European Wax Center (NASDAQ:EWCZ) Cut to “Hold” at Truist Financial

Truist Financial cut shares of European Wax Center (NASDAQ:EWCZ) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The brokerage currently has $5.80 target price on the stock, down from their previous target price of $6.00.

Other research analysts have also issued research reports about the stock. Zacks Research raised shares of European Wax Center from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Telsey Advisory Group reissued a “market perform” rating and set a $5.00 price target on shares of European Wax Center in a research report on Tuesday, January 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of European Wax Center in a report on Thursday, January 29th. Morgan Stanley restated an “underweight” rating and issued a $3.75 price objective on shares of European Wax Center in a research report on Thursday, January 15th. Finally, Wall Street Zen raised European Wax Center from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.37.

European Wax Center Price Performance

Shares of EWCZ opened at $5.71 on Tuesday. The stock has a market cap of $310.40 million, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 0.53 and a beta of 1.46. European Wax Center has a 1 year low of $2.72 and a 1 year high of $7.60. The stock’s 50-day moving average price is $4.00 and its two-hundred day moving average price is $4.00. The company has a current ratio of 3.67, a quick ratio of 3.14 and a debt-to-equity ratio of 3.57.

Institutional Investors Weigh In On European Wax Center

Several large investors have recently made changes to their positions in EWCZ. AQR Capital Management LLC lifted its position in European Wax Center by 294.3% in the 1st quarter. AQR Capital Management LLC now owns 223,120 shares of the company’s stock valued at $881,000 after acquiring an additional 166,532 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in European Wax Center by 50.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 505,183 shares of the company’s stock worth $1,995,000 after purchasing an additional 168,900 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of European Wax Center by 8.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 91,284 shares of the company’s stock valued at $514,000 after purchasing an additional 6,887 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of European Wax Center in the second quarter valued at about $60,000. Finally, CWM LLC boosted its position in shares of European Wax Center by 1,275.9% during the second quarter. CWM LLC now owns 14,337 shares of the company’s stock worth $81,000 after buying an additional 13,295 shares during the period. Institutional investors own 82.14% of the company’s stock.

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.