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 reiterated by equities researchers at Telsey Advisory Group in a research note issued on Tuesday,Benzinga reports. They currently have a $6.00 price target on the stock. Telsey Advisory Group’s price objective would indicate a potential downside of 1.48% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Piper Sandler cut European Wax Center from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $7.00 in a research note on Monday, January 6th. Morgan Stanley reissued an “underweight” rating and set a $5.00 price target on shares of European Wax Center in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, European Wax Center currently has a consensus rating of “Hold” and a consensus target price of $6.64.

European Wax Center Trading Down 6.3 %

Shares of EWCZ opened at $6.09 on Tuesday. The firm has a market capitalization of $346.78 million, a price-to-earnings ratio of 26.48, a PEG ratio of 1.72 and a beta of 0.95. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. European Wax Center has a 1-year low of $4.80 and a 1-year high of $15.50. The company has a 50-day moving average of $6.58 and a 200 day moving average of $6.64.

Insider Buying and Selling at European Wax Center

In other news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total value of $25,412.40. Following the completion of the transaction, the director now directly owns 29,262 shares of the company’s stock, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.14% of the company’s stock.

Hedge Funds Weigh In On European Wax Center

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of European Wax Center by 365.7% in the 3rd quarter. Barclays PLC now owns 56,510 shares of the company’s stock valued at $385,000 after buying an additional 44,376 shares in the last quarter. Algert Global LLC lifted its position in European Wax Center by 720.4% during the third quarter. Algert Global LLC now owns 111,137 shares of the company’s stock valued at $756,000 after acquiring an additional 97,590 shares during the last quarter. FMR LLC lifted 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 valued at $18,345,000 after acquiring an additional 428,280 shares during the last quarter. Kanen Wealth Management LLC acquired a new stake in European Wax Center in the fourth quarter valued at approximately $637,000. Finally, Walleye Capital LLC purchased a new position in European Wax Center in the third quarter worth $754,000. Hedge funds and other institutional investors 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.