European Wax Center (NASDAQ:EWCZ) Rating Lowered to “Market Perform” at Telsey Advisory Group

European Wax Center (NASDAQ:EWCZ) was downgraded by analysts at Telsey Advisory Group from an “outperform” rating to a “market perform” rating in a research report issued on Thursday,Finviz reports. They currently have a $6.00 price objective on the stock. Telsey Advisory Group’s target price suggests a potential upside of 7.91% from the company’s previous close.

A number of other analysts have also weighed in on EWCZ. Morgan Stanley reaffirmed an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a research note on Friday, November 15th. Bank of America lowered their price target on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.36.

European Wax Center Price Performance

Shares of EWCZ stock opened at $5.56 on Thursday. European Wax Center has a twelve month low of $4.80 and a twelve month high of $16.07. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. The stock has a fifty day simple moving average of $6.65 and a two-hundred day simple moving average of $7.80. The stock has a market capitalization of $316.60 million, a price-to-earnings ratio of 24.17, a P/E/G ratio of 2.35 and a beta of 1.01.

Institutional Trading of European Wax Center

Several hedge funds have recently modified their holdings of the company. Dark Forest Capital Management LP purchased a new position in shares of European Wax Center in the 2nd quarter worth approximately $127,000. Algert Global LLC purchased a new stake in European Wax Center during the second quarter valued at approximately $135,000. SG Americas Securities LLC acquired a new stake in European Wax Center in the third quarter valued at approximately $93,000. Royce & Associates LP purchased a new position in European Wax Center in the third quarter worth $108,000. Finally, Aigen Investment Management LP acquired a new position in shares of European Wax Center during the third quarter worth $114,000. 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.