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

Olaplex Holdings, Inc. (NASDAQ:OLPX) has been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $2.59.

A number of equities research analysts have issued reports on OLPX shares. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research report on Friday, April 5th. Truist Financial decreased their price target on Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Finally, Piper Sandler raised shares of Olaplex from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $1.25 to $2.00 in a research note on Tuesday, March 19th.

Olaplex Trading Up 0.7 %

Shares of OLPX opened at $1.49 on Friday. The stock has a market capitalization of $984.53 million, a PE ratio of 16.56 and a beta of 2.28. The company’s fifty day moving average is $1.92 and its 200 day moving average is $2.01. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92. Olaplex has a fifty-two week low of $1.35 and a fifty-two week high of $4.30.

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

Institutional Trading of Olaplex

Several institutional investors and hedge funds have recently made changes to their positions in OLPX. Norges Bank purchased a new position in Olaplex in the 4th quarter worth about $18,806,000. Marshall Wace LLP bought a new stake in shares of Olaplex during the fourth quarter valued at approximately $15,920,000. AQR Capital Management LLC boosted its holdings in shares of Olaplex by 142.1% in the first quarter. AQR Capital Management LLC now owns 5,078,963 shares of the company’s stock valued at $20,875,000 after purchasing an additional 2,980,954 shares during the period. Balyasny Asset Management L.P. bought a new position in Olaplex in the fourth quarter worth approximately $6,157,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Olaplex by 19.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,465,001 shares of the company’s stock worth $189,722,000 after purchasing an additional 2,193,104 shares in the last quarter. 87.37% of the stock is currently 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.