Olaplex (NASDAQ:OLPX) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Olaplex (NASDAQ:OLPX) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $2.00 price target on shares of Olaplex in a report on Friday, November 7th. Wall Street Zen lowered Olaplex from a “hold” rating to a “sell” rating in a research note on Saturday, November 29th. Barclays set a $1.75 target price on Olaplex in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a report on Wednesday, October 8th. Finally, Jefferies Financial Group began coverage on shares of Olaplex in a report on Wednesday, January 14th. They issued a “hold” rating and a $1.50 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1.85.

Olaplex Price Performance

Olaplex stock opened at $1.56 on Wednesday. The company has a fifty day simple moving average of $1.34 and a 200-day simple moving average of $1.33. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 81.00 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 posted its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $114.58 million for the quarter, compared to analyst estimates of $109.77 million. Olaplex had a negative net margin of 1.18% and a positive return on equity of 1.31%. Olaplex’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 earnings per share. On average, equities analysts anticipate that Olaplex will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Olaplex

A number of institutional investors and hedge funds have recently made changes to their positions in OLPX. R Squared Ltd acquired a new stake in Olaplex in the 2nd quarter valued at approximately $25,000. Chilton Capital Management LLC purchased a new position in shares of Olaplex during the third quarter worth $26,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Olaplex during the third quarter worth $30,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Olaplex in the third quarter valued at $32,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Olaplex by 95.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after buying an additional 14,507 shares during the period. 87.37% of the stock is owned by hedge funds and other institutional investors.

Olaplex Company Profile

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.