Olaplex Holdings, Inc. (NASDAQ:OLPX) Given Average Recommendation of “Hold” by Brokerages

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have been assigned an average rating of “Hold” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $2.59.

A number of analysts have weighed in on the company. Truist Financial cut their price target on Olaplex from $7.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 target price on shares of Olaplex in a research report on Friday, April 5th. Finally, Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and upped their price target for the company from $1.25 to $2.00 in a report on Tuesday, March 19th.

Olaplex Stock Performance

Shares of Olaplex stock opened at $1.49 on Friday. The business has a 50-day simple moving average of $1.92 and a 200-day simple moving average of $2.01. The company has a market cap of $984.53 million, a PE ratio of 16.56 and a beta of 2.28. Olaplex has a one year low of $1.35 and a one year high of $4.30. The company has a debt-to-equity ratio of 0.77, a quick ratio of 9.21 and a current ratio of 10.92.

Olaplex (NASDAQ:OLPX) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. Olaplex had a net margin of 13.44% and a return on equity of 13.09%. The company had revenue of $111.72 million for the quarter, compared to the consensus estimate of $108.29 million. During the same period in the prior year, the firm posted $0.07 EPS. The company’s quarterly revenue was down 14.5% compared to the same quarter last year. On average, equities research analysts forecast that Olaplex will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Olaplex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of Olaplex by 13,198.8% in the 1st quarter. JPMorgan Chase & Co. now owns 227,276 shares of the company’s stock valued at $3,551,000 after acquiring an additional 225,567 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Olaplex in the first quarter valued at $158,000. Citigroup Inc. raised its holdings in shares of Olaplex by 179.3% in the first quarter. Citigroup Inc. now owns 43,136 shares of the company’s stock valued at $674,000 after buying an additional 27,690 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Olaplex during the first quarter worth about $36,000. Finally, Rhumbline Advisers grew its holdings in shares of Olaplex by 2.4% during the first quarter. Rhumbline Advisers now owns 62,830 shares of the company’s stock worth $982,000 after buying an additional 1,456 shares during the last quarter. Hedge funds and other institutional investors own 87.37% of the company’s stock.

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.