European Wax Center (NASDAQ:EWCZ) Downgraded by Truist Financial to “Hold”

European Wax Center (NASDAQ:EWCZ) was downgraded by Truist Financial from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday. They presently have a $5.80 price target on the stock. Truist Financial’s price objective points to a potential upside of 1.31% from the company’s current price.

Several other equities research analysts have also weighed in on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $5.00 price objective on shares of European Wax Center in a report on Tuesday, January 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of European Wax Center in a research report on Thursday, January 29th. Morgan Stanley reiterated an “underweight” rating and issued a $3.75 target price on shares of European Wax Center in a research note on Thursday, January 15th. Zacks Research upgraded shares of European Wax Center from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Finally, Wall Street Zen upgraded shares of European Wax Center from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, European Wax Center presently has an average rating of “Hold” and a consensus price target of $6.84.

European Wax Center Stock Performance

European Wax Center stock traded up $1.73 during trading on Tuesday, hitting $5.73. The stock had a trading volume of 6,313,688 shares, compared to its average volume of 650,189. The stock’s 50 day moving average is $3.89 and its two-hundred day moving average is $3.97. European Wax Center has a 1 year low of $2.72 and a 1 year high of $7.60. The stock has a market cap of $311.21 million, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 0.38 and a beta of 1.46. The company has a quick ratio of 3.14, a current ratio of 3.67 and a debt-to-equity ratio of 3.57.

Hedge Funds Weigh In On European Wax Center

A number of institutional investors have recently added to or reduced their stakes in the business. Ararat Capital Management LP raised its holdings in shares of European Wax Center by 26.3% in the 3rd quarter. Ararat Capital Management LP now owns 3,114,767 shares of the company’s stock valued at $12,428,000 after acquiring an additional 647,770 shares in the last quarter. MIG Capital LLC raised its stake in European Wax Center by 65.8% in the second quarter. MIG Capital LLC now owns 2,057,186 shares of the company’s stock valued at $11,582,000 after purchasing an additional 816,657 shares in the last quarter. Vanguard Group Inc. raised its stake in European Wax Center by 3.7% in the third quarter. Vanguard Group Inc. now owns 1,902,378 shares of the company’s stock valued at $7,590,000 after purchasing an additional 67,542 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in European Wax Center by 1.2% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,406,661 shares of the company’s stock valued at $5,064,000 after purchasing an additional 16,831 shares during the last quarter. Finally, CenterBook Partners LP grew its stake in European Wax Center by 14.1% in the 2nd quarter. CenterBook Partners LP now owns 814,171 shares of the company’s stock worth $4,584,000 after buying an additional 100,455 shares in the last quarter. 82.14% of the stock is currently owned by institutional investors.

About European Wax Center

European Wax Center is a national provider of hair removal services and related beauty products. The company operates through a network of company-owned and franchised locations, delivering professional waxing treatments for both women and men. Its core service offerings include facial waxing, bikini and Brazilian waxes, arm and leg treatments, back and chest services, and specialized body waxing. In addition to waxing services, European Wax Center markets a range of proprietary retail products such as pre- and post-wax skincare lotions, exfoliating treatments, and moisturizers designed to enhance client comfort and results.

Founded in 2004, European Wax Center introduced a standardized approach to the waxing experience, focusing on consistent training, customer education, and hygienic protocols.