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

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $2.59.

OLPX has been the topic of a number of recent research reports. Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $1.25 to $2.00 in a research note on Tuesday, March 19th. Truist Financial cut their price objective 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. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a report on Thursday, May 2nd.

Institutional Investors Weigh In On Olaplex

Several institutional investors and hedge funds have recently added to or reduced their stakes in OLPX. Vanguard Group Inc. lifted its holdings in shares of Olaplex by 8.9% during the 3rd quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock valued at $18,796,000 after buying an additional 787,242 shares during the period. Pacer Advisors Inc. lifted its holdings in Olaplex by 34.8% in the fourth quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after acquiring an additional 2,124,323 shares during the period. State of Alaska Department of Revenue purchased a new position in Olaplex in the fourth quarter worth about $3,996,000. Hsbc Holdings PLC grew its stake in shares of Olaplex by 86.5% during the 3rd quarter. Hsbc Holdings PLC now owns 627,989 shares of the company’s stock valued at $1,221,000 after purchasing an additional 291,191 shares during the period. Finally, Sanders Morris Harris LLC purchased a new stake in shares of Olaplex during the 1st quarter valued at about $660,000. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Olaplex Price Performance

Shares of NASDAQ:OLPX opened at $1.61 on Tuesday. The firm has a market capitalization of $1.06 billion, a P/E ratio of 23.00 and a beta of 2.34. 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 stock has a 50 day moving average price of $1.67 and a 200-day moving average price of $1.97. Olaplex has a 52-week low of $1.19 and a 52-week high of $4.27.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $98.90 million during the quarter, compared to analysts’ expectations of $95.15 million. Olaplex had a net margin of 10.91% and a return on equity of 11.68%. Olaplex’s revenue was down 13.1% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS. As a group, equities research analysts anticipate that Olaplex will post 0.14 EPS for the current fiscal year.

Olaplex Company Profile

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.