European Wax Center, Inc. (NASDAQ:EWCZ) Receives $5.84 Average Target Price from Brokerages

Shares of European Wax Center, Inc. (NASDAQ:EWCZ) have been assigned an average rating of “Reduce” from the six brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $5.84.

A number of equities analysts have recently issued reports on the company. Morgan Stanley set a $5.80 price objective on European Wax Center and gave the stock an “equal weight” rating in a report on Wednesday, February 11th. Truist Financial downgraded European Wax Center from a “buy” rating to a “hold” rating and dropped their target price for the stock from $6.00 to $5.80 in a research report on Tuesday, February 10th. Zacks Research cut shares of European Wax Center from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of European Wax Center in a research note on Thursday, January 29th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $5.80 price objective on shares of European Wax Center in a report on Thursday, March 5th.

Institutional Trading of European Wax Center

Institutional investors have recently added to or reduced their stakes in the business. CenterBook Partners LP increased its holdings in shares of European Wax Center by 14.1% in the second quarter. CenterBook Partners LP now owns 814,171 shares of the company’s stock worth $4,584,000 after buying an additional 100,455 shares during the period. Hillsdale Investment Management Inc. bought a new position in European Wax Center during the 2nd quarter worth approximately $5,524,000. MIG Capital LLC grew its position in European Wax Center by 65.8% during the 2nd quarter. MIG Capital LLC now owns 2,057,186 shares of the company’s stock worth $11,582,000 after acquiring an additional 816,657 shares during the last quarter. Ararat Capital Management LP lifted its position in European Wax Center by 26.3% in the third quarter. Ararat Capital Management LP now owns 3,114,767 shares of the company’s stock valued at $12,428,000 after purchasing an additional 647,770 shares during the last quarter. Finally, Kazazian Asset Management LLC lifted its position in European Wax Center by 107.7% in the third quarter. Kazazian Asset Management LLC now owns 335,000 shares of the company’s stock valued at $1,337,000 after purchasing an additional 173,707 shares during the last quarter. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

European Wax Center Stock Up 0.2%

EWCZ opened at $5.78 on Friday. The business’s fifty day simple moving average is $5.07 and its 200 day simple moving average is $4.25. European Wax Center has a 52 week low of $2.95 and a 52 week high of $6.51. The company has a quick ratio of 2.29, a current ratio of 2.70 and a debt-to-equity ratio of 3.57. The stock has a market cap of $315.22 million, a PE ratio of 27.52, a P/E/G ratio of 0.54 and a beta of 1.37.

European Wax Center Company Profile

European Wax Center is a national provider of hair removal services and related beauty products. The company operates through a network of company-owned and franchised locations, delivering professional waxing treatments for both women and men. Its core service offerings include facial waxing, bikini and Brazilian waxes, arm and leg treatments, back and chest services, and specialized body waxing. In addition to waxing services, European Wax Center markets a range of proprietary retail products such as pre- and post-wax skincare lotions, exfoliating treatments, and moisturizers designed to enhance client comfort and results.

Founded in 2004, European Wax Center introduced a standardized approach to the waxing experience, focusing on consistent training, customer education, and hygienic protocols.