Analysts Set Olaplex Holdings, Inc. (NASDAQ:OLPX) Price Target at $2.59

Olaplex Holdings, Inc. (NASDAQ:OLPX) has been given an average recommendation of “Hold” by the eight ratings firms that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.59.

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

Olaplex Price Performance

NASDAQ OLPX opened at $1.35 on Friday. The company has a 50-day moving average price of $1.83 and a two-hundred day moving average price of $1.99. Olaplex has a 52 week low of $1.27 and a 52 week high of $4.27. The stock has a market cap of $892.84 million, a price-to-earnings ratio of 15.00 and a beta of 2.28. The company has a current ratio of 10.92, a quick ratio of 9.21 and a debt-to-equity ratio of 0.77.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $111.72 million during the quarter, compared to analyst estimates of $108.29 million. Olaplex had a return on equity of 13.09% and a net margin of 13.44%. The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. Analysts forecast that Olaplex will post 0.14 EPS for the current year.

Institutional Trading of Olaplex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC bought a new position in shares of Olaplex in the first quarter valued at $660,000. Wedmont Private Capital grew its holdings in shares of Olaplex by 96.6% in the 1st quarter. Wedmont Private Capital now owns 36,794 shares of the company’s stock worth $71,000 after acquiring an additional 18,081 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Olaplex by 14.2% during the fourth quarter. Vanguard Group Inc. now owns 11,005,310 shares of the company’s stock worth $27,953,000 after purchasing an additional 1,366,353 shares during the period. Syon Capital LLC purchased a new stake in shares of Olaplex during the fourth quarter valued at $115,000. Finally, Townsquare Capital LLC acquired a new position in shares of Olaplex in the 4th quarter valued at $26,000. 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.