Telsey Advisory Group Reiterates “Market Perform” Rating for Olaplex (NASDAQ:OLPX)

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating reissued by stock analysts at Telsey Advisory Group in a research note issued on Tuesday, Benzinga reports. They currently have a $2.00 price objective on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 3.63% from the company’s current price.

Several other research firms also recently commented on OLPX. The Goldman Sachs Group dropped their target price on Olaplex from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, August 9th. Piper Sandler lowered shares of Olaplex from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $3.00 to $2.00 in a report on Friday, August 25th. Morgan Stanley dropped their price target on shares of Olaplex from $3.65 to $2.10 and set an “equal weight” rating for the company in a research note on Thursday, November 9th. Canaccord Genuity Group reissued a “hold” rating and issued a $3.00 price objective (down previously from $5.00) on shares of Olaplex in a research note on Friday, August 11th. Finally, Truist Financial lowered their target price on Olaplex from $15.00 to $7.00 in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.62.

Olaplex Stock Down 1.0 %

Shares of NASDAQ OLPX opened at $1.93 on Tuesday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 16.08, a PEG ratio of 1.14 and a beta of 1.85. The stock’s fifty day moving average is $1.81 and its 200 day moving average is $2.83. Olaplex has a 52 week low of $1.35 and a 52 week high of $7.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 8.68 and a current ratio of 10.69.

Olaplex (NASDAQ:OLPX) last released its earnings results on Tuesday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. Olaplex had a return on equity of 16.55% and a net margin of 17.00%. The firm had revenue of $123.60 million during the quarter, compared to analysts’ expectations of $115.98 million. During the same period in the prior year, the company earned $0.11 earnings per share. The company’s quarterly revenue was down 30.0% on a year-over-year basis. Sell-side analysts forecast that Olaplex will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olaplex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in Olaplex by 1.8% during the first quarter. FMR LLC now owns 38,714,555 shares of the company’s stock worth $165,311,000 after buying an additional 671,915 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Olaplex by 19.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,465,001 shares of the company’s stock worth $189,722,000 after buying an additional 2,193,104 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Olaplex by 6.6% in the third quarter. Vanguard Group Inc. now owns 8,729,396 shares of the company’s stock valued at $83,365,000 after buying an additional 538,084 shares during the period. AQR Capital Management LLC grew its stake in shares of Olaplex by 142.1% during the 1st quarter. AQR Capital Management LLC now owns 5,078,963 shares of the company’s stock worth $20,875,000 after acquiring an additional 2,980,954 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Olaplex by 17.1% in the 2nd quarter. Pacer Advisors Inc. now owns 4,100,831 shares of the company’s stock worth $15,255,000 after acquiring an additional 598,854 shares during the last quarter. Hedge funds and other institutional investors own 90.87% of the company’s stock.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.