Analysts Set Olaplex Holdings, Inc. (NASDAQ:OLPX) Target Price at $1.85

Olaplex Holdings, Inc. (NASDAQ:OLPX) has received a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $1.85.

Several analysts have recently commented on the company. Northland Securities began coverage on Olaplex in a research note on Thursday, November 20th. They issued an “outperform” rating and a $2.00 target price for the company. Barclays set a $1.75 price objective on Olaplex in a report on Friday, January 16th. Wall Street Zen upgraded Olaplex from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Research downgraded shares of Olaplex from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Olaplex in a report on Thursday, January 22nd.

Olaplex Stock Performance

NASDAQ:OLPX opened at $1.50 on Thursday. 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 twelve month low of $0.99 and a twelve month high of $1.84. The company has a fifty day moving average of $1.44 and a 200-day moving average of $1.34. The firm has a market capitalization of $1.00 billion, a P/E ratio of 75.00 and a beta of 2.26.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.02 EPS for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $109.77 million. During the same period last year, the company posted $0.04 earnings per share. The business’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Olaplex will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Olaplex

A number of hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC purchased a new stake in shares of Olaplex in the first quarter worth approximately $576,000. Jane Street Group LLC raised its position in Olaplex by 151.8% in the 1st quarter. Jane Street Group LLC now owns 88,321 shares of the company’s stock valued at $112,000 after buying an additional 258,873 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Olaplex by 166.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 59,016 shares of the company’s stock valued at $83,000 after buying an additional 36,887 shares during the last quarter. TD Asset Management Inc boosted its holdings in Olaplex by 14.8% during the 2nd quarter. TD Asset Management Inc now owns 779,630 shares of the company’s stock worth $1,091,000 after acquiring an additional 100,688 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of Olaplex in the 2nd quarter worth $25,000. Institutional investors and hedge funds 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.