Olaplex (NASDAQ:OLPX) Shares Up 7.2% – Still a Buy?

Olaplex Holdings, Inc. (NASDAQ:OLPX) shares were up 7.2% on Friday . The company traded as high as $1.27 and last traded at $1.2650. Approximately 975,232 shares traded hands during trading, a decline of 22% from the average daily volume of 1,252,109 shares. The stock had previously closed at $1.18.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Canaccord Genuity Group upgraded shares of Olaplex from a “hold” rating to a “buy” rating and upped their price target for the company from $1.50 to $2.00 in a research report on Monday, August 25th. Zacks Research raised shares of Olaplex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Barclays lowered their target price on Olaplex from $1.50 to $1.25 and set an “equal weight” rating for the company in a research report on Monday, November 10th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 target price on shares of Olaplex in a report on Friday, November 7th. Finally, Northland Securities began coverage on Olaplex in a research note on Thursday, November 20th. They issued an “outperform” rating and a $2.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $1.85.

Olaplex Price Performance

The firm has a market cap of $834.39 million, a P/E ratio of 62.50 and a beta of 2.28. 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 business’s 50 day moving average is $1.15 and its two-hundred day moving average is $1.32.

Olaplex (NASDAQ:OLPX) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.02 EPS for the quarter, meeting 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 business had revenue of $114.58 million for the quarter, compared to analysts’ expectations of $109.77 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, analysts anticipate that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current year.

Hedge Funds Weigh In On Olaplex

Institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Olaplex by 12.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 27,567,214 shares of the company’s stock worth $35,011,000 after buying an additional 3,066,614 shares in the last quarter. Portolan Capital Management LLC lifted its position in shares of Olaplex by 132.6% during the 3rd quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock valued at $4,762,000 after acquiring an additional 2,072,383 shares during the period. Balyasny Asset Management L.P. boosted its stake in Olaplex by 1,314.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,508,013 shares of the company’s stock worth $2,111,000 after acquiring an additional 1,401,369 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Olaplex by 56.2% during the second quarter. Bridgeway Capital Management LLC now owns 2,629,139 shares of the company’s stock worth $3,681,000 after acquiring an additional 946,265 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new stake in Olaplex in the first quarter worth $826,000. 87.37% of the stock is owned by institutional investors and hedge funds.

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.