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

Piper Sandler cut shares of European Wax Center (NASDAQ:EWCZ) from an overweight rating to a neutral rating in a report issued on Monday, Marketbeat reports. The firm currently has $7.00 target price on the stock, down from their previous target price of $9.00.

EWCZ has been the subject of several other reports. Morgan Stanley reaffirmed an “underweight” rating and set a $5.00 price objective on shares of European Wax Center in a research note on Friday, November 15th. Telsey Advisory Group downgraded European Wax Center from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $8.00 to $6.00 in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, European Wax Center presently has an average rating of “Hold” and a consensus target price of $6.64.

European Wax Center Price Performance

Shares of NASDAQ:EWCZ opened at $6.12 on Monday. European Wax Center has a one year low of $4.80 and a one year high of $16.07. The stock has a market capitalization of $348.49 million, a price-to-earnings ratio of 26.61, a PEG ratio of 2.35 and a beta of 0.95. The company has a 50-day simple moving average of $6.40 and a 200-day simple moving average of $7.28. 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 related news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total transaction of $25,412.40. Following the sale, the director now owns 29,262 shares of the company’s stock, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On European Wax Center

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP increased its stake in European Wax Center by 52.3% in the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock valued at $153,000 after purchasing an additional 7,709 shares in the last quarter. Creative Planning increased its position in shares of European Wax Center by 72.6% in the third quarter. Creative Planning now owns 21,501 shares of the company’s stock valued at $146,000 after buying an additional 9,044 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of European Wax Center by 15.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock worth $836,000 after buying an additional 11,300 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of European Wax Center by 25.7% in the 2nd quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock worth $566,000 after buying an additional 11,650 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in European Wax Center in the 2nd quarter valued at about $127,000. 82.14% of the stock is currently owned by institutional investors and hedge funds.

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.