Olaplex Holdings, Inc. (NASDAQ:OLPX) Receives Average Rating of “Hold” from Brokerages

Olaplex Holdings, Inc. (NASDAQ:OLPX) has received a consensus rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $1.8125.

A number of research analysts have recently commented on OLPX shares. Wall Street Zen downgraded shares of Olaplex from a “hold” rating to a “sell” rating in a research report on Saturday, November 29th. Barclays cut their price objective on shares of 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 reiterated a “market perform” rating and set a $2.00 target price on shares of Olaplex in a research note on Friday, November 7th. Northland Securities began coverage on Olaplex in a report on Thursday, November 20th. They set an “outperform” rating and a $2.00 target price for the company. Finally, Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th.

Institutional Trading of Olaplex

Large investors have recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Olaplex in the second quarter valued at about $25,000. Chilton Capital Management LLC acquired a new position in Olaplex during the 3rd quarter worth about $26,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Olaplex during the third quarter worth about $30,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Olaplex during the 3rd quarter valued at approximately $32,000. Finally, BNP Paribas Financial Markets lifted its holdings in Olaplex by 95.4% in the third quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company’s stock valued at $39,000 after buying an additional 14,507 shares during the period. Institutional investors and hedge funds own 87.37% of the company’s stock.

Olaplex Stock Performance

OLPX stock opened at $1.69 on Friday. The business’s 50-day moving average price is $1.24 and its two-hundred day moving average price is $1.33. Olaplex has a 1-year low of $0.99 and a 1-year high of $1.84. The company has a current ratio of 4.16, a quick ratio of 3.52 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.13 billion, a PE ratio of 84.50 and a beta of 2.25.

Olaplex (NASDAQ:OLPX) last released its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. Olaplex had a positive return on equity of 1.31% and a negative net margin of 1.18%.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 company earned $0.04 EPS. The company’s revenue was down 3.8% on a year-over-year basis. As a group, research analysts forecast that Olaplex will post 0.1 earnings per share for the current year.

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.