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

Olaplex Holdings, Inc. (NASDAQ:OLPX) has been given a consensus recommendation of “Reduce” by the nine ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $3.62.

A number of research firms recently issued reports on OLPX. Morgan Stanley lowered their target price on Olaplex from $3.65 to $2.10 and set an “equal weight” rating on the stock in a research report on Thursday, November 9th. Barclays raised Olaplex from an “underweight” rating to an “equal weight” rating and set a $2.00 price target on the stock in a research report on Wednesday, October 4th. The Goldman Sachs Group lowered their price target on Olaplex from $6.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Canaccord Genuity Group reissued a “hold” rating and set a $3.00 price target (down previously from $5.00) on shares of Olaplex in a research report on Friday, August 11th. Finally, Canaccord Genuity Group downgraded Olaplex from a “buy” rating to a “hold” rating and lowered their price target for the stock from $5.00 to $3.00 in a research report on Friday, August 11th.

Olaplex Price Performance

NASDAQ:OLPX opened at $1.93 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 8.68 and a current ratio of 10.69. The stock’s 50-day simple moving average is $1.81 and its 200 day simple moving average is $2.83. The company has a market cap of $1.26 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.14 and a beta of 1.85. Olaplex has a 52-week low of $1.35 and a 52-week high of $7.10.

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

Institutional Investors Weigh In On Olaplex

A number of institutional investors have recently made changes to their positions in the company. American International Group Inc. boosted its holdings in shares of Olaplex by 98.6% during the second quarter. American International Group Inc. now owns 1,940 shares of the company’s stock worth $27,000 after acquiring an additional 963 shares during the period. Captrust Financial Advisors boosted its stake in shares of Olaplex by 156.2% in the second quarter. Captrust Financial Advisors now owns 1,998 shares of the company’s stock valued at $28,000 after buying an additional 1,218 shares during the period. Rhumbline Advisers boosted its stake in shares of Olaplex by 2.4% in the first quarter. Rhumbline Advisers now owns 62,830 shares of the company’s stock valued at $982,000 after buying an additional 1,456 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Olaplex by 26.4% in the fourth quarter. Wells Fargo & Company MN now owns 8,345 shares of the company’s stock valued at $43,000 after buying an additional 1,744 shares during the period. Finally, First Manhattan Co. boosted its stake in shares of Olaplex by 6,000.0% in the first quarter. First Manhattan Co. now owns 2,135 shares of the company’s stock valued at $33,000 after buying an additional 2,100 shares during the period. Institutional investors own 90.87% of the company’s stock.

Olaplex Company Profile

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.