European Wax Center, Inc. (NASDAQ:EWCZ) Receives Consensus Recommendation of “Hold” from Brokerages

European Wax Center, Inc. (NASDAQ:EWCZ) has been given an average recommendation of “Hold” by the six research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $6.9286.

EWCZ has been the subject of a number of research reports. Robert W. Baird set a $5.50 price target on shares of European Wax Center in a research report on Thursday, August 14th. Wall Street Zen downgraded shares of European Wax Center from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $5.00 price target on shares of European Wax Center in a research report on Wednesday, August 13th.

European Wax Center Price Performance

EWCZ stock opened at $3.81 on Friday. The firm has a 50 day moving average of $4.29 and a 200-day moving average of $4.51. European Wax Center has a 12-month low of $2.72 and a 12-month high of $8.91. The company has a current ratio of 3.38, a quick ratio of 2.76 and a debt-to-equity ratio of 3.53. The company has a market cap of $210.39 million, a price-to-earnings ratio of 19.05, a PEG ratio of 0.35 and a beta of 1.45.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EWCZ. Virtus Advisers LLC purchased a new position in shares of European Wax Center during the 2nd quarter worth approximately $30,000. Vanguard Personalized Indexing Management LLC purchased a new stake in European Wax Center in the 2nd quarter worth approximately $60,000. Wealth Enhancement Advisory Services LLC purchased a new stake in European Wax Center in the 2nd quarter worth approximately $68,000. CWM LLC grew its stake in European Wax Center by 1,275.9% in the 2nd quarter. CWM LLC now owns 14,337 shares of the company’s stock worth $81,000 after acquiring an additional 13,295 shares during the period. Finally, Royce & Associates LP grew its stake in European Wax Center by 59.3% in the 1st quarter. Royce & Associates LP now owns 23,411 shares of the company’s stock worth $92,000 after acquiring an additional 8,713 shares during the period. 82.14% of the stock is owned by hedge funds and other institutional investors.

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.