Olaplex’s (OLPX) “Market Perform” Rating Reiterated at Telsey Advisory Group

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

Several other brokerages also recently weighed in on OLPX. Truist Financial cut their price objective 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. Piper Sandler raised shares of Olaplex from an underweight rating to a neutral rating and upped their price target for the stock from $1.25 to $2.00 in a research note on Tuesday, March 19th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Olaplex has an average rating of Hold and a consensus price target of $2.59.

Olaplex Stock Down 1.8 %

NASDAQ:OLPX traded down $0.03 during mid-day trading on Thursday, hitting $1.61. The company had a trading volume of 1,534,299 shares, compared to its average volume of 2,190,349. The business has a fifty day simple moving average of $1.67 and a 200-day simple moving average of $1.96. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 23.00 and a beta of 2.34. Olaplex has a 1 year low of $1.19 and a 1 year high of $4.27. The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77.

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

Institutional Trading of Olaplex

Hedge funds and other institutional investors have recently modified their holdings of the business. Catalina Capital Group LLC acquired a new stake in shares of Olaplex during the first quarter worth approximately $31,000. Norden Group LLC acquired a new position in shares of Olaplex in the first quarter worth $70,000. HB Wealth Management LLC raised its holdings in shares of Olaplex by 115.0% during the first quarter. HB Wealth Management LLC now owns 29,575 shares of the company’s stock worth $57,000 after acquiring an additional 15,821 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in Olaplex during the first quarter valued at $55,000. Finally, Sanders Morris Harris LLC acquired a new position in Olaplex in the 1st quarter worth about $660,000. Institutional investors and hedge funds own 87.37% of the company’s stock.

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.