Wall Street Zen Upgrades Olaplex (NASDAQ:OLPX) to Hold

Olaplex (NASDAQ:OLPX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other research firms also recently issued reports on OLPX. Weiss Ratings reissued a “sell (d)” rating on shares of Olaplex in a research report on Thursday, January 22nd. Jefferies Financial Group began coverage on Olaplex in a research note on Wednesday, January 14th. They issued a “hold” rating and a $1.50 price objective on the stock. Barclays set a $1.75 target price on shares of Olaplex in a research report on Friday, January 16th. Telsey Advisory Group restated a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a report on Friday, November 7th. Finally, Zacks Research cut shares of Olaplex from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $1.85.

Olaplex Price Performance

Olaplex stock opened at $1.50 on Friday. Olaplex has a 1 year low of $0.99 and a 1 year high of $1.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.52 and a current ratio of 4.16. The firm has a 50 day moving average price of $1.44 and a 200 day moving average price of $1.34. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 75.00 and a beta of 2.26.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. Olaplex had a negative net margin of 1.18% and a positive return on equity of 1.31%. The company had revenue of $114.58 million for the quarter, compared to analyst estimates of $109.77 million. During the same quarter last year, the business earned $0.04 EPS. Olaplex’s revenue for the quarter was down 3.8% on a year-over-year basis. Sell-side analysts predict that Olaplex will post 0.1 earnings per share for the current year.

Institutional Trading of Olaplex

Hedge funds have recently made changes to their positions in the company. Portolan Capital Management LLC boosted its stake in shares of Olaplex by 132.6% in the third quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock valued at $4,762,000 after purchasing an additional 2,072,383 shares during the period. Balyasny Asset Management L.P. lifted its holdings in Olaplex by 1,314.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,508,013 shares of the company’s stock worth $2,111,000 after buying an additional 1,401,369 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in Olaplex by 56.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 2,629,139 shares of the company’s stock valued at $3,681,000 after buying an additional 946,265 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Olaplex by 242,052.7% during the third quarter. Russell Investments Group Ltd. now owns 496,413 shares of the company’s stock valued at $650,000 after acquiring an additional 496,208 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Olaplex by 536.1% during the second quarter. Jane Street Group LLC now owns 561,806 shares of the company’s stock worth $787,000 after acquiring an additional 473,485 shares during the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Olaplex Company Profile

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.