Telsey Advisory Group Reiterates “Market Perform” Rating for Olaplex (NASDAQ:OLPX)

Olaplex (NASDAQ:OLPX)‘s stock had its “market perform” rating restated by equities researchers at Telsey Advisory Group in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $2.00 price target on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 44.93% from the stock’s current price.

Several other research analysts have also recently issued reports on OLPX. Piper Sandler upped their target price on shares of Olaplex from $1.50 to $2.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Barclays decreased their price objective on shares of Olaplex from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Olaplex has an average rating of “Hold” and an average target price of $2.10.

Olaplex Stock Down 4.8 %

Shares of NASDAQ OLPX opened at $1.38 on Tuesday. The business has a 50-day moving average of $1.55 and a two-hundred day moving average of $1.91. The company has a market capitalization of $914.83 million, a price-to-earnings ratio of 23.00 and a beta of 2.45. Olaplex has a 1 year low of $1.19 and a 1 year high of $2.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32.

Olaplex (NASDAQ:OLPX) last posted its earnings results on Tuesday, March 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). Olaplex had a return on equity of 10.50% and a net margin of 9.78%. On average, analysts forecast that Olaplex will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Olaplex

A number of institutional investors have recently modified their holdings of the business. Chemistry Wealth Management LLC acquired a new stake in Olaplex during the 4th quarter worth $25,000. Cinctive Capital Management LP purchased a new stake in shares of Olaplex in the third quarter valued at about $38,000. Abel Hall LLC boosted its stake in shares of Olaplex by 68.1% during the third quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock worth $43,000 after buying an additional 7,397 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Olaplex during the fourth quarter worth about $34,000. Finally, BNP Paribas Financial Markets acquired a new position in Olaplex in the 4th quarter valued at about $35,000. 87.37% of the stock is owned by institutional investors and hedge funds.

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.