Robert W. Baird Has Lowered Expectations for European Wax Center (NASDAQ:EWCZ) Stock Price

European Wax Center (NASDAQ:EWCZ) had its price objective cut by research analysts at Robert W. Baird from $7.00 to $5.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 12.36% from the stock’s previous close.

EWCZ has been the subject of several other reports. Telsey Advisory Group restated a “market perform” rating and issued a $6.00 price objective on shares of European Wax Center in a report on Tuesday. Morgan Stanley restated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research note on Friday, November 15th. Finally, Piper Sandler cut European Wax Center from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $9.00 to $7.00 in a research note on Monday, January 6th. One 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. According to MarketBeat, European Wax Center has a consensus rating of “Hold” and a consensus price target of $6.36.

European Wax Center Trading Down 12.9 %

NASDAQ:EWCZ opened at $4.45 on Wednesday. The company has a 50-day moving average price of $6.52 and a 200-day moving average price of $6.61. The stock has a market cap of $253.40 million, a price-to-earnings ratio of 19.35, a P/E/G ratio of 1.72 and a beta of 0.95. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. European Wax Center has a 12 month low of $2.72 and a 12 month high of $14.64.

Insider Transactions at European Wax Center

In other news, Director Nital P. Scott sold 4,344 shares of European Wax Center stock in a transaction dated 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 owns 29,262 shares of the company’s stock, valued at $171,182.70. The trade was a 12.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.14% of the company’s stock.

Institutional Trading of European Wax Center

Several institutional investors have recently bought and sold shares of EWCZ. D. E. Shaw & Co. Inc. lifted its stake in shares of European Wax Center by 102.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,321,817 shares of the company’s stock worth $8,817,000 after buying an additional 667,723 shares in the last quarter. CenterBook Partners LP lifted its position in European Wax Center by 42.2% in the 4th quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock valued at $11,454,000 after acquiring an additional 509,991 shares in the last quarter. FMR LLC lifted its position in European Wax Center by 18.9% in the 3rd 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 in the last quarter. Highland Peak Capital LLC purchased a new stake in European Wax Center during the 4th quarter valued at $2,745,000. Finally, Woodline Partners LP increased its holdings in shares of European Wax Center by 92.7% in the 4th quarter. Woodline Partners LP now owns 643,755 shares of the company’s stock worth $4,294,000 after purchasing an additional 309,673 shares in the last quarter. 82.14% of the stock is owned by hedge funds and other institutional investors.

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.