European Wax Center (NASDAQ:EWCZ) Receives “Underweight” Rating from Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of European Wax Center (NASDAQ:EWCZ) in a research note published on Friday morning, Marketbeat reports. They currently have a $5.00 target price on the stock.

EWCZ has been the topic of several other reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $8.00 target price on shares of European Wax Center in a research note on Thursday, November 14th. Robert W. Baird reduced their price objective on European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Truist Financial decreased their target price on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Bank of America cut their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Finally, Citigroup cut European Wax Center from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.64.

European Wax Center Stock Performance

NASDAQ EWCZ opened at $5.50 on Friday. The company has a debt-to-equity ratio of 3.18, a current ratio of 3.49 and a quick ratio of 2.72. The company has a market cap of $329.89 million, a P/E ratio of 23.91, a P/E/G ratio of 2.00 and a beta of 1.11. The stock has a 50-day moving average of $7.06 and a two-hundred day moving average of $8.56. European Wax Center has a 1-year low of $4.80 and a 1-year high of $16.07.

Hedge Funds Weigh In On European Wax Center

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of European Wax Center during the 3rd quarter worth approximately $93,000. Royce & Associates LP purchased a new stake in European Wax Center in the third quarter valued at $108,000. Aigen Investment Management LP acquired a new position in European Wax Center in the third quarter valued at $114,000. Dark Forest Capital Management LP purchased a new position in shares of European Wax Center during the second quarter worth about $127,000. Finally, Algert Global LLC acquired a new stake in shares of European Wax Center during the second quarter worth about $135,000. 82.14% of the stock is owned by institutional investors and hedge funds.

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.