European Wax Center (NASDAQ:EWCZ) Trading Up 4.1%

European Wax Center, Inc. (NASDAQ:EWCZ)’s stock price traded up 4.1% during trading on Tuesday . The stock traded as high as $14.19 and last traded at $14.16. 272,632 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 387,503 shares. The stock had previously closed at $13.60.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler raised shares of European Wax Center from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $22.00 in a report on Thursday, September 21st. Morgan Stanley lowered their price objective on shares of European Wax Center from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 9th. Truist Financial cut their target price on European Wax Center from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Finally, Telsey Advisory Group cut their price objective on European Wax Center from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, November 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.20.

European Wax Center Stock Performance

The firm’s fifty day moving average price is $15.40 and its 200-day moving average price is $17.00. The company has a market cap of $887.91 million, a P/E ratio of 97.14, a P/E/G ratio of 10.18 and a beta of 1.56. The company has a current ratio of 3.76, a quick ratio of 3.00 and a debt-to-equity ratio of 2.74.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EWCZ. Diversified Trust Co raised its position in European Wax Center by 15.0% in the third quarter. Diversified Trust Co now owns 21,395 shares of the company’s stock worth $347,000 after purchasing an additional 2,795 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of European Wax Center by 1.9% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,517,950 shares of the company’s stock valued at $24,591,000 after purchasing an additional 28,425 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of European Wax Center by 26.5% in the 3rd quarter. Legal & General Group Plc now owns 33,699 shares of the company’s stock valued at $546,000 after purchasing an additional 7,060 shares in the last quarter. Advantage Alpha Capital Partners LP grew its holdings in shares of European Wax Center by 30.2% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 170,613 shares of the company’s stock worth $2,764,000 after purchasing an additional 39,563 shares during the last quarter. Finally, Bamco Inc. NY increased its position in shares of European Wax Center by 18.5% during the 3rd quarter. Bamco Inc. NY now owns 4,126,159 shares of the company’s stock worth $66,844,000 after purchasing an additional 642,726 shares in the last quarter. 74.97% of the stock is owned by institutional investors.

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.