Olaplex (NASDAQ:OLPX) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Olaplex (NASDAQ:OLPX) in a research note published on Thursday, Benzinga reports. They currently have a $2.00 target price on the stock.

Other equities analysts have also issued reports about the company. Truist Financial dropped their target price on Olaplex from $7.00 to $3.00 and set a buy rating for the company in a research note on Monday, March 4th. Piper Sandler raised shares of Olaplex from an underweight rating to a neutral rating and upped their price objective for the company from $1.25 to $2.00 in a research note on Tuesday, March 19th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $2.59.

Olaplex Trading Down 1.8 %

Shares of OLPX stock opened at $1.61 on Thursday. The stock has a market cap of $1.06 billion, a P/E ratio of 23.00 and a beta of 2.34. 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 $1.19 and a fifty-two week high of $4.27. The business has a fifty day simple moving average of $1.67 and a 200-day simple moving average of $1.96.

Olaplex (NASDAQ:OLPX) last posted its earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a return on equity of 11.68% and a net margin of 10.91%. The firm had revenue of $98.90 million for the quarter, compared to analyst estimates of $95.15 million. During the same quarter in the prior year, the company earned $0.05 EPS. Olaplex’s revenue was down 13.1% on a year-over-year basis. On average, analysts forecast that Olaplex will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Olaplex

Several institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in Olaplex during the 4th quarter valued at $3,996,000. Pacer Advisors Inc. increased its holdings in Olaplex by 34.8% in the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after buying an additional 2,124,323 shares during the last quarter. Vanguard Group Inc. raised its stake in Olaplex by 8.9% during the third quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock valued at $18,796,000 after buying an additional 787,242 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Olaplex during the 3rd quarter worth approximately $82,000. Finally, Quadrature Capital Ltd grew its position in shares of Olaplex by 34.6% in the 3rd quarter. Quadrature Capital Ltd now owns 74,057 shares of the company’s stock worth $145,000 after acquiring an additional 19,019 shares in the last quarter. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

About Olaplex

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.