European Wax Center (NASDAQ:EWCZ) Coverage Initiated by Analysts at Weiss Ratings

Analysts at Weiss Ratings assumed coverage on shares of European Wax Center (NASDAQ:EWCZ) in a research report issued on Saturday,Weiss Ratings reports. The firm set a “sell (d+)” rating on the stock.

Several other research firms have also issued reports on EWCZ. Robert W. Baird set a $5.50 price target on shares of European Wax Center in a research report on Thursday, August 14th. Wall Street Zen cut shares of European Wax Center from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $5.00 target price on shares of European Wax Center in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $6.93.

European Wax Center Stock Performance

Shares of EWCZ traded down $0.04 during mid-day trading on Friday, hitting $3.87. The stock had a trading volume of 89,666 shares, compared to its average volume of 589,932. The firm has a market cap of $213.43 million, a P/E ratio of 19.33, a PEG ratio of 0.35 and a beta of 1.45. The business has a fifty day moving average price of $3.89 and a 200-day moving average price of $4.50. The company has a debt-to-equity ratio of 3.53, a current ratio of 3.38 and a quick ratio of 2.76. European Wax Center has a 52 week low of $2.72 and a 52 week high of $8.91.

Hedge Funds Weigh In On European Wax Center

A number of institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its position in shares of European Wax Center by 378.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 228,066 shares of the company’s stock valued at $901,000 after purchasing an additional 180,389 shares during the last quarter. Nuveen LLC bought a new position in European Wax Center during the first quarter valued at approximately $361,000. Federated Hermes Inc. bought a new position in European Wax Center during the first quarter valued at approximately $1,543,000. Dynamic Technology Lab Private Ltd bought a new position in European Wax Center during the first quarter valued at approximately $458,000. Finally, Y Intercept Hong Kong Ltd grew its holdings in shares of European Wax Center by 340.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 118,952 shares of the company’s stock valued at $470,000 after purchasing an additional 91,972 shares during the last quarter. 82.14% of the stock is currently owned by institutional investors.

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.