Olaplex (NASDAQ:OLPX) Receives “Market Perform” Rating from Telsey Advisory Group

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

OLPX has been the topic of several other reports. Truist Financial decreased their target price 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 lifted their price target for the company from $1.25 to $2.00 in a report on Tuesday, March 19th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $2.59.

Olaplex Price Performance

Shares of Olaplex stock opened at $1.34 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92. The firm’s 50-day simple moving average is $1.73 and its 200-day simple moving average is $1.97. Olaplex has a twelve month low of $1.19 and a twelve month high of $4.27. The firm has a market cap of $886.22 million, a P/E ratio of 14.89 and a beta of 2.28.

Olaplex (NASDAQ:OLPX) last issued its earnings results on Thursday, February 29th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The business had revenue of $111.72 million for the quarter, compared to analyst estimates of $108.29 million. During the same period in the previous year, the business earned $0.07 EPS. The firm’s revenue was down 14.5% on a year-over-year basis. As a group, research analysts expect that Olaplex will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Olaplex

Institutional investors and hedge funds have recently modified their holdings of the business. Oak Thistle LLC acquired a new position in Olaplex during the third quarter valued at approximately $25,000. Quadrant Capital Group LLC grew its holdings in Olaplex by 2,108.4% during the fourth quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock valued at $26,000 after purchasing an additional 9,593 shares during the period. Quent Capital LLC grew its holdings in Olaplex by 2,463.8% during the fourth quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock valued at $28,000 after purchasing an additional 10,742 shares during the period. HB Wealth Management LLC acquired a new position in Olaplex during the fourth quarter valued at approximately $35,000. Finally, M&T Bank Corp acquired a new position in shares of Olaplex in the third quarter valued at approximately $36,000. 87.37% of the stock is owned by institutional investors.

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.