Olaplex (NASDAQ:OLPX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Olaplex (NASDAQ:OLPX) from a sell rating to a hold rating in a report published on Saturday.

Other analysts have also recently issued research reports about the stock. Northland Securities assumed coverage on shares of Olaplex in a report on Thursday, November 20th. They set an “outperform” rating and a $2.00 price target for the company. Zacks Research lowered Olaplex from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Jefferies Financial Group initiated coverage on Olaplex in a research report on Wednesday, January 14th. They issued a “hold” rating and a $1.50 target price for the company. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price target on shares of Olaplex in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $1.85.

Olaplex Stock Performance

NASDAQ:OLPX opened at $1.50 on Friday. Olaplex has a twelve month low of $0.99 and a twelve month high of $1.84. The company has a quick ratio of 3.52, a current ratio of 4.16 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $1.44 and its 200 day simple moving average is $1.34. The firm has a market capitalization of $1.00 billion, a PE ratio of 75.00 and a beta of 2.26.

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 negative net margin of 1.18% and a positive return on equity of 1.31%. The firm had revenue of $114.58 million during the quarter, compared to analysts’ expectations of $109.77 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, analysts anticipate that Olaplex will post 0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Portolan Capital Management LLC increased its position in shares of Olaplex by 132.6% during the third quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock worth $4,762,000 after buying an additional 2,072,383 shares during the period. Ninety One UK Ltd grew its holdings in Olaplex by 4.1% during the 4th quarter. Ninety One UK Ltd now owns 3,525,027 shares of the company’s stock worth $4,724,000 after acquiring an additional 139,109 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Olaplex by 2.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 2,684,791 shares of the company’s stock worth $3,517,000 after acquiring an additional 55,652 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Olaplex by 1,314.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,508,013 shares of the company’s stock valued at $2,111,000 after purchasing an additional 1,401,369 shares during the period. Finally, UBS Group AG boosted its position in shares of Olaplex by 45.4% during the 3rd quarter. UBS Group AG now owns 1,203,307 shares of the company’s stock valued at $1,576,000 after purchasing an additional 375,867 shares in the last quarter. 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.