Royce & Associates LP bought a new position in shares of European Wax Center, Inc. (NASDAQ:EWCZ – Free Report) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 15,828 shares of the company’s stock, valued at approximately $108,000.
Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in European Wax Center by 78.3% during the 3rd quarter. Victory Capital Management Inc. now owns 101,653 shares of the company’s stock worth $691,000 after buying an additional 44,653 shares during the period. Aigen Investment Management LP bought a new position in European Wax Center during the third quarter worth about $114,000. Olympiad Research LP acquired a new stake in European Wax Center in the 3rd quarter worth about $157,000. Creative Planning boosted its holdings in European Wax Center by 72.6% in the 3rd quarter. Creative Planning now owns 21,501 shares of the company’s stock valued at $146,000 after purchasing an additional 9,044 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of European Wax Center during the 3rd quarter worth approximately $93,000. 82.14% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently issued reports on EWCZ. Bank of America cut their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Citigroup lowered European Wax Center from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $5.50 in a report on Thursday, August 15th. Robert W. Baird dropped their price target on European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $8.00 price objective on shares of European Wax Center in a research report on Thursday, November 14th. Finally, Morgan Stanley restated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.64.
European Wax Center Stock Performance
European Wax Center stock opened at $5.71 on Thursday. The stock has a market cap of $342.49 million, a PE ratio of 24.83, a P/E/G ratio of 2.00 and a beta of 1.11. The company has a quick ratio of 2.72, a current ratio of 3.49 and a debt-to-equity ratio of 3.18. European Wax Center, Inc. has a 12-month low of $4.80 and a 12-month high of $16.07. The business’s 50-day moving average price is $7.03 and its two-hundred day moving average price is $8.50.
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.
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