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

European Wax Center (NASDAQ:EWCZ) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They presently have a $7.00 price objective on the stock, down from their previous price objective of $9.00. Piper Sandler’s price objective suggests a potential upside of 10.24% from the stock’s previous close.

Several other analysts have also issued reports on the company. Telsey Advisory Group lowered European Wax Center from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $8.00 to $6.00 in a research note on Thursday, December 19th. Morgan Stanley restated an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a research note on Friday, November 15th. One 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 stock. Based on data from MarketBeat, European Wax Center has a consensus rating of “Hold” and an average price target of $6.64.

European Wax Center Trading Up 3.8 %

Shares of EWCZ stock opened at $6.35 on Monday. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The firm has a market cap of $361.59 million, a P/E ratio of 27.61, a PEG ratio of 2.35 and a beta of 0.95. The company has a 50 day moving average of $6.39 and a 200-day moving average of $7.25. European Wax Center has a 12-month low of $4.80 and a 12-month high of $16.07.

Insiders Place Their Bets

In related news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total transaction of $25,412.40. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in European Wax Center by 25.7% during the second 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. Massachusetts Financial Services Co. MA boosted its position in shares of European Wax Center by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company’s stock valued at $31,564,000 after acquiring an additional 81,704 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of European Wax Center by 15.5% during the second quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock worth $836,000 after purchasing an additional 11,300 shares in the last quarter. Marshall Wace LLP bought a new position in shares of European Wax Center in the second quarter worth approximately $3,274,000. Finally, Squarepoint Ops LLC raised its stake in European Wax Center by 194.3% in the second quarter. Squarepoint Ops LLC now owns 37,429 shares of the company’s stock valued at $372,000 after purchasing an additional 24,712 shares in the last quarter. Institutional investors own 82.14% of the company’s stock.

European Wax Center Company Profile

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.