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

Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) have earned an average recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $1.75.

A number of research firms have weighed in on OLPX. Northland Securities began coverage on Olaplex in a research note on Thursday, November 20th. They set an “outperform” rating and a $2.00 price objective on the stock. Northland Capmk raised shares of Olaplex to a “strong-buy” rating in a research report on Thursday, November 20th. Telsey Advisory Group restated a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group initiated coverage on shares of Olaplex in a report on Wednesday. They issued a “hold” rating and a $1.50 target price on the stock.

Olaplex Stock Up 0.6%

Shares of NASDAQ OLPX opened at $1.65 on Friday. The stock has a market cap of $1.10 billion, a PE ratio of 82.00 and a beta of 2.25. The company has a current ratio of 4.16, a quick ratio of 3.52 and a debt-to-equity ratio of 0.40. Olaplex has a 12-month low of $0.99 and a 12-month high of $1.84. The company has a 50-day moving average of $1.28 and a 200 day moving average of $1.33.

Olaplex (NASDAQ:OLPX) last released its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $114.58 million for the quarter, compared to analyst estimates of $109.77 million. Olaplex had a negative net margin of 1.18% and a positive return on equity of 1.31%. The business’s revenue was down 3.8% on a year-over-year basis. During the same period last year, the company posted $0.04 EPS. As a group, sell-side analysts predict that Olaplex will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Olaplex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OLPX. Portolan Capital Management LLC lifted its stake in shares of Olaplex by 132.6% in the 3rd quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock valued at $4,762,000 after purchasing an additional 2,072,383 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Olaplex by 1,314.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,508,013 shares of the company’s stock valued at $2,111,000 after buying an additional 1,401,369 shares during the period. Bridgeway Capital Management LLC lifted its position in Olaplex by 56.2% in the second quarter. Bridgeway Capital Management LLC now owns 2,629,139 shares of the company’s stock valued at $3,681,000 after buying an additional 946,265 shares during the last quarter. Ninety One UK Ltd boosted its stake in Olaplex by 18.5% during the second quarter. Ninety One UK Ltd now owns 3,333,055 shares of the company’s stock worth $4,666,000 after buying an additional 520,011 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Olaplex by 242,052.7% during the third quarter. Russell Investments Group Ltd. now owns 496,413 shares of the company’s stock valued at $650,000 after acquiring an additional 496,208 shares during the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

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.