Olaplex (NASDAQ:OLPX) Shares Gap Up Following Analyst Upgrade

Olaplex Holdings, Inc. (NASDAQ:OLPX)’s stock price gapped up before the market opened on Monday after Canaccord Genuity Group upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $1.40, but opened at $1.50. Canaccord Genuity Group now has a $2.00 price target on the stock, up from their previous price target of $1.50. Olaplex shares last traded at $1.64, with a volume of 1,576,118 shares.

A number of other research analysts have also recently weighed in on OLPX. Barclays lifted their price target on shares of Olaplex from $1.40 to $1.50 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Olaplex from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1.88.

Hedge Funds Weigh In On Olaplex

Large investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its position in shares of Olaplex by 12.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 27,567,214 shares of the company’s stock worth $35,011,000 after buying an additional 3,066,614 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Olaplex by 162.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,316,519 shares of the company’s stock worth $4,008,000 after acquiring an additional 1,432,400 shares during the period. Balyasny Asset Management L.P. lifted its holdings in Olaplex by 1,314.1% in the second quarter. Balyasny Asset Management L.P. now owns 1,508,013 shares of the company’s stock worth $2,111,000 after acquiring an additional 1,401,369 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in Olaplex by 56.2% in the second quarter. Bridgeway Capital Management LLC now owns 2,629,139 shares of the company’s stock valued at $3,681,000 after acquiring an additional 946,265 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Olaplex by 620.8% during the fourth quarter. Marshall Wace LLP now owns 1,001,339 shares of the company’s stock valued at $1,732,000 after purchasing an additional 862,419 shares during the last quarter. Institutional investors own 87.37% of the company’s stock.

Olaplex Price Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 3.86 and a quick ratio of 3.20. The company has a fifty day moving average price of $1.45 and a 200 day moving average price of $1.37. The company has a market capitalization of $1.03 billion, a P/E ratio of 35.00 and a beta of 2.33.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The company had revenue of $106.28 million for the quarter, compared to analyst estimates of $100.30 million. Olaplex had a negative net margin of 0.30% and a positive return on equity of 3.32%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. Olaplex has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

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.