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

Olaplex (NASDAQ:OLPX) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

OLPX has been the topic of a number of other reports. Wall Street Zen lowered shares of Olaplex from a “hold” rating to a “sell” rating in a research report on Saturday, November 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a report on Wednesday, October 8th. Barclays set a $1.75 price target on Olaplex in a research report on Friday, January 16th. Jefferies Financial Group assumed coverage on Olaplex in a research note on Wednesday, January 14th. They issued a “hold” rating and a $1.50 target price on the stock. Finally, Northland Securities started coverage on Olaplex in a research note on Thursday, November 20th. They set an “outperform” rating and a $2.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $1.85.

Olaplex Price Performance

Shares of OLPX opened at $1.62 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.16 and a quick ratio of 3.52. Olaplex has a 1-year low of $0.99 and a 1-year high of $1.84. The stock has a market cap of $1.08 billion, a PE ratio of 79.50 and a beta of 2.25. The firm has a fifty day moving average price of $1.33 and a 200 day moving average price of $1.33.

Olaplex (NASDAQ:OLPX) last posted its 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 positive return on equity of 1.31% and a negative net margin of 1.18%.The business had revenue of $114.58 million for the quarter, compared to analysts’ expectations of $109.77 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Olaplex will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ninety One UK Ltd increased its position in shares of Olaplex by 18.5% in the second quarter. Ninety One UK Ltd now owns 3,333,055 shares of the company’s stock valued at $4,666,000 after buying an additional 520,011 shares in the last quarter. TD Asset Management Inc increased 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 valued at $1,091,000 after acquiring an additional 100,688 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Olaplex during the 2nd quarter valued at about $75,000. Vanguard Personalized Indexing Management LLC raised its position in Olaplex by 166.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 59,016 shares of the company’s stock worth $83,000 after acquiring an additional 36,887 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in shares of Olaplex by 139.9% in the second quarter. Dynamic Technology Lab Private Ltd now owns 93,933 shares of the company’s stock valued at $132,000 after purchasing an additional 54,781 shares in the last quarter. 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.