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

Olaplex Holdings, Inc. (NASDAQ:OLPX) has been assigned an average rating of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $2.18.

OLPX has been the topic of several research reports. TD Cowen boosted their price target on shares of Olaplex from $1.80 to $2.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a report on Tuesday, August 6th.

Olaplex Price Performance

Shares of Olaplex stock opened at $2.42 on Monday. The company has a current ratio of 9.27, a quick ratio of 7.85 and a debt-to-equity ratio of 0.75. The company’s 50-day moving average price is $1.99 and its two-hundred day moving average price is $1.77. Olaplex has a 52 week low of $1.19 and a 52 week high of $2.98. The stock has a market cap of $1.60 billion, a PE ratio of 34.57 and a beta of 2.42.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. Olaplex had a net margin of 10.95% and a return on equity of 11.16%. The firm had revenue of $103.90 million for the quarter, compared to analysts’ expectations of $103.65 million. During the same period in the previous year, the business earned $0.03 earnings per share. Olaplex’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Olaplex will post 0.14 EPS for the current fiscal year.

Insider Activity

In other Olaplex news, Director John P. Bilbrey bought 183,493 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were bought at an average price of $2.05 per share, for a total transaction of $376,160.65. Following the acquisition, the director now directly owns 241,593 shares of the company’s stock, valued at $495,265.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Olaplex

A number of large investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Olaplex in the 2nd quarter valued at about $33,000. Algert Global LLC acquired a new position in shares of Olaplex in the 2nd quarter valued at about $87,000. Scion Asset Management LLC acquired a new position in shares of Olaplex in the 2nd quarter valued at about $1,533,000. The Manufacturers Life Insurance Company increased its holdings in shares of Olaplex by 126.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 80,843 shares of the company’s stock valued at $124,000 after purchasing an additional 45,133 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Olaplex by 20.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,073,878 shares of the company’s stock valued at $1,654,000 after purchasing an additional 184,091 shares during the period. 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.