted its position 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 buying an additional 428,280 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of 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 in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of European Wax Center during the 3rd quarter valued at about $754,000. Institutional investors and hedge funds 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.