Olaplex (NASDAQ:OLPX) PT Lowered to $3.25

Olaplex (NASDAQ:OLPX – Get Rating) had its price objective cut by research analysts at Bank of America from $4.00 to $3.25 in a research note issued on Wednesday, The Fly reports. Bank of America‘s price objective points to a potential downside of 3.56% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. TD Cowen downgraded Olaplex from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $10.00 to $4.50 in a report on Thursday, March 16th. Telsey Advisory Group dropped their target price on shares of Olaplex from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday, March 1st. Morgan Stanley lowered their target price on shares of Olaplex from $6.00 to $5.50 and set an “equal weight” rating on the stock in a report on Tuesday, March 7th. Truist Financial increased their price target on shares of Olaplex from $10.00 to $15.00 in a research report on Friday, March 3rd. Finally, Piper Sandler cut their price target on shares of Olaplex from $5.00 to $4.00 in a report on Thursday, March 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.66.

Olaplex Trading Down 5.1 %

Shares of OLPX opened at $3.37 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 6.86 and a current ratio of 9.48. The stock has a 50-day moving average price of $3.95 and a 200 day moving average price of $4.99. Olaplex has a one year low of $3.27 and a one year high of $18.23. The company has a market capitalization of $2.20 billion, a P/E ratio of 9.36, a P/E/G ratio of 1.34 and a beta of 1.55.

Olaplex (NASDAQ:OLPX – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $113.79 million for the quarter, compared to analysts’ expectations of $110.19 million. Olaplex had a return on equity of 44.03% and a net margin of 34.66%. The firm’s revenue for the quarter was down 38.9% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. Sell-side analysts forecast that Olaplex will post 0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Olaplex

A number of institutional investors have recently made changes to their positions in OLPX. American International Group Inc. raised its position in Olaplex by 98.6% during the second quarter. American International Group Inc. now owns 1,940 shares of the company’s stock valued at $27,000 after buying an additional 963 shares during the period. Captrust Financial Advisors raised its holdings in shares of Olaplex by 156.2% in the 2nd quarter. Captrust Financial Advisors now owns 1,998 shares of the company’s stock worth $28,000 after buying an additional 1,218 shares in the last quarter. First Manhattan Co. increased its holdings in Olaplex by 6,000.0% during the 1st quarter. First Manhattan Co. now owns 2,135 shares of the company’s stock valued at $33,000 after purchasing an additional 2,100 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Olaplex during the 1st quarter valued at $36,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Olaplex by 666.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,181 shares of the company’s stock valued at $50,000 after buying an additional 4,505 shares during the period. 91.50% of the stock is currently owned by institutional investors.

About Olaplex

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Olaplex Holdings, Inc manufactures and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair. It provides hair care products to professional hair salons, retailers, and everyday consumers. The company was founded in 2014 and is based in Santa Barbara, California.