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

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPXGet Rating) have been given a consensus recommendation of “Buy” by the fourteen brokerages that are presently covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $28.71.

OLPX has been the subject of a number of research analyst reports. Cowen decreased their target price on Olaplex from $33.00 to $22.00 in a research report on Thursday. Piper Sandler decreased their target price on Olaplex from $36.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, April 19th. Barclays raised Olaplex from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $29.00 to $17.00 in a research report on Wednesday, March 9th. JPMorgan Chase & Co. boosted their target price on Olaplex from $23.00 to $24.00 in a research report on Thursday, April 14th. Finally, Zacks Investment Research raised Olaplex from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Wednesday, April 27th.

Shares of OLPX opened at $12.92 on Friday. Olaplex has a 12 month low of $11.73 and a 12 month high of $30.41. The stock’s 50-day moving average price is $15.01 and its two-hundred day moving average price is $20.88. The company has a quick ratio of 3.25, a current ratio of 4.60 and a debt-to-equity ratio of 1.41.

Olaplex (NASDAQ:OLPXGet Rating) last announced its earnings results on Wednesday, May 11th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. As a group, research analysts anticipate that Olaplex will post 0.54 earnings per share for the current fiscal year.

In related news, CFO Eric Tiziani acquired 20,000 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was purchased at an average cost of $14.78 per share, with a total value of $295,600.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Several hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its position 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 purchasing an additional 1,456 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Olaplex in the first quarter valued at $36,000. CI Investments Inc. grew its position in shares of Olaplex by 1,079.8% in the first quarter. CI Investments Inc. now owns 955,630 shares of the company’s stock valued at $14,936,000 after purchasing an additional 874,630 shares in the last quarter. Citigroup Inc. grew its position in shares of Olaplex by 179.3% in the first quarter. Citigroup Inc. now owns 43,136 shares of the company’s stock valued at $674,000 after purchasing an additional 27,690 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Olaplex in the first quarter valued at $158,000. 91.10% of the stock is owned by institutional investors.

Olaplex Company Profile (Get Rating)

Olaplex Holdings, Inc manufactures and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair. It provides hair care products to professional hair salons, retailers, and everyday consumers. The company was founded in 2014 and is based in Santa Barbara, California.

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Analyst Recommendations for Olaplex (NASDAQ:OLPX)

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