European Wax Center (NASDAQ:EWCZ) Downgraded to Hold Rating by Truist Financial

European Wax Center (NASDAQ:EWCZ) was downgraded by equities researchers at Truist Financial from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday. They presently have a $5.80 price objective on the stock. Truist Financial’s price target points to a potential upside of 1.31% from the company’s current price.

A number of other analysts have also commented on EWCZ. Wall Street Zen upgraded shares of European Wax Center from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Telsey Advisory Group reiterated a “market perform” rating and set a $5.00 price objective on shares of European Wax Center in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (d+)” rating on shares of European Wax Center in a report on Thursday, January 29th. Zacks Research raised shares of European Wax Center from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, Morgan Stanley reissued an “underweight” rating and set a $3.75 price objective on shares of European Wax Center in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.84.

European Wax Center Stock Up 43.1%

European Wax Center stock traded up $1.73 during mid-day trading on Tuesday, reaching $5.73. The stock had a trading volume of 6,313,688 shares, compared to its average volume of 650,189. The firm has a market capitalization of $311.21 million, a PE ratio of 22.02, a price-to-earnings-growth ratio of 0.38 and a beta of 1.46. European Wax Center has a fifty-two week low of $2.72 and a fifty-two week high of $7.60. The stock’s 50-day simple moving average is $3.89 and its 200-day simple moving average is $3.97. The company has a debt-to-equity ratio of 3.57, a quick ratio of 3.14 and a current ratio of 3.67.

Hedge Funds Weigh In On European Wax Center

Hedge funds have recently modified their holdings of the company. Hillsdale Investment Management Inc. boosted its stake in shares of European Wax Center by 1.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,406,661 shares of the company’s stock worth $5,064,000 after buying an additional 16,831 shares during the last quarter. Kazazian Asset Management LLC lifted its holdings in European Wax Center by 2.1% during the fourth quarter. Kazazian Asset Management LLC now owns 342,000 shares of the company’s stock worth $1,231,000 after acquiring an additional 7,000 shares during the period. Legato Capital Management LLC bought a new stake in European Wax Center during the fourth quarter worth $436,000. R Squared Ltd boosted its position in European Wax Center by 159.4% in the fourth quarter. R Squared Ltd now owns 30,486 shares of the company’s stock worth $110,000 after purchasing an additional 18,734 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of European Wax Center during the 4th quarter valued at $40,000. Institutional investors own 82.14% of the company’s stock.

About European Wax Center

European Wax Center is a national provider of hair removal services and related beauty products. The company operates through a network of company-owned and franchised locations, delivering professional waxing treatments for both women and men. Its core service offerings include facial waxing, bikini and Brazilian waxes, arm and leg treatments, back and chest services, and specialized body waxing. In addition to waxing services, European Wax Center markets a range of proprietary retail products such as pre- and post-wax skincare lotions, exfoliating treatments, and moisturizers designed to enhance client comfort and results.

Founded in 2004, European Wax Center introduced a standardized approach to the waxing experience, focusing on consistent training, customer education, and hygienic protocols.