Brokerages Set European Wax Center, Inc. (NASDAQ:EWCZ) Price Target at $6.93

European Wax Center, Inc. (NASDAQ:EWCZ) has been given an average rating of “Reduce” by the seven analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $6.9286.

A number of equities analysts have recently issued reports on EWCZ shares. Weiss Ratings began coverage on shares of European Wax Center in a research report on Saturday, November 1st. They set a “sell (d+)” rating on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $5.00 price objective on shares of European Wax Center in a report on Wednesday, November 12th. Finally, Wall Street Zen raised European Wax Center from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th.

Institutional Trading of European Wax Center

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PharVision Advisers LLC bought a new position in shares of European Wax Center in the 3rd quarter valued at about $122,000. Sherbrooke Park Advisers LLC raised its stake in shares of European Wax Center by 179.2% during the third quarter. Sherbrooke Park Advisers LLC now owns 29,484 shares of the company’s stock worth $118,000 after buying an additional 18,923 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in European Wax Center by 38.9% in the third quarter. Qube Research & Technologies Ltd now owns 188,558 shares of the company’s stock valued at $752,000 after buying an additional 52,808 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in European Wax Center in the third quarter valued at approximately $56,000. Finally, Ararat Capital Management LP boosted its stake in European Wax Center by 26.3% in the third quarter. Ararat Capital Management LP now owns 3,114,767 shares of the company’s stock valued at $12,428,000 after acquiring an additional 647,770 shares during the last quarter. 82.14% of the stock is owned by institutional investors.

European Wax Center Stock Down 2.4%

Shares of NASDAQ EWCZ opened at $3.72 on Friday. European Wax Center has a 12-month low of $2.72 and a 12-month high of $7.60. The firm’s 50-day simple moving average is $3.75 and its 200 day simple moving average is $4.43. The company has a quick ratio of 3.14, a current ratio of 3.67 and a debt-to-equity ratio of 3.57. The company has a market cap of $202.22 million, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 0.39 and a beta of 1.45.

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.