Truist Financial Has Lowered Expectations for European Wax Center (NASDAQ:EWCZ) Stock Price

European Wax Center (NASDAQ:EWCZ) had its price objective reduced by research analysts at Truist Financial from $6.00 to $5.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 30.21% from the company’s previous close.

EWCZ has been the topic of a number of other reports. Morgan Stanley reduced their price objective on shares of European Wax Center from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 12th. Robert W. Baird dropped their price target on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 target price on shares of European Wax Center in a research report on Tuesday, March 11th. Piper Sandler lowered European Wax Center from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $9.00 to $7.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group set a $15.00 price target on shares of European Wax Center in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.94.

European Wax Center Stock Up 16.7 %

Shares of NASDAQ EWCZ opened at $3.84 on Tuesday. 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’s fifty day moving average is $5.32 and its 200 day moving average is $6.14. The company has a market cap of $212.53 million, a price-to-earnings ratio of 16.70, a PEG ratio of 1.72 and a beta of 1.15. European Wax Center has a 52 week low of $2.72 and a 52 week high of $12.14.

Institutional Investors Weigh In On European Wax Center

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EWCZ. D. E. Shaw & Co. Inc. boosted its stake in European Wax Center by 102.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,321,817 shares of the company’s stock worth $8,817,000 after purchasing an additional 667,723 shares during the period. CenterBook Partners LP lifted its position in European Wax Center by 42.2% in the fourth quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock worth $11,454,000 after buying an additional 509,991 shares during the last quarter. FMR LLC lifted its position in European Wax Center by 18.9% in the third quarter. FMR LLC now owns 2,697,742 shares of the company’s stock worth $18,345,000 after buying an additional 428,280 shares during the last quarter. Highland Peak Capital LLC purchased a new stake in European Wax Center in the fourth quarter worth $2,745,000. Finally, Woodline Partners LP increased its stake in European Wax Center by 92.7% in the fourth 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 during the period. 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.