Olaplex Holdings, Inc. (NASDAQ:OLPX) Receives Average Recommendation of “Reduce” from Analysts

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have earned an average rating of “Reduce” from the nine research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $3.62.

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group cut Olaplex from a “buy” rating to a “hold” rating and decreased their target price for the stock from $5.00 to $3.00 in a research report on Friday, August 11th. Telsey Advisory Group decreased their target price on Olaplex from $4.00 to $2.00 and set a “market perform” rating for the company in a research report on Wednesday, November 8th. The Goldman Sachs Group decreased 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. Truist Financial decreased their target price on Olaplex from $15.00 to $7.00 in a research report on Wednesday, August 9th. Finally, Barclays raised Olaplex from an “underweight” rating to an “equal weight” rating and set a $2.00 target price for the company in a research report on Wednesday, October 4th.

Institutional Trading of Olaplex

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Treasurer of the State of North Carolina grew its position in Olaplex by 42.3% in the 1st quarter. Treasurer of the State of North Carolina now owns 238,356 shares of the company’s stock worth $1,018,000 after purchasing an additional 70,886 shares during the last quarter. Landscape Capital Management L.L.C. boosted its position in shares of Olaplex by 31.7% during the 1st quarter. Landscape Capital Management L.L.C. now owns 26,833 shares of the company’s stock valued at $115,000 after acquiring an additional 6,466 shares in the last quarter. Royce & Associates LP boosted its position in shares of Olaplex by 53.1% during the 2nd quarter. Royce & Associates LP now owns 43,581 shares of the company’s stock valued at $162,000 after acquiring an additional 15,106 shares in the last quarter. Arizona State Retirement System acquired a new stake in shares of Olaplex during the 2nd quarter valued at about $136,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Olaplex by 151.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 594,638 shares of the company’s stock valued at $542,000 after acquiring an additional 358,336 shares in the last quarter. 90.87% of the stock is currently owned by institutional investors and hedge funds.

Olaplex Trading Down 1.0 %

Shares of NASDAQ OLPX opened at $1.93 on Tuesday. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.14 and a beta of 1.85. The business has a 50 day simple moving average of $1.81 and a 200 day simple moving average of $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 announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $123.60 million during the quarter, compared to analysts’ expectations of $115.98 million. Olaplex had a return on equity of 16.55% and a net margin of 17.00%. The firm’s quarterly revenue was down 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. On average, research analysts predict that Olaplex will post 0.15 earnings per share for the current fiscal year.

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.