Olaplex (NASDAQ:OLPX) Rating Reiterated by Telsey Advisory Group

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating reiterated by research analysts at Telsey Advisory Group in a research note issued on Friday, Benzinga reports. They presently have a $2.00 price target on the stock. Telsey Advisory Group’s price target would suggest a potential upside of 21.21% from the stock’s current price.

Separately, Piper Sandler upgraded shares of Olaplex from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $1.25 to $2.00 in a research report on Tuesday, March 19th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.51.

Olaplex Price Performance

Shares of Olaplex stock opened at $1.65 on Friday. The company has a quick ratio of 9.12, a current ratio of 10.71 and a debt-to-equity ratio of 0.76. Olaplex has a twelve month low of $1.19 and a twelve month high of $4.26. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 23.57 and a beta of 2.41. The company’s 50 day moving average is $1.63 and its 200 day moving average is $1.84.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Olaplex had a net margin of 10.91% and a return on equity of 11.61%. The business had revenue of $98.90 million for the quarter, compared to the consensus estimate of $95.15 million. During the same period last year, the firm earned $0.05 earnings per share. The company’s quarterly revenue was down 13.1% on a year-over-year basis. Research analysts anticipate that Olaplex will post 0.14 EPS for the current year.

Insider Activity

In other news, VP Kristi A. Belhumeur sold 42,480 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $1.68, for a total transaction of $71,366.40. Following the sale, the vice president now directly owns 294,553 shares in the company, valued at approximately $494,849.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Olaplex

Several institutional investors have recently bought and sold shares of OLPX. Quadrant Capital Group LLC grew its stake in Olaplex by 2,108.4% during the fourth quarter. Quadrant Capital Group LLC now owns 10,048 shares of the company’s stock valued at $26,000 after acquiring an additional 9,593 shares in the last quarter. Quent Capital LLC grew its stake in Olaplex by 2,463.8% during the fourth quarter. Quent Capital LLC now owns 11,178 shares of the company’s stock valued at $28,000 after acquiring an additional 10,742 shares in the last quarter. Catalina Capital Group LLC purchased a new position in Olaplex during the first quarter valued at $31,000. HB Wealth Management LLC purchased a new position in Olaplex during the fourth quarter valued at $35,000. Finally, Waldron Private Wealth LLC grew its stake in Olaplex by 62.0% during the fourth quarter. Waldron Private Wealth LLC now owns 16,227 shares of the company’s stock valued at $41,000 after acquiring an additional 6,213 shares in the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

Olaplex Company Profile

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.