Telsey Advisory Group Reaffirms Market Perform Rating for Olaplex (NASDAQ:OLPX)

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating reissued by equities researchers at Telsey Advisory Group in a research report issued on Friday, Benzinga reports. They presently have a $2.00 price target on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 21.95% from the stock’s previous close.

A number of other research firms have also recently commented on OLPX. Piper Sandler raised shares of Olaplex from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $1.25 to $2.00 in a research report on Tuesday, March 19th. Truist Financial reduced their target price on shares of Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Olaplex has a consensus rating of “Hold” and a consensus target price of $2.59.

Olaplex Trading Down 6.8 %

Shares of OLPX stock opened at $1.64 on Friday. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 18.22 and a beta of 2.28. The company has a quick ratio of 9.21, a current ratio of 10.92 and a debt-to-equity ratio of 0.77. Olaplex has a fifty-two week low of $1.35 and a fifty-two week high of $4.30. The firm’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $2.03.

Olaplex (NASDAQ:OLPX) last posted its earnings results on Thursday, February 29th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The business had revenue of $111.72 million for the quarter, compared to analysts’ expectations of $108.29 million. During the same period in the previous year, the company posted $0.07 earnings per share. The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. On average, analysts anticipate that Olaplex will post 0.14 EPS for the current year.

Institutional Trading of Olaplex

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new stake in Olaplex during the fourth quarter valued at $3,996,000. Pacer Advisors Inc. increased its stake in Olaplex by 34.8% during the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after purchasing an additional 2,124,323 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Olaplex during the third quarter valued at $82,000. Quadrature Capital Ltd increased its stake in Olaplex by 34.6% during the third quarter. Quadrature Capital Ltd now owns 74,057 shares of the company’s stock valued at $145,000 after purchasing an additional 19,019 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Olaplex by 579.2% during the third quarter. Panagora Asset Management Inc. now owns 296,499 shares of the company’s stock valued at $578,000 after purchasing an additional 252,848 shares during the last quarter. Institutional investors own 87.37% of the company’s stock.

Olaplex Company Profile

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