Olaplex Holdings, Inc. (NASDAQ:OLPX) Receives $1.81 Average Target Price from Analysts

Olaplex Holdings, Inc. (NASDAQ:OLPX) has earned a consensus recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $1.8125.

OLPX has been the topic of several research analyst reports. Northland Securities initiated coverage on Olaplex in a research note on Thursday, November 20th. They set an “outperform” rating and a $2.00 price target on the stock. Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Northland Capmk upgraded shares of Olaplex to a “strong-buy” rating in a research note on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a report on Wednesday, October 8th. Finally, Barclays reduced their target price on shares of Olaplex from $1.50 to $1.25 and set an “equal weight” rating for the company in a report on Monday, November 10th.

Olaplex Stock Performance

Shares of Olaplex stock opened at $1.65 on Friday. The company has a 50 day moving average price of $1.26 and a 200 day moving average price of $1.33. The firm has a market capitalization of $1.10 billion, a P/E ratio of 82.00 and a beta of 2.25. The company has a quick ratio of 3.52, a current ratio of 4.16 and a debt-to-equity ratio of 0.40. Olaplex has a 52 week low of $0.99 and a 52 week high of $1.84.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. Olaplex had a negative net margin of 1.18% and a positive return on equity of 1.31%. The business had revenue of $114.58 million for the quarter, compared to analyst estimates of $109.77 million. During the same quarter in the prior year, the business posted $0.04 EPS. Olaplex’s revenue for the quarter was down 3.8% compared to the same quarter last year. Sell-side analysts expect that Olaplex will post 0.1 EPS for the current year.

Institutional Trading of Olaplex

A number of hedge funds have recently modified their holdings of OLPX. R Squared Ltd acquired a new stake in shares of Olaplex in the second quarter valued at about $25,000. Chilton Capital Management LLC purchased a new position in Olaplex in the 3rd quarter valued at about $26,000. Schonfeld Strategic Advisors LLC acquired a new stake in Olaplex in the 3rd quarter worth about $30,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Olaplex in the 3rd quarter worth about $32,000. Finally, BNP Paribas Financial Markets increased its stake in Olaplex by 95.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock worth $39,000 after buying an additional 14,507 shares in the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

About Olaplex

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.