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

Olaplex Holdings, Inc. (NASDAQ:OLPX) has been assigned an average rating of “Reduce” from the nine research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $3.62.

Several brokerages recently commented on OLPX. The Goldman Sachs Group reduced their price objective on shares of Olaplex from $6.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. Truist Financial reduced their price objective on shares of Olaplex from $15.00 to $7.00 in a research note on Wednesday, August 9th. Telsey Advisory Group dropped their target price on shares of Olaplex from $4.00 to $2.00 and set a “market perform” rating for the company in a report on Wednesday, November 8th. Canaccord Genuity Group restated a “hold” rating and set a $3.00 target price (down from $5.00) on shares of Olaplex in a report on Friday, August 11th. Finally, Morgan Stanley dropped their target price on shares of Olaplex from $3.65 to $2.10 and set an “equal weight” rating for the company in a report on Thursday, November 9th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OLPX. Oak Thistle LLC acquired a new position in shares of Olaplex during the third quarter worth $25,000. American International Group Inc. lifted its position in shares of Olaplex by 98.6% during the second quarter. American International Group Inc. now owns 1,940 shares of the company’s stock worth $27,000 after purchasing an additional 963 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Olaplex by 156.2% during the second quarter. Captrust Financial Advisors now owns 1,998 shares of the company’s stock worth $28,000 after purchasing an additional 1,218 shares in the last quarter. First Manhattan Co. lifted its position in shares of Olaplex by 6,000.0% during the first quarter. First Manhattan Co. now owns 2,135 shares of the company’s stock worth $33,000 after purchasing an additional 2,100 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in shares of Olaplex during the third quarter worth $36,000. 90.87% of the stock is owned by institutional investors and hedge funds.

Olaplex Stock Down 0.6 %

Shares of NASDAQ OLPX opened at $1.73 on Tuesday. The company has a quick ratio of 8.68, a current ratio of 10.69 and a debt-to-equity ratio of 0.77. Olaplex has a 52 week low of $1.35 and a 52 week high of $7.10. The firm has a 50-day moving average price of $1.87 and a 200 day moving average price of $2.89. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.11 and a beta of 1.85.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. Olaplex had a net margin of 17.00% and a return on equity of 16.55%. The firm had revenue of $123.60 million during the quarter, compared to analysts’ expectations of $115.98 million. During the same quarter last year, the business earned $0.11 earnings per share. The business’s revenue for the quarter was down 30.0% compared to the same quarter last year. Equities research analysts anticipate that Olaplex will post 0.15 EPS for the current fiscal year.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.