Olaplex Holdings, Inc. (NASDAQ:OLPX) Receives $2.59 Average PT from Brokerages

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $2.59.

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

Olaplex Stock Up 4.7 %

Shares of OLPX opened at $1.35 on Friday. The business’s fifty day moving average price is $1.83 and its two-hundred day moving average price is $1.99. The firm has a market capitalization of $892.84 million, a price-to-earnings ratio of 15.00 and a beta of 2.28. Olaplex has a 52 week low of $1.27 and a 52 week high of $4.27. 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 posted its quarterly earnings results on Thursday, February 29th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $111.72 million for the quarter, compared to analysts’ expectations of $108.29 million. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The firm’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 earnings per share. On average, analysts predict that Olaplex will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Olaplex

Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in Olaplex during the fourth quarter worth about $3,996,000. Pacer Advisors Inc. lifted its holdings in shares of Olaplex by 34.8% during the 4th quarter. Pacer Advisors Inc. now owns 8,232,661 shares of the company’s stock valued at $20,911,000 after purchasing an additional 2,124,323 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Olaplex by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,638,957 shares of the company’s stock valued at $18,796,000 after purchasing an additional 787,242 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of Olaplex in the 3rd quarter valued at approximately $82,000. Finally, Quadrature Capital Ltd increased its stake in Olaplex by 34.6% during the 3rd quarter. Quadrature Capital Ltd now owns 74,057 shares of the company’s stock worth $145,000 after purchasing an additional 19,019 shares in the last quarter. Institutional investors and hedge funds 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.